Probability of the occurrence of an event
In Bayesian analysis additional information is used to alter the probability of the occurrence of an event.
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What is a unique way to choose a random samples from a specific pooled data set, how to assign each data item, how will wach item be selected?
Develop a payoff (cost) table for this situation. What decision would Beverly make if she were optimistic? What decision would Beverly make is she were pessimistic?
Hypothesis test for the population mean: Z test. A furniture store claims that a specially ordered product will take, on average, = days (5 weeks) to arrive. The standard deviation of these waiting times is days. We suspect that the special orders
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People with z-scorces greater than 2.5 on an IQ test are sometimes classified as geniuses. If IQ test scores have a mean of 100 and a standard deviation of 16 points, what IQ score do you need to be considered a genius?
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A company employs 50 people in the sewing department. 40 of them belongs to a union and 10 do not. 5 are selected at random to form a committee to meet with management regarding shift times. What is the probability that at least 3 of the 5 selecte
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