Statistical Techniques in Business and Economics
Statistical Techniques in Business and Economics
18th Edition
ISBN: 9781260788785
Author: Lind, Douglas
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Chapter 12, Problem 1.2PT

The likelihood of rejecting a true null hypothesis is called the _______.

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A well-known company predominantly makes flat pack furniture for students. Variability with the automated machinery means the wood components are cut with a standard deviation in length of 0.45 mm. After they are cut the components are measured. If their length is more than 1.2 mm from the required length, the components are rejected. a) Calculate the percentage of components that get rejected. b) In a manufacturing run of 1000 units, how many are expected to be rejected? c) The company wishes to install more accurate equipment in order to reduce the rejection rate by one-half, using the same ±1.2mm rejection criterion. Calculate the maximum acceptable standard deviation of the new process.
5. Let X and Y be independent random variables and let the superscripts denote symmetrization (recall Sect. 3.6). Show that (X + Y) X+ys.
8. Suppose that the moments of the random variable X are constant, that is, suppose that EX" =c for all n ≥ 1, for some constant c. Find the distribution of X.

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Statistical Techniques in Business and Economics

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