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3 years ago

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Suppose that you are given a decision situation with three possible states of nature: S1, S2, and S3. The prior probabilities ar

e P(S1) = 0.16, P(S2) = 0.57, and P(S3) = 0.27. With sample information I, P(I | S1) = 0.13, P(I | S2) = 0.07, and P(I | S3) = 0.19. Compute the revised or posterior probabilities: P(S1 | I), P(S2 | I), and P(S3 | I). If required, round your answers to four decimal places.

1 answer:

seropon [69]3 years ago

6 0

The answer would be 1.0067

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Will improving customer service result in higher stock prices for the companies providing the better service? "When a company’s

Orlov [11]

Question:

Company 2007 Score 2008 Score

Rite Aid 73 76

Expedia 75 77

J.C. Penney 77 78

a. For Rite Aid, is the increase in the satisfaction score from 2007 to 2008 statistically significant? Use α= .05. What can you conclude?

b. Can you conclude that the 2008 score for Rite Aid is above the national average of 75.7? Use α= .05.

c. For Expedia, is the increase from 2007 to 2008 statistically significant? Use α= .05.

d. When conducting a hypothesis test with the values given for the standard deviation,

sample size, and α, how large must the increase from 2007 to 2008 be for it to be statistically significant?

e. Use the result of part (d) to state whether the increase for J.C. Penney from 2007 to 2008 is statistically significant.

Answer:

a. There is sufficient statistical evidence to suggest that the increase in satisfaction score for Rite Aid from 2007 to 2008 is statistically significant

b. There is sufficient statistical evidence to suggest that the 2008 Rite Aid score, is above the national average of 75.7

c. The statistical evidence support the claim of a significant increase from 2007 to 2008

d. 1.802 and above is significant

e. The increase of J. C. Penney from 2007 is not statistically significant.

Step-by-step explanation:

Here we have

n = 60

σ = 6

μ₁ = 73

μ₂ = 76

We put H₀ : μ₁ ≥ μ₂ and

Hₐ : μ₁ < μ₂

From which we have;

$z=\frac{(\mu_{1}-\mu_{2})}{\sqrt{\frac{\sigma_{1}^{2} }{n_{1}}+\frac{\sigma _{2}^{2}}{n_{2}}}} = \frac{(\mu_{1}-\mu_{2})}{\sqrt{\frac{2\sigma_{}^{2} }{n_{}}}}}$

Plugging in the values we have

$z = \frac{(73-76)}{\sqrt{\frac{2\times 6^{2} }{60_{}}}}} = -2.7386$

The probability, P from z function computation gives;

P(Z < -2.7386) = 0.0031

Where we have P < α, we reject the null hypothesis meaning that there is sufficient statistical evidence to suggest that the increase in satisfaction score for Rite Aid from 2007 to 2008 is statistically significant

b. To test here, we have

H₀ : μ ≤ 75.7

Hₐ : μ > 75.7

The test statistic is given as follows;

$z=\frac{\bar{x}-\mu }{\frac{\sigma }{\sqrt{n}}} = \frac{76-75.7 }{\frac{6 }{\sqrt{60}}} = 0.3873$

Therefore, we have the probability, P given as the value for the function at z = 0.3873 that is we have;

P = P(Z > 0.3873) = P(Z < -0.3873) = 0.3493

Therefore, since P > α which is 0.05, we fail to reject the null hypothesis, that is there is sufficient statistical evidence to suggest that the 2008 Rite Aid score, is above the national average of 75.7

c. Here we put

Null hypothesis H₀ : μ₁ ≥ μ₂

Alternative hypothesis Hₐ : μ₁ < μ₂

The test statistic is given by the following equation;

$z=\frac{(\mu_{1}-\mu_{2})}{\sqrt{\frac{\sigma_{1}^{2} }{n_{1}}+\frac{\sigma _{2}^{2}}{n_{2}}}} = \frac{(\mu_{1}-\mu_{2})}{\sqrt{\frac{2\sigma_{}^{2} }{n_{}}}}}$

Plugging in the values we have

$z = \frac{(75-77)}{\sqrt{\frac{2\times 6^{2} }{60_{}}}}} = -1.8257$

The probability, P from z function computation gives;

P(Z < -1.8257) = 0.03394

The statistical evidence support the claim of a significant increase

d. For statistical significance at 0.05 significant level, we have z = -1.644854

Therefore, from;

$z=\frac{(\bar{x_{1}}-\bar{x_{2}})-(\mu_{1}-\mu _{2} )}{\sqrt{\frac{\sigma_{1}^{2} }{n_{1}}-\frac{\sigma _{2}^{2}}{n_{2}}}}$ . we have;

$z \times \sqrt{\frac{\sigma_{1}^{2} }{n_{1}}+\frac{\sigma _{2}^{2}}{n_{2}}} + (\mu_{1}-\mu _{2} )}{} ={(\bar{x_{1}}-\bar{x_{2}})$

Which gives

${(\bar{x_{1}}-\bar{x_{2}}) = z \times \sqrt{\frac{2\sigma_{}^{2} }{n_{}}}} + (\mu_{1}-\mu _{2} )}{} = -1.644854 \times \sqrt{\frac{2\times 6_{}^{2} }{60_{}}}} + 0 = -1.802$

Therefore an increase of 1.802 and above is significant

e. Based on the result of part d. we have for J.C. Penney from 2007 to 2008 an increase of 1 which is less than 1.802 at 5% significant level, is not significant.

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3 years ago

Which are true?

Tanzania [10]

Answers:

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False. States vary in sales tax rates. For instance, Alabama's sales tax is 4% while Arkansas is 6.5%
True. You can do an online search of "states without sales tax" to find sources to help confirm this. Keep in mind that while the state overall does not impose sales tax, this does not mean the city and/or county governments won't impose sales tax. Unfortunately it's hard to escape taxes and sales tax is just one of those inevitable things.
True. As mentioned in problem 3, local governments (city and/or county) tend to impose taxes of their own on top of state sales taxes. Sales taxes fund state programs while local taxes fund local programs. Though some local government programs will use state or federal dollars.

6 0

3 years ago

Patton's troops covered 48 miles in 4 hours. he then increased the speed by 8 miles an hour. if the total distance was 108 miles

masya89 [10]

48 miles/4hrs = 12 mph

Increased Speed 12 mph + 8mph = 20 mph

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klio [65]

Answer:

See explanation below

Step-by-step explanation:

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Pani-rosa [81]

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