Questions from Applied Statistics

Q: If the payoff of a risky investment has three possible outcomes ($

If the payoff of a risky investment has three possible outcomes ($1,000, $2,000, $5,000) with probabilities .60, .30, and .10 respectively, find the expected value. a. $1,500 b. $2,300 c. $1,700

Q: Past experience indicates that the probability of a post-surgical complication

Past experience indicates that the probability of a post-surgical complication in a certain procedure is 6 percent. A hospital typically performs 200 such surgeries per month. (a). Find the control l...

Q: A large retail toy store finds that, on average, a

A large retail toy store finds that, on average, a certain cheap (under $20) electronic toy has a = percent damage rate during shipping. From each incoming shipment, a sample of 100 is inspected. (...

Q: Which abnormal pattern (cycle, instability, level shift, oscillation

Which abnormal pattern (cycle, instability, level shift, oscillation, trend, mixture), if any, exists in each of the charts shown above? If you see none, say so. If you see more than one possibility,...

Q: Referring to Charts A–F, which Rules (1,

Referring to Charts A–F, which Rules (1, 2, 3, 4) are violated in each chart? Make a photocopy and circle the points that violate each rule.

Q: Refer to the bolt strength problem 17.47. Assuming μ

Refer to the bolt strength problem 17.47. Assuming μ = 6,050 and σ = 100 with n = 3, then LCL = 5,876.8 and UCL 5 6,223.2. Below are five sets of 20 sample means using n = 3....

Q: Refer to the paint problem 17.49 with μ = 1

Refer to the paint problem 17.49 with μ = 1.00 and σ = .07. With n = 5, LCL = .906 and UCL = 1.094. Below are five sets of 20 sample means using n = 5. Test each set of means...

Q: Refer to the Wheat Chex problem 17.56 with μ =

Refer to the Wheat Chex problem 17.56 with μ = 465 and σ = 3. During production, samples of three boxes are weighed every 5 minutes. Problem 17.56: A box of Wheat Chex cer...

Q: Each gum drop in two bags of Sathers Gum Drops was weighed

Each gum drop in two bags of Sathers Gum Drops was weighed (to the nearest .001 g) on a sensitive Mettler PE 360 Delta Range scale. After removing one outlier (to improve normality), there were 84 gum...

Q: (a) Use Excel to make a scatter plot of the

(a) Use Excel to make a scatter plot of the data. (b) Select the data points, right-click, select Add Trendline, select the Options tab, and choose Display equation on chart and Display R-squared valu...