ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Q:6 a and b
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- 2. A city had an unemployment rate of 7%. The mayor pledged to lower this figure and supported programs to decrease unemployment. A group of citizens wanted to test with 0.032 label of significance if the unemployment rate had actually decreased, so they obtained a random sample of 500 citizens to see what proportion of the sample was unemployed. Only 32 citizens in the above sample is still unemployed. What is the probability of Type II error if the actual unemployment rate is 6.5% please don't use software everything needs to be done by hand. Explain because I don't understand my professor. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.arrow_forwardGive typing answer with explanation and conclusionarrow_forwardQuestion #8 was not answered.arrow_forward
- The proportion of vehicles which drive above the speed limit on a freeway is 85%. Suppose 100 vehicles are randomly clocked. 20 If each speeding vehicle is issued a $185 speeding ticket, the expected value of the ticket amount is $________. a $15,725 b $14,560 c $13,480 d $12,485arrow_forwardA regional automobile dealership sent out fliers to perspective customers indicating that they had already won one of the three different prizes: automobile valued at $25,000, a $100 gas card, or a $5 Walmart shopping card. To claim his or her prize, a prospective customer needed to present the flier at the dealership’s showroom. The fine print on the back of the flier listed the probabilities of winning. The chance of winning the car was 1 out of 31,748, the chance of winning the gas card was 1 out of 31,748, and the chance of winning the shopping card was 31,746 out of 31,748.How many fliers the automobile dealership sent out? Please explain. Using your answer to above and the probabilities listed on the flyer, what is the expected value ofthe price won by a prospective customer receiving a flyer? Demonstrate all necessary steps. Using your answer to the first question and the probabilities listed on the flyer what is the standarddeviation of the value of the price one by the…arrow_forwardQuestion 21 On the average, the amount of money that a customer spends in the store is $40 with a standard deviation $1O. The probability that the total spending of 4 customers in the store is over $170 is closest to 0.1543 0.3085 0.2376 O 0.4013 not able to calculatearrow_forward
- clai)= A.Q, claz) = Bq A CA, B,a,P) ail positive Q = Dp> all positivearrow_forward2x+3z = 5 and 3x+2z = 5. The value of both x and z is A/arrow_forwardSelect 3 courses from a list of 7. How many different courses can be selected? Group of answer choices 7*6*5 = 210 (7*6*5)/3 = 70 (7*6*5)/(3*2*1) = 35 3*7 = 21 7*6 = 42arrow_forward
- Only typed answerarrow_forward5arrow_forwardf (x, y) = 3x² + y³ + 4xy² +8 Of(x,y) dr Of(x,y) dy What is the value of when x = 4 and y = 5? (Note: the answer may not be a whole number, so please round to the nearest hundredth) (Note: the numbers may change between questions, so read carefully)arrow_forward
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