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- Repeat Example 5 when microphone A receives the sound 4 seconds before microphone B.arrow_forwardBenford's Law claims that numbers chosen from very large data files tend to have "1" as the first nonzero digit disproportionately often. In fact, research has shown that if you randomly draw a number from a very large data file, the probability of getting a number with "1" as the leading digit is about 0.301. Suppose you are an auditor for a very large corporation. The revenue report involves millions of numbers in a large computer file. Let us say you took a random sample of n=402 numerical entries from the file and r=107 of the entries had a first nonzero digit of 1. Let p represent the population proportion of all numbers in the corporate file that have a first nonzero digit of 1. Test the claim that p is less than 0.301 by using a=.01. Are the data statistically significant at the significance level? Based on your answers, will you reject or fail to reject the null hypothesis?arrow_forwardBenford's Law claims that numbers chosen from very large data files tend to have "1" as the first nonzero digit disproportionately often. In fact, research has shown that if you randomly draw a number from a very large data file, the probability of getting a number with "1" as the leading digit is about 0.301. Suppose you are an auditor for a very large corporation. The revenue report involves millions of numbers in a large computer file. Let us say you took a random sample of n = 247 numerical entries from the file and r = 60 of the entries had a first nonzero digit of 1. Let p represent the population proportion of all numbers in the corporate file that have a first nonzero digit of 1. Test the claim that p is less than 0.301 by using α = 0.1. Are the data statistically significant at the significance level? Based on your answers, will you reject or fail to reject the null hypothesis? Group of answer choicesarrow_forward
- D3)arrow_forwardChapter 11, Section 11.1, Problem 005a Find the value of y for 4 degrees of freedom and 0.010 area in the right tail of the chi-square distribution curve. Enter the exact answer from the chi-square distribution table. %3D exact number, no tolerance powered by MapleNet rivacy Policy @ 2000-2020 John Wiley & Sons, Inc. All Rights Reserved. A Division of John Wiley & Sons, Inc. MacBook Air DII • F2 F3 F4 F5 F6 F7 F8 23 24 % & 3 4 5 7 8. 9 W < COarrow_forwardSuppose you just bought one share of stock A and want to hedge it by shorting stock B. How many shares of B should you short to minimize the variance of the hedged position? Assume that the variance of stock A's return is o?; the variance of B's return is o?; their correlation coefficient is p. Please show your derivation by attaching a file below. Hint: 1. we don't restrict the solution to be an integer, it can be a non-negative value 2. we don't set constraints for the target returnarrow_forward
- Part IV: Sections 5.5 - 5.7 17. Suppose that the number of defects in a randomly selected one carat dliamond of a certain type follows a Poisson distribution with X= 3. By the Central Limit Theorem, what is the approximate (a) distribution of the mean number of defects in the random sample of 40 one carat diamonds? You should give a name for the distribution, as well two associated numerical quantities. Estimate the largest number of defects y such that in (b) the random sample of 40 one carat diamonds, the probability that the sample mean number of defects is less than y is less than 98%.arrow_forward૭arrow_forwardSpgarrow_forward
- I need the solution of question attached. Thanks!arrow_forwardPart IV: Sections 5.5-5.7 17. Suppose that the number of defects in a randomly selected one carat diamond of a certain type follows a Poisson distribution with X= 3. By the Central Limit Theorem, what is the approximate (a) distribution of the mean number of defects in the random sample of 40 one carat diamonds? You should give a name for the distribution, as well two associated numerical quantities. (b) the random sample of 40 one carat diamonds, the probability that the sample mean number of defects is less than y is less than 98%. Estimate the largest number of defects y such that inarrow_forwardAn automobile manufacturer is concerned about a fault in the braking mechanism of a particular model. The fault can, on rare occasions, cause a catastrophe at high speed. The distribution of the number of cars per year that will experience the catastrophe is a Poissonrandom variable with λ = 7.5. (a) What is the probability that at most 5 cars per year will experience a catastrophe?(b) What is the probability that more than 1 car per year will experience a catastrophe?arrow_forward
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