Statistics > QUESTIONS & ANSWERS > STATISTICS 101 updated docs questions and answers solved solution 2020-2021 (All)

STATISTICS 101 updated docs questions and answers solved solution 2020-2021

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STATISTICS 101 updated docs questions and answers solved solution 2020-2021 1. bizneznuz.com, an online business news agency, conducts a poll. Visitors to the site are invited to click on one of two buttons in order to register that they "agree" or "disagree" with the following statement: "Funding for space exploration should be left entirely to the private sector." If bizneznuz.com wants to accurately measure its online readership's support for government-funded space exploration, this poll will deliver a biased and unrepresentative response because answer choices: • The pool of respondents is self-selected • All responsdents have internet acces • Bizneznuz.com targets mainly the business community • All the above 2. The average height of American women is distributed normally, with a mean of inches and a standard deviation of 2.5 inches. Approximately what percentage of American women are taller than 58.5 inches, but shorter than 68.5 inches? 50% 68% 84% 95% Z (x >58.5) = (58.5 – 63.5)/2.5 = -2 P (z >-2) = 1- 0.0228= 0.9772 Z (x >68.5) = (68.5 – 63.5)/2.5 = 2 P (z >2) =0.0228 So, P (-2 120,000 x> 500,000 15. The WH meat-packing company must decide whether or not to recall one week's production of kielbasa due to possible contamination. An outbreak of non-fatal food poisoning may be linked to WH. If so, WH may face a lawsuit. The tree below summarizes the decision. The EMV of the cost of not issuing a recall is $80,000. Based on EMV, the manager should not issue the recall. For what values of p = Prob[WH is implicated] is not recalling the kielbasa preferable to recalling the kielbasa, in terms of EMV? (use table below) • P<15% • p>15% • p<85% • none of the above EMV should be less than 120,000 for recalling = (4,000,000 *0.2)*x (4,000,000 *0.2)*x < 120,000 X< 15% 16. The WH meat-packing company must decide whether or not to recall one week's production of kielbasa due to possible contamination. An outbreak of non-fatal food poisoning may be linked to WH. If so, WH may face a lawsuit. The tree below summarizes the decision. The EMV of the cost of not issuing a recall is $80,000. Suppose there were a way to know for certain whether WH would be implicated or not. What would be the value of this perfect information? (use table below) • $68,000 • $12,000 • $80,000 • None of the above EM at perfect information = 0 So,value of perfect information = 80000 -0 = 80,000

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