Solution Library


Calculate Statistically Whether or Not Machines Need to be Replaced or Repaired

QuestionThe production manager of a company that manufactures car seats has been concerned about the number and cost of machine breakdowns.  The problem is that the machines are old and are becoming quite unreliable.  However, the cost of replacing them is quite high and the manager is not ... Read More

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Analyze Unemployment Rates in Australia Between 1995 and 2008

QuestionThe monthly Australian unemployment rates for 1995-2008 are recorded and stores in the Excel sheet attached and answer the following questions:a)    Plot the time series and briefly describe the patterns in the time series.b)    Estimate a linear trend line.c)&n ... Read More

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Sub-dividing Numerical Values

Question1.    Numerical variables can be subdivided into which two types?A. Cross-sectional and discrete    B. Discrete and continuous    C. Nominal and progressive    D. Diverse and categorical    2.    In a r ... Read More

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Probability of Landing Number Greater Than 2 in Playing Dice

Question1.    If a die is rolled one time, find the probability of getting a number greater than 2.  A. 2      B. -1      C. 5/6      D. 4/6    2.    The following data were obtained from a ... Read More

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Probability of Landing Number 10 on Two Dices

Question1.    A drug is reported to benefit 40% of the patients who take it. If 6 patients take the drug, what is the probability that 4 or more patients will benefit?A. 0.179    B. 0.667    C. 0.862    D. 0.138    2. &n ... Read More

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Effect of Sample Size and Sample Mean of a Large Distribution

Question1.    The theorem that states that the sampling distribution of the sample mean is approximately normal when the sample size n is reasonably large is known as the:A. central tendency theorem    B. point estimate theorem    C. simple random sample ... Read More

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Calculate Mean of a Probability Distribution And Standard Normal Variable

Question1.    Given that Z is a standard normal random variable, P(-1.0 < Z < 1.5) isA. 0.9332    B. 0.0919    C. 0.7745    D. 0.8413    2.    The mean of a probability distribution can be:A. a positive n ... Read More

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Calculate Probability in Normal Distribution and Standard Scores in a Random Variable

Question1.    If Z is a standard normal random variable, then the value z for which P(-z < Z < z) equals 0.8764 isA. 1.16    B. 0.3764    C. 1.54    D. 3.08    2.    The average height of flowering cherry ... Read More

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Calculate The Expected Value of X

QuestionAccepted characters: numbers, decimal point markers (period or comma), sign indicators (-), spaces (e.g., as thousands separator, 5 000), "E" or "e" (used in scientific notation). NOTE: For scientific notation, a period MUST be used as the decimal point marker.  Complex numbers shou ... Read More

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Calculate The Expected Value for an Investment

QuestionThe annual returns, in percentages, on stocks A and B for three possible states of the economy are given in the table below. Economy State    Probability    Stock A    Stock B       Good       ... Read More

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What is the Nature of Variables Used by Researches in Surveys

QuestionThe following are examples of variable that researchers commonly measure on surveys. Name and define the level of measurement for each. a. Highest level of education (measured as completed some high school, completed high school, completed some university courses, etc.) b. The color of a per ... Read More

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Find Correlation for the Data for Car Value, Tenure, Year of Manufacture and Age of Car

Question   Look at the data and answer the questions.                    ·    Provide descriptive statistics for the data                 ... Read More

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