Ask question

Ask question

All categories

katen-ka-za [31]

3 years ago

11

Suppose 10 people are chosen at random from a group of 1200. What is the probability that all 10 would rate their financial shap

e as poor?

1 answer:

Pachacha [2.7K]3 years ago

5 0

1200/10= 120 and 120 is your answer

You might be interested in

MARY is making pillows for her new office. She bought 2 1/2 yards of fabric. Her

storchak [24]

17 / 2.5 = 6.80 a yard

3 0

2 years ago

305 to the nearest ten

HACTEHA [7]

305 to the nearest ten is 310.

5 0

2 years ago

Read 2 more answers

Which is not a likely area of application of statistics in business?

Roman55 [17]

Answer:

D.

Step-by-step explanation:

Statistics has a lot of usage in business.

Using statistics as well as statistical tools helps in the provision of data to be used for business analysis. With available data we can get patterns in a a large database. Statistics can be used for auditing, as in question option b. For option c, statistics can be used for making business forecasts after the careful observation of trends and patterns that are in the data.

Option d does not make use of statistics. It has nothing to do with statistics neither does it have a computational feature.

Therefore, d.) questioning the executive's strategic decision is the answer to this question

4 0

2 years ago

A coin is thrown independently 10 times to test the hypothesis that the probability of heads is 0.5 versus the alternative that

mafiozo [28]

Answer:

(a) The significance level of the test is 0.002.

(b) The power of the test is 0.3487.

Step-by-step explanation:

We are given that a coin is thrown independently 10 times to test the hypothesis that the probability of heads is 0.5 versus the alternative that the probability is not 0.5.

The test rejects the null hypothesis if either 0 or 10 heads are observed.

Let p = <u><em>probability of obtaining head.</em></u>

So, Null Hypothesis, $H_0$ : p = 0.5

Alternate Hypothesis, $H_A$ : p $\neq$ 0.5

(a) The significance level of the test which is represented by $\alpha$ is the probability of Type I error.

Type I error states the probability of rejecting the null hypothesis given the fact that the null hypothesis is true.

Here, the probability of rejecting the null hypothesis means we obtain the probability of observing either 0 or 10 heads, that is;

P(Type I error) = $\alpha$

P(X = 0/ $H_0$ is true) + P(X = 10/ $H_0$ is true) = $\alpha$

Also, the event of obtaining heads when a coin is thrown 10 times can be considered as a binomial experiment.

So, X ~ Binom(n = 10, p = 0.5)

P(X = 0/ $H_0$ is true) + P(X = 10/ $H_0$ is true) = $\alpha$

$\binom{10}{0}\times 0.5^{0} \times (1-0.5)^{10-0} +\binom{10}{10}\times 0.5^{10} \times (1-0.5)^{10-10}$ = $\alpha$

$(1\times 1\times 0.5^{10}) +(1 \times 0.5^{10} \times 0.5^{0})$ = $\alpha$

$\alpha$ = 0.0019

So, the significance level of the test is 0.002.

(b) It is stated that the probability of heads is 0.1, and we have to find the power of the test.

Here the Type II error is used which states the probability of accepting the null hypothesis given the fact that the null hypothesis is false.

Also, the power of the test is represented by (1 - $\beta$ ).

So, here, X ~ Binom(n = 10, p = 0.1)

$1-\beta$ = P(X = 0/ $H_0$ is true) + P(X = 10/ $H_0$ is true)

$1-\beta$ = $\binom{10}{0}\times 0.1^{0} \times (1-0.1)^{10-0} +\binom{10}{10}\times 0.1^{10} \times (1-0.1)^{10-10}$

$1-\beta$ = $(1\times 1\times 0.9^{10}) +(1 \times 0.1^{10} \times 0.9^{0})$

$1-\beta$ = 0.3487

Hence, the power of the test is 0.3487.

3 0

3 years ago

Is this correct? I tried to solve it on my own haha!

Vladimir [108]

Answer:

yes

Step-by-step explanation:

6 0

2 years ago