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- Prove the conjecture made in the previous exercise.A report in LTO stated that the average age of taxis in the Philippines is 9 years. An operations manager of a large taxi company selects of 40 taxis and finds the average age of the taxis is 8.2 years. The of the population is 2.3 years. At can it be concluded that the average age of the taxis in his company is less than the national average?A group of medical professionals is considering theconstruction of a private clinic. If the medical de-mand is high (i.e., there is a favorable market for theclinic), the physicians could realize a net profit of$100,000. If the market is not favorable, they couldlose $40,000. Of course, they don’t have to proceedat all, in which case there is no cost. In the absenceof any market data, the best the physicians can guessis that there is a 50–50 chance the clinic will be suc-cessful. Construct a decision tree to help analyze thisproblem. What should the medical professionals do?
- A research center claims that that 31% of adults in a certain country would travel into space on a commercial flight if they could afford it. In a random sample of 1200 adults in that country, 33% say that would travel into space on a commercial flight if they could afford it. At alpa= 0.05, isthere enough evidence to reject the research centers claim complete parts a through d belowEstimate the indicated there but if by any method.