People with z-scorces
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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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
A sample of n = 7 scores has a mean of 5. After one score is added to the sample, the new mean is found to be 7. What is the value of the new score?
In Bayesian analysis additional information is used to alter the probability of the occurrence of an event.
John Beale of Stanford, CA, recorded the speed of cars driving past his house where the speed limit read 20 mph. The mean of 1000 readings was 23.84 mph, with a standard deviation of 3.56 mph. How many Standard Deviations from the mean would a car
There are two multiple choice questions on a quiz and a student answers the two questions at random. Each question has four possible choices with only one correct answer. What is the conditional probability that he picked the correct answer on bot
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
You work for a large international oil company searching for oil off the coast of Australia, not too far from Melbourne. Your firm has acquired drilling rights, and you are contemplating your firm's options.
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