The interval for mean sale price is $582
According to statement
The given rates are 560, 468, 685, 534, 658, 593
Now,
Sample mean = X / n
Put the values in it and then
(560+ 468+ 685+ 534+ 658+ 593) / 6 = 582.1667
and use this formula S = sqrt [ X2 - n 2 / (n-1) ]
and put the values in these and
S = sqrt [ X2 - n 2 / (n-1) ] = 95.97179
So, The interval for mean sale price is $582
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Answer:
B. load-distance model
Step-by-step explanation:
A. trial and error
Trial and error is "a fundamental method of problem solving. It is characterised by repeated, varied attempts which are continued until success". But this method is not the best in order to compare effectiveness of layouts
B. load-distance model
The load-distance method is a "mathematical model used to evaluate locations based on proximity factors. The objective is to select a location that minimizes the total weighted loads moving into and out of the facility. The distance between two points is expressed by assigning the points to grid coordinates on a map". And that's the correct option since we are trying to measure the effectiveness of layouts quantitatively.
C. exponential smoothing
This is "a rule of thumb technique for smoothing time series data using the exponential window function". Wheighting observations using the exponential function. But this is a techinique used to smooth s time series not to compare effectiveness of layouts.
D.process control charts
The Control Chart is a "graph used to study how a process changes over time with data plotted in time order". But we don't want to see how the process changes the objective is quantitatively compare the effectiveness of layouts, and this one is not the best option for this.
E. mean absolute deviation (MAD)
The median absolute deviation(MAD) is "a robust measure of how spread out a set of data is. The variance and standard deviation are also measures of spread, but they are more affected by extremely high or extremely low values and non normality". But again is just a measure of spread and not allow to compare effectiveness of layouts.
Answer:
a.
b.
\
c.
Step-by-step explanation:
Let 
are the events that denotes the good drive, medium drive and poor risk driver.
Let A be the event that denotes an accident.
The company sells Mr. Brophyan insurance policy and he has an accident.
a.We have to find the probability Mr.Brophy is a good driver
Bayes theorem,
We have to find 
Using the Bayes theorem
Substitute the values then we get
b.We have to find the probability Mr.Brophy is a medium driver
c.We have to find the probability Mr.Brophy is a poor driver
