26 May Question Seventy two percent of all observations fall within 1 standard de
Question
Seventy two percent of all observations fall within 1 standard deviation of the mean if the data is normally distributed.
If two events are not mutually exclusive, then P(A or B) = P(A) + P(B).
Probability trees are used only to compute conditional probabilities.
The minimin criterion is optimistic.
Using the minimax regret criterion, we first construct a table of regrets.Subsequently, for each possible decision, we look across the states of nature and make a note of the maximum regret possible for that decision.We then pick the decision with the largest maximum regret.
Both maximin and minimin criteria are optimistic.
The equal likelihood criterion assigns a probability of 0.5 to each state of nature, regardless of how many states of nature there are.
Assume that it takes a college student an average of 5 minutes to find a parking spot in the main parking lot. Assume also that this time is normally distributed with a standard deviation of 2 minutes. Find the probability that a randomly selected college student will take between 2 and 6 minutes to find a parking spot in the main parking lot.
The chi-square test is a statistical test to see if an observed data fit a _________.
The metropolitan airport commission is considering the establishment of limitations on noise pollution around a local airport. At the present time, the noise level per jet takeoff in one neighborhood near the airport is approximately normally distributed with a mean of 100 decibels and a standard deviation of 3 decibels. What is the probability that a randomly selected jet will generate a noise level of more than 105 decibels?
A business owner is trying to decide whether to buy, rent, or lease office space and has constructed the following payoff
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