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There are confusions with mean, mode and median. Compare these numbers from a normal distribution with that of an exponential decay. Which are least and most changed by various distributions?
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There is a new treatment for smokers to stop smoking. In an experiment, 85% of 300 smokers quit after 10 days of the treatment. What is the reasonable range for the success rate p of our new treatment? Which is the 95% c ...
(i) Define the parameter of interest in the context of the problem (ii) State the alternative hypothesis. (iii) State the distribution used to calculate the P-value (not the formula, but the distribution, eg. t distribut ...
A die is rolled four times. What is the probability that the sum of four numbers equals 13?
The local police department must write an average of 5 traffic tickets each day to keep department revenues at budgeted levels. Suppose the number of tickets written per day follows a Poisson distribution with a mean of ...
A political researcher wants to determine if there is an association between gender (male, female) and political party affiliation (Democrat, Republican, Independent). What type of statistical test should be used?
According to a study in a previous year, 57.0% of households nationwide used natural gas for heating during a year. Recently, a survey of 2,700 randomly selected households showed that 58.0% used natural gas. Use a 0.05 ...
How would I calculate this: Anystate Auto Insurance Company took a random sample of 382 insurance claims paid out during a 1-year period. The average claim paid was $1590. Assume σ = $234. Find a 0.90 confidence interv ...
What is the theory behind callable bonds and when are they most likely to be called?
The distribution of heights of adult American women is approximately normal with a mean of 64 inches and standard deviation of 2 inches. What percent of women is taller than 68 inches?
The ACME Insurance Company has two types of customers, careful and reckless. A careful customer has an accident during the year with probability 0.01. A reckless customer has an accident during the year with probability ...
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