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- The score obtained on an emotional intelligence test is normally distributed,with an average score (μ) of 112 and a standard deviation (σ) of 8.5. What is the probability that a randomly selected person will:Q.6.3.1 Obtain a score between 111 and 116? Interpret your answer. Q.6.3.2 Obtain a score between 107 and 110? Interpret your answer.You are taking a multiple-choice test that awards you one point for a correct answer and penalizes you 0.25 points for an incorrect answer. If you have to make a random guess and there are five possible answers, what is the expected value of guessing? Group of answer choices -0.25. 0.25. 0.5. 1. 0.If the 95 percent confidence interval for an estimated coefficient runs from 1.0 to 3.2, then there is a ____ probability that the true value of the coefficient ____. A. 95 percent; lies inside of the range from 1.0 to 3.2 B. 95 percent; equals 1.0 or 3.2 C. 5 percent; lies inside of the range from 1.0 to 3.2 D. 95 percent; lies outside of the range from 1.0 to 3.2
- The expected value and variance of the random variable X are as follows: E(x) = 716.04 var(x) = 48656.08 The random variable x is now transformed to y according to the following linear equation. y = a + bx a = 523.215 b = 11.275 16 In the previous question, the variance of the transformed random variable is: a 6185434.58b 6311667.94c 6440477.49d 6571915.81E4 The demand function below is estimated using the data generated by a randomized controlled trial: Lnqx^d=a+b*Lnpx+c*LnpY+d*Lnpz+e where qx^d is the quantity demanded of the product of interest (X), px is the price of the product of interest (X), py is the price of a substitute product (Y), and pz is the price of a complement product (Z). Also, e is the error term. The table below shows the 95% confidence interval estimation for parameters b, c, and d: Parameter Lower Limit of 95%CIE Upper Limit of 95%CIE b -0.052 -0.031 c -0.025 +0.045 d -0.154 -0.075 16. Consider the lower limit of 95%CIE for parameter b. A 10 percent increase in price of X is expected to reduce the demand for X by _____ percent. Note: Round your answer to two decimal points. 17. Consider the upper limit of 95% CIE for parameter b. A 10 percent increase in price X is expected to reduce the demand for X by ______ percent Note: Round your answer to two decimal points.Exercise How many children will be needed in the survey to determine the level of dental health among public elementary school children in Community X, if the researcher would like that his estimate to be within 10% of the true value with a reliability level of 99%, if previous research shows a standard deviation of the dental caries score is 5?5?
- The Generalized Entropy Index for a subset (after splitting) containing 12 individuals who unsubscribed from a service, and eights individuals who continued with the service is ____________.The dispersion of values about the sample average is represented by the: (a) Variance (b) Expected value (c) Probability distribution (d) Standard deviationq7- Which statement is incorrect for statistical independence between X and Y? Select one: a. The occurence of Y has no impact on the probability for the occurence of X b. If X and Y occur jointly, it is purely by chance c. The correlation between X and Y is 0 d. The correlation between X and Y is 1
- A random sample of n = 25 is obtained from a population with variance ?2, and the sample mean is computed to be x= 70. Consider the null hypothesis ?0: m =80 versus the alternative hypothesis ?1: m < 80. Compute the p-value when the population variance is o2 = 600.The Customs Inspection agency at international airports has developed a traveler profiling system (TPS) to detect passengers who are trying to bring more liquor into the country than is allowed by present regulations. Long-term studies indicate that 20% of the passengers are carrying more liquor than is allowed. Tests on the new TPS scheme has shown that of those carrying illegal amounts of liquor, 80% will be identified and subject to complete luggage search. In addition 20% of those not carrying illegal amounts of liquor will also be identified by TPS and subject to a complete luggage search.If a passenger is identified by TPS, what is the probability that the passenger is carrying an illegal amount of liquor? Comment on the value of this system.You hold an oral, or English, auction among three bidders. You estimate that each bidder has a value of either $100 or $125 for the item, and you attach probabilities to each value of 50%. The winning bidder must pay a price equal to the second highest bid. The following table lists the eight possible combinations for bidder values. Each combination is equally likely to occur. On the following table, indicate the price paid by the winning bidder. Bidder 1 Value Bidder 2 Value Bidder 3 Value Probability Price ($) ($) ($) $100 $100 $100 0.125 $100$100$1250.125 $100$125$1000.125 $100$125$1250.125 $125$100$1000.125 $125$100$1250.125 $125$125$1000.125 $125$125$1250.125 The expected price paid is . Suppose that bidders 1 and 2 collude and would be willing to bid up to a maximum of their values, but the two bidders would not be willing to bid against each other. The probabilities of the combinations of bidders are still…