uncertainty exists in model parameters. 2. A continuous random variable may assume only integer values within a given interval. 3. A joint probability is the probability that two or more events that are mutually exclusive can occur simultaneously. 4. A decision tree is a diagram consisting of circles decision nodes‚ square probability nodes‚ and branches. 5. A table of random numbers must be normally distributed and efficiently generated. 6. Starting conditions have no impact
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average number of absences in the first grade is 15 with a standard deviation of 7; for girls‚ the average number of absences is 10 with a standard deviation of 6. In a nationwide survey‚ suppose 100 boys and 50 girls are sampled. What is the probability that the male sample will have at most three more days of absences than the female sample? (A) 0.025 (B) 0.035 (C) 0.045 (D) 0.055 (E) None of the above Solution The correct answer is B. The solution involves four steps. * Find
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data analysis. Use your knowledge of probability and conditional probability to help with the ranking of the judges. You also may be able to analyze the likelihood of appeal and reversal for cases handled by different courts. Managerial Report Prepare a report with your rankings of the judges. Also‚ include an analysis of the likelihood of appeal and case reversal in the three courts. At a minimum‚ your report should incluse the following: a. The probability of cases being appealed and reversed in
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Decision Sciences and Management Information Systems MBA 608 Statistical Models for Business Decisions Review for Class test #1 1. A summary measure that is computed to describe a characteristic from only a sample of the population is called a) a parameter. b) a census. c) a statistic. d) the scientific method. 2. The British Airways Internet site provides a questionnaire instrument that can be answered electronically. Which of the 4 methods
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in file jtrain2.des). a) Using a LPM regress the probability of unemployment in 1978 against the training dummy and age‚ educ‚ black‚ hisp‚ married‚ and nodegree. Describe the effects of the training on the probability of unemployment. b) Re-estimate the model described in part a) using a logit model. Compare predicted probabilities between the logit and the LPM. c) Calculate and compare the effects of the training program on the probability of unemployment for both the LPM and the logit model
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distribution. The number of faults along the wire maybe shown to give rise to the exponential distribution as defined below: Definition The general formula for the probability density function of the exponential distribution is is a parameter which is a given constant . The following is the plot of the exponential probability density function. If then the cumulative distribution function of the exponential distribution is The following is the plot of the exponential cumulative
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82 Nonviolent 12 34 22 68 Total 39 75 36 150 a. What is the probability of selecting a case to analyze and finding it involved a violent crime? = 82/150 b. What is the probability of selecting a case to analyze and finding the crime was committed by someone less than 40 years old? = 115/150 c. What is the probability of selecting a case that involved a violent crime or an offender less than 20 years old? Which rule
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from this population‚ the probability that exactly 2 students have experienced math anxiety is (a) 0.3020 (b) 0.2634 (c) 0.20 13 (d) 0.5 (4 1 (f) None of the above 2. Refer to the previous problem. The standard deviation of the number of students in the sample who have experienced math anxiety is (a) 0.0160 (b) 1.265 (c) 0.2530 (d) 1 (e) .2070 3. In a certain large population‚ 40% of households have a total annual income of $70‚000. A
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Introduction Throughout my life‚ I have always heard adults and other authority figures say‚ “That if your write with your right hand‚ you use the left side of your brain and if you write with your left hand‚ your use the right side of your brain.” I have always wondered about this say‚ but being an uninquisitive person and always respectful to my elders‚ I just believed what my elders had said and left it at that. However‚ as I have gotten old‚ I have begun to question whether or not that statement
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ticket‚ d2 0 0 Payoff Table a.) A realistic estimate of the chances of winning is 1 in 250‚000. approach to recommend a decision. Use the expected value Answer: Given: Realistic estimate of the probability of winning: 0.000004 (1/250‚000) Realistic estimate of the probability of losing : 0.999996 (1- 0.000004) Thus‚ the expected values for the two decision alternatives are: EV(d1) = 0.000004(300‚000) + 0.999996(-2) = 1.2 + (-1.999992) = -0.799992 EV(d2) = 0.000004(0) + 0.999996(0)
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