A student constructs the scatterplot below and concludes that the price increased by the same amount every two years. By referring to the data table do you agree with the student? Explain.
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- Suppose a company charges a premium of $150 per year for an insurance policy for storm damage to roofs. Actuarial studies show that in case of a storm, the insurance company will pay out an average of $8000 for damage to a composition shingle roof and an average of $12,000 for damage to a shake roof. They also determine that out of every 10,000 policies, there are 7 claims per year made on composition shingle roofs and 11 claims per year made on shake roofs. What is the company’s expected value (i.e., expected profit) per year of a storm insurance policy? What annual profit can the company expect if it issues 1000 such policies? Determine the probability of a composition shingle roof claim out of 10,000 = ______ Determine the probability of a shake roof claim out of 10,000 = ______ How many claims are made out of 10,000? = _______ What is the probability of no claims out of 10,000? = _______ How much does each shingle roof claim cost the company, don’t forget each person pays $150…The management of the local zoo wants to know if all of their animal exhibits are equally popular. If there is significant evidence that some of the exhibits are not being visited frequently enough, then changes may need to take place within the zoo. A tally of visitors is taken for each of the following animals throughout the course of a week, and the results are contained in the following table. At α=0.005, determine whether there is sufficient evidence to conclude that some exhibits are less popular than others. Animal Exhibits at the Zoo Elephants Lions/Tigers Giraffes Zebras Monkeys Birds ReptilesNumber of visitors 152 175 185 144 145 171 163 Step 2 of 4 : Calculate the expected value for the number of visitors for the birds exhibit. Enter your answer as a fraction or a decimal rounded to three decimal places. Step 3 of 4: Compute the value of the test statistic. Round any calculations to at least six decimals places and round your final answer to three…Assume that σ12 = σ22 = σ2. Calculate the pooled estimator of σ2 for s12=50, s22=57 and n1 =n2 =18.
- An SRS of 100 flights by Speedy Airlines showed that 64 were on time. An SRS of 100 flights by Happy Airlines showed that 80 were on time. Let pS be the proportion of on-time flights for all Speedy Airline flights, and let pH be the proportion of all on-time flights for all Happy Airlines flights. Is there evidence of a difference in the on-time rate for the two airlines? To determine this, you test the hypotheses H0 : pS – pH 0, Ha : pS – pH 0. The P-value of your test is 0.0117. Which of the following is an appropriate interpretation of the P-value? a. If the on-time rates for the two airlines are equal, there is a 0.0117 probability of getting samples with a difference as far or farther from zero as these samples. b. If the on-time rates for the two airlines are not equal, the probability of getting samples with a difference as far or farther from zero as these samples is 0.9883. c. The probability of making a Type I error is 0.0117. d. The probability of making a Type II error…The management of the local zoo wants to know if all of their animal exhibits are equally popular. If there is significant evidence that some of the exhibits are not being visited frequently enough, then changes may need to take place within the zoo. A tally of visitors is taken for each of the following animals throughout the course of a week, and the results are contained in the following table. At α=0.05, determine whether there is sufficient evidence to conclude that some exhibits are less popular than others. Animal Exhibits at the ZooElephants Lions/Tigers Giraffes Zebras Monkeys Birds ReptilesNumber of visitors 137 129 161 147 160 134 131 Step 3 of 4 : Compute the value of the test statistic. Round any intermediate calculations to at least six decimal places, and round your final answer to three decimal places. Step 4 of 4: Draw a conclusion and interpret the decision. (Reject or fail to reject, Is there enough evidence or not?)The management of the local zoo wants to know if all of their animal exhibits are equally popular. If there is significant evidence that some of the exhibits are not being visited frequently enough, then changes may need to take place within the zoo. A tally of visitors is taken for each of the following animals throughout the course of a week, and the results are contained in the following table. At α=0.05, determine whether there is sufficient evidence to conclude that some exhibits are less popular than others. Animal Exhibits at the Zoo Elephants Lions/Tigers Giraffes Zebras Monkeys Birds Reptiles Number of visitors 139 136 169 125 174 137 174 Copy Data Step 3 of 4 : Compute the value of the test statistic. Round any intermediate calculations to at least six decimal places, and round your final answer to three decimal places.
- A 6-foot sub valued at $25 is divided among five players (P1, P2, P3, P4, P5) using the last diminisher method. The players play in a fixed order, with Pl first, P2 second, and so on. I round 1, P1 makes the first cut and makes a claim on a C-pièce. For each of the remaining players, the value of the current C-piece at the time it is their turn is given in the following table: a.) What is the fair share for each player? Show your work in the space provided below. b.) What does player 2 do with the piece and why? c.) What does player 3 do with the piece and why? d.) What does player 4 do with the piece and why? e.) What does player 5 do with the piece and why? £) Who gets the piece at the end of round 2 and why is it that person? g.) What is the value of the piece?In 42 of the 64 years from 1950 through 2014,the S& P 500 finished higher after the first five days of trading (in 2011 there was virtually no change). In 37 out of 42 years, the S&P 500 finished higher for the year. Is a good first week a good omen for the upcoming year? The following table gives the first-week and annual performance over this 64-year period. First week Higher Lower Total Higher 37 5 42 Lower 11 11 22 Total 48 16 64 -what is the probability that the S&P 500 finished lower for the year? -b) Given that the S&P fiished lowerr after the first five days of trading,what is the proability that it finished lower for the year? -c) Are the two events "first week performance" and "annual performance"independent? why?Suppose the customers arrive at a Poisson rate of on eper every 12 minutes, and that the service time is exponential at a rate of one service per 8 minutes. What are the average number of customers in the system(L) and the average time a customer spends in the system(W)?
- The monthly income (in RM'000) of husbands and wives in 12 households is as below: Household 1 2 3 4 5 6 7 8 9 10 11 12 Husband 2.5 4.7 3.5 7.6 10.6 4.7 5.6 12.7 15.6 4.5 5.5 12.5 Wife 2.6 4.0 4.0 7.9 5.8 1.6 6.0 3.0 15.8 4.5 6.5 8.5 State your hypotheses. Test if there is a difference in income between the husbands and wives in the 12 households at 0.05 significant level.In 42 of the 64 years from 1950 through 2014,the S& P 500 finished higher after the first five days of trading (in 2011 there was virtually no change). In 37 out of 42 years, the S&P 500 finished higher for the year. Is a good first week a good omen for the upcoming year? The following table gives the first-week and annual performance over this 64-year period. S&P 500's Annual Performance First week Higher Lower Total Higher 37 5 42 Lower 11 11 22 Total 48 16 64 a) If a year is selected at random,what is the probability that the S&P 500 finished lower for the year? b) Given that the S&P fiished lowerr after the first five days of trading, what is the proability that it finished lower for the year? c) Are the two events "first week performance" and "annual performance" independent?In 42 of the 66 years from 1950 through 2016 (in 2011 there was virtually no change), the S&P 500 finished higher after the first five days of trading. In 37 out of 42 years, the S&P 500 finished higher for the year. Is a good first week a good omen for the upcoming year? The following table gives the first-week and annual performance over this 66-year period. First week Higher Lower Total Higher 37 5 42 Lower 12 12 24 Total 49 17 66 -what is the probability that the S&P 500 finished higher for the year? -b) Given that the S&P finished higher after the first five days of trading, what is the probability that it finished higher for the year? -c) Are the two events "first week performance" and "annual performance" independent? Expaint?