Week 7 Homework 24. H0: μ2 ≤ μ1 H1: μ2 > μ1 a = 0.05 (one-tailed) z-crit = 1.645 test statistic z = (μ2-μ1) / √[(s1)²/n + (s2)²/m] = (351-345) / √[28²/60 + 21²/54] = 1.3 Failed reject H0 because 1.3 < 1.645 and conclude that the difference in means is not significant because the number of units produced on the afternoon shift is larger. 34. These are independent samples of sufficient size to use the z-test for proportions. n1 = 270 x1 = 56 n2 = 203 x2 = 52 α = 0.05
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probabilities to several different possible prices of the underlying value at expiry. Because the distribution of prices occurs in the future, and every underlying value has its own characteristics, there is no clear answer to the question of how probabilities must be allocated. But, as an approximation, most models (some with adjustments) start with the assumption of a normal distribution. A normal distribution curve is always defined by two things: the average or mean (reflected by the spike in the
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Test statistic: Decision: Since tSTAT> 2.0096, reject . There is enough evidence to conclude that the mean number of days is different from 20. (b) The population distribution needs to be normal. (c) The boxplot plot indicates that the distribution is skewed to the right. (d) Even though the population distribution is probably not normally distributed, the result obtained in (a) should still be valid due to the Central Limit Theorem as a result of the relatively large sample size of
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d-hoc Statistics Report submitted to the CEO October 16, 2011 Table of Content Title Page ...............................................................................................................................................i Table of Contents ..................................................................................................................................iii Vacation Histogram .....................................................................................
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Q1 (i) Histogram for the return on Asset A Asset A –Frequency Distribution Class Intervals-Return | | Frequency | Cumulative Frequency | Class Width | Frequency Density | Probability | Cumulative Probability | -8% | -7% | 1 | 1 | 0.01 | 100 | 0.0000 | 0.0000 | -7% | -6% | 1 | 2 | 0.01 | 100 | 0.0002 | 0.0002 | -6% | -5% | 7 | 9 | 0.01 | 700 | 0.0002 | 0.0004 | -5% | -4% | 16 | 25 | 0.01 | 1600 | 0.0014 | 0.0018 | -4% | -3% | 42 | 67 | 0.01 | 4200 | 0.0032 | 0.0050 | -3% |
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Chapter 6 Statistical Process Control 6.0 Introduction One of the axioms or truisms in law of nature is “No two items of any category at any instant in the universe are the same”. Manufacturing process is no exception to it. It means that variability is part of life and is an inherent property of any process. Measuring, monitoring and managing are rather engineers’ primary job in the global competition. A typical manufacturing scenario can be viewed as shown in the Figure 6.1. That is if
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Alfred Binet Alfred Binet was a french psychologist who was born in 1857 and died in 1911. He is the inventor of the first usable intelligence test, which is known today as the IQ test. His main goal was to indentify students who needed special attention in when it came to learning. With the help of his collaborator,Theodore Simon, he published the last revision of his intelligence scale right before his death in 1911. Further refinements of the scale were published after his death, but they
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section or problem are reference examples and end of section exercises that can be used as a guide. Be sure to show your work in case partial credit is awarded. To receive full credit, work must be shown if applicable. Section 4.1 Probability Distribution 1. Decide whether the random variable is discrete or continuous. (References: example 1 page 195, end of section exercises 13 – 20 page 201) (1 point per each part) a. The cost of a randomly selected apple continuous
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provides one of five standard responses about the weather when a child presses the teddy bear’s hand. The company recently reached out to our team to prepare a managerial report addressing, but not limited to, the following issues: normal probability distribution in relation to demand approximation, the probability of stock-outs for certain quantities and the projected profits associated with certain order quantities. The purpose of this managerial report is to address the concerns of the management team
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on the right to the definition of that term on the left. |Definitions |Terms | |The average of the squared deviation scores from a distribution mean. D. Variance |Reliability | |Midpoint
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