1. The heights of boys at a particular age follows a normal distribution with mean 150.3 cm and standard deviation 5 cm. Find the probability that a boy picked at random from this age group has height (a) less than 153 cm (b) less than 148 cm (c) more than 158cm (d) more than 144 cm (e) between 147 cm and 149.5cm (f) between 150 cm and 158 cm 2. The mean mark on a final examination was 72 and the standard deviation was 9. The top 10% of the students are to receive A’s. What is the minimum mark a
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them: * Independent. The error for one observation is independent of the error for any other observation. * Equal variance. All errors have the same variance‚ Var(ε) = σε2. * Normal. The errors are normally distributed. If these assumptions hold‚ then the collection of all possible errors forms a normal population with mean 0 and variance σε2‚ abbreviated ε ̴̴ N (0‚ σε2). Simple Regression Model (SRM) observed values of the response Y are linearly related to values of the explanatory
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The number of workplace injuries‚ X‚ typically follows a Poisson distribution with a parameter λ‚ where E(X) = λ and Variance(X) = λ. 3) We can reasonably approximate the Poisson distribution via a Normal distribution‚ with the same expected value and variance (according to Central Limit Theorem‚ for which you don’t need to know the details). 4) You will also need to use the critical value for the standard Normal distribution (i.e.‚ z-score) associated with the 95% confidence interval. You
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the uncertainty in estimated demand and provide insights of the range of profit outcomes and its associated risk (deviation from mean). The key issue is to understand impact of demand uncertainty and production level to the profit range and its distribution. In this case‚ we will determine the optimal decision variables (jacket production quantity) that will maximize our objective (average profit). The given information from management is the variable production cost‚ the selling price‚ and the
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6.1 Given a standardized normal distribution (with a mean of 0 and a standard deviation of 1‚ as in Table E.2)‚ what is the probability that a. Z is less than 1.57? b. Z is greater than 1.84? c. Z is between 1.57 and 1.84? d. Z is less than 1.57 or greater than 1.84? 6.5 Given a normal distribution m = 100 and s = 10 what is the probability that a. X > 75? b. X < 70? c. X < 80 or X > 100? d. Between what two X values (symmetrically distributed around the mean)
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is the average of the squared differences of the mean. The standard deviation explains the density of data scattered around the mean. Curve distribution is a bell shaped curve when data is tightly bunched together. Highly arched bell shaped curves have a small standard deviation. Flat bell shaped curves have a large standard deviation. A normal distribution of data indicates a section of data that are close to the average. The average is located at the curves center or midway point. The standard
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order is filled by randomly drawing from the computers in stock. Let X be the number of defective computers in the order. What probability distribution describes P (X = x)? (A) Gamma (B) Uniform (C) Geometric (D) Bernoulli (E) Binomial (F) Exponential (G) Poisson (H) Hypergeometric (I) Beta (J) Normal Solution: This is a hypergeometric distribution: P (X = x) = 2 x 48 3−x 50 3 . 2. (Continuation of the previous problem.) Assume the same information given in problem
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Introductory Business Statistics Econ 231 CRN 32698 Summer 2013 Jan Wolcutt Text: Basic Statistics for Business & Economics‚ 7th Edition by Lind‚ Marchal‚ and Wathen. McGraw-Hill-Irwin‚ 2010. The study guide is optional. You will also be required to buy econnect to do homework assignments and download files from Blackboard. The cheapest way to do this is to buy directly from McGraw
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Question 1: We would have the work on the data set phones.sav. Therefore‚ we hoped to glance at the information of the data at initial. After the reading‚ the data set consisted of the following 12 variables that all relates to the year 2010. They were shown in the variable name and the description in the below Table 1.001. Table 1.001. The data set of phones.sav for year 2010 Variable name cell_subs fixed_line_subs GDP_percap pop_total pop_15_24 pop_15-59 pop_60plus area urbfrac comped tert_enrol
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location is affected most by extreme values? 3. Which level of measurement is required for the median? 4. In which of the following distributions is the probability of a success usually small? 5. Which of the following is not a requirement of a probability distribution? 6. Which of the following is not a requirement of a binomial distribution? 7. A sample 8. The difference between the sample mean and the population mean is called the 9. Suppose a population consisted of
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