(Mean= 346.5), (E=1.96*170.38/sqrt (20) = 74.67), (95% C/I= 346.5-74.67< u < 346.5+74.67) (b) Why might normality be an issue here? The CI (confidence interval) is a statement about the whole population. In the random sample provided by our assignment, I believe it does not correspond to the whole population. So the 20 page sample was not required or representative of the set of Yellow Pages. (c) What sample size would be needed to obtain an error of ±10 square millimeters with 99 percent confidence?
1. A random sample of size 15 is selected from a normal population. The population standard deviation is unknown. Assume the null hypothesis indicates a two-tailed test and the researcher decided to use the 0.10 significance level. For what values of t will the null hypothesis not be rejected?
1. A random sample of size 15 is selected from a normal population. The population standard deviation is unknown. Assume the null hypothesis indicates a two-tailed test and the researcher decided to use the 0.10 significance level. For what values of t will the null hypothesis not be rejected?
* Question 1 5 out of 5 points | | | Deterministic techniques assume that no uncertainty exists in model parameters. Answer | | | | | Selected Answer: | True | Correct Answer: | True | | | | | * Question 2 5 out of 5 points | | | An inspector correctly identifies defective products 90% of the time. For the next 10 products, the probability that he makes fewer than 2 incorrect inspections is 0.736.Answer | | | | | Selected Answer: | True | Correct Answer: | True | | | | | * Question 3 5 out of 5 points | | | A continuous random variable may assume only integer values within a given interval. Answer | | | | | Selected Answer: | False | Correct Answer: | False | | | | | * Question 4 5 out of 5 points | | | A decision tree is a diagram consisting of circles decision nodes, square probability nodes, and branches.Answer | | | | | Selected Answer: | False | Correct Answer: | False | | | | | * Question 5 5 out of 5 points | | | Simulation results will always equal analytical results if 30 trials of the simulation have been conducted.Answer | | | | | Selected Answer: | False | Correct Answer: | False | | | | | * Question 6 5 out of 5 points | | | Excel can only be used to simulate systems that can be represented by continuous random variables.Answer | | | | | Selected Answer: | False | Correct Answer: | False | | | | | * Question 7 5 out of 5 points | | | The Delphi develops a consensus forecast about what will occur in the future.Answer | | | | | Selected Answer: | True | Correct Answer: | True | | | | | * Question 8 5 out of 5 points | | | Qualitative methods are the least common type of forecasting method for the long-term strategic planning process.Answer | | | |
Quantitative Methods Mid term Question 1 Deterministic techniques assume that no uncertainty exists in model parameters. Selected Answer: True Question 2 An inspector correctly identifies defective products 90% of the time. For the next 10 products, the probability that he makes fewer than 2 incorrect inspections is 0.736. Selected Answer: True Question 3 A joint probability is the probability that two or more events that are mutually exclusive can occur simultaneously. Selected Answer: False Question 4 A decision tree is a diagram consisting of circles decision nodes, square probability nodes, and branches.
1. A random sample of size 15 is selected from a normal population. The population standard deviation is unknown. Assume the null hypothesis indicates a two-tailed test and the researcher decided to use the 0.10 significance level. For what values of t will the null hypothesis not be rejected?
D. level of significance is to the test statistic. You performed a right tailed hypothesis test and your sample gave you a test statistic in the left tail. Which of the following is considered the appropriate next step in this hypothesis test? A. Fail to reject the null.
Suppose we are interested in comparing means from two independent samples. The mean of the first sample is 9 and the mean of the second sample is 17. Let’s assume that the two group means have the same standard errors, equal to 2.5. The 95 percent confidence interval for the first group mean can be calculated as: 9 ± 1.96 × 2.5 where 1.96 is the critical t-value. The confidence interval for the first group mean is thus (4.1, 13.9).
In order to find an approximate result, it can be completed by the function F (x) = x/18 for 0 < x < 6 Therefore, the distribution function is F (x) = x-square divided by 36 for 0 < x < 6 If we set this equal to another random number r1 that is between 0 and then R1 = x-square divided by 36 which results to x = 6√ r1 3. In Excel, use a suitable method for simulating the lost revenue for each day the copier is out of service. Because the amount of copies sold each day is a uniform probability distribution between 2000 to 8000 copies, I designated r3 as a random number between 2000 to 8000. In order to find the amount of business lost on a certain day, I took r3 X (repair time), and the lost revenue
The selling price of iPhone 6 would have to be at least £700 for enough phones to be produced for Apple to reach its sales goal (20 million units). It is point B (20,700). The equation of the line: (Y-550)/(x-10) = (700-550)/ (20-10) Y-550 =15x-150 Y =15x+400 The linear function of Sales (demand) The pricing team made the estimate that 20 million sales of the iPhone 6 would only be reached if the price was at most £500, and that if the iPhone 6 was sold at £700, sales would only reach 4 million. So the two points are (4,700) and (20,500). The equation of the line: (Y-500)/(x-20) = (700-500)/ (4-20) Y-500 = -12.5+250 Y =-12.5x+750 The intersection point The two equations: y=15x+400…….1 y=-12.5x+750……2 15x+400=y=-12.5x+750 27.5x = 350 x=12.727 million units Sub x=12.727 million units into 1 y=15(12.727) +400 y=590.909 pound So the