3. Stevie Stone, a bellhop at the Royal Sundown Hotel in Atlanta, has been offered amanagement position. Although accepting the offer would assure him awere a recession, if good economic conditions prevailed, he would actually make lessmoney as a manager than as a bellhop (because of the large tips he gets as a bellhop).His salary during the next 5 years for each job, given each future economic condition,is shown in the following payoff table:job if thereEconomic ConditionsDecisionGoodRecessionBellhopManager$120,000$60,00085,00085,000Select the best decision, using the following decision criteria.a. Minimax regretb. Hurwicz ( a = 0.4)c. Equal likelihood

Answered: Select the best decision, using the…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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A research center survey of 2,484 adults found that 1,942 had bought something online. Of these online shoppers, 1,295 are weekly online shoppers. Complete parts (a) through (c) below. a. Construct a 95% confidence interval estimate of the population proportion of adults who had bought something online. Sas (Round to four decimal places as needed.) led b. Construct a 95% confidence interval estimate of the population proportion of online shoppers who are weekly online shoppers. Sas (Round to four decimal places as needed.) c. How would the director of e-commerce sales for a company use the results of (a) and (b)? O A. Since a greater proportion of adults have purchased something online than are weekly online shoppers, the director of e-commerce sales may want to focus on those adults who have purchased something online. led O B. The information cannot be compared because it is derived from two different opinions. O C. Agreater proportion of adults have purchased something online, but…
According to a recent study in New York, 15% of shoppers are unfairly being charged sales tax in non-taxable items. Mr. Hypothesis feels this proportion is too low. He tests his belief by conducting a survey of 200 random shoppers. Which of the following would be the alternate hypothesis? a. The percent of shoppers unfairly being charged sales tax on non-taxable items < .15 b. The percent of shoppers unfairly being charged sales tax on non-taxable items > .15 c. The percent of shoppers unfairly being charged sales tax on non-taxable items = .15
2) Researchers are interested in whether there is any relationship between a person's IQ (x- variable) and how long they live (y-variable). Answer the questions below by using the data provided. Show your work and use the back of the page if necessary. X Y 10 3 6. 6. 7 4 3 4 a) What type of statistical analysis would be most appropriate to use in this scenario? Please justify your answer. b) Please state the null and alternative hypotheses. c) Please report the results of your statistical analyses and make a decision about whether to reject or fail to reject the null hypothesis Use alpha = .05 (two-tailed). %3D
A confidence interval for a mean is (−13,14)-13,14. This interval would be wider if A.)The sample mean was larger or the variability of the data was larger. B.) The variability of the data was larger, or the investigator wanted to be more confident. C.) The investigator wanted to be more confident of their results, or there was more information. D.) The variability of the data was small, or the sample mean was larger. E.) None of the above.
Express the alternative hypothesis in symbolic form. A psychologist claims that the mean amount of time (in hours) that females spend in talk therapy is more than that of men. Assume that two samples are independent. Let the female talk therapy times be the first population and the male talk therapy times be the second population.
What is the ratio of the total jobs at risk in Transportation and Storage to those at riks in Retail? A) 4.68:7.79 B) 7.79:4.68 C) 52:41 D) 9:19 E) 30:27
An accounting firm annually monitors a certain mailing service's performance. One parameter of interest is the percentage of mail delivered on time. In a sample of 346,000 items mailed between Dec. 10 and Mar. 3—the most difficult delivery season due to bad weather and holidays—the accounting firm determined that 241,300 items were delivered on time. Use this information to make a statement about the likelihood of an item being delivered on time by that mailing service. Assuming a confidence level of 95%, the likelihood of an item being delivered on time (when it was mailed between Dec. 10 and Mar. 3) is in the interval (enter your response here,enter your response here). (Round to four decimal places as needed.)
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Suppose that the proportion of investors who are risk-averse (that is, try to avoid risk in their investment decisions) is though to be at least 0.7. A financial advisor believes that the proportion is actually less than 0.7. A survey of 35 investors found that 23 of them were risk-averse. Formulate a one-sample hypothesis test for a proportion to test this belief. Determine the null hypothesis, H,, and the alternative hypothesis, H,. Ho H,: (Type integers or decimals. Do not round.) Compute the test statistic. (Round to two decimal places as needed.) Find the p-value for the test. (Round to three decimal places as needed.) State the conclusion at the 0.05 level of significance. The p-value is V the chosen value of a, so the null hypothesis. There is evidence to conclude that the proportion of investors who are risk-averse is not at least 0.7.
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Use the following prompt to complete subquestions 7.a and 7.b

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Select the best decision, using the following decision criteria. a. Minimax regret b. Hurwicz ( a. = 0.4) c. Equal likelihood С.