« previous next »

Author Question: The board of directors of Bidwell Valve Company has made the following estimates for the upcoming ... (Read 70 times)

cmoore54

  • Hero Member
  • *****
  • Posts: 568
on: Jun 24, 2018
The board of directors of Bidwell Valve Company has made the following estimates for the upcoming year's annual earnings: P(earnings lower than this year) = .30 P(earnings about the same as this year) = .50 P(earnings higher than this year) = .20 After talking with union leaders, the human resources department has drawn the following conclusions: P(union will request wage increase  lower earnings next year) = .25 P(union will request wage increase  same earnings next year) = .40 P(union will request wage increase  higher earnings next year) = .90
 a. Calculate the probability that the company earns the same as this year and the union requests a wage increase.
  b. Calculate the probability that the company has higher earnings next year and the union does not request a wage increase.
  c. Calculate the probability that the union requests a wage increase.

Question 2

The practice of concluding do not reject H0 is preferred over accept H0 when we
 a. are conducting a one-tailed test.
  b. are testing the validity of a claim.
  c. have an insufficient sample size.
  d. have not controlled for the Type II error.


jharrington11

  • Sr. Member
  • ****
  • Posts: 365
Reply #1 on: Jun 24, 2018
Answer to Question 1

a. .20
b. .02
c. .455

Answer to Question 2

d


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Stevens-Johnson syndrome and Toxic Epidermal Necrolysis syndrome are life-threatening reactions that can result in death. Complications include permanent blindness, dry-eye syndrome, lung damage, photophobia, asthma, chronic obstructive pulmonary disease, permanent loss of nail beds, scarring of mucous membranes, arthritis, and chronic fatigue syndrome. Many patients' pores scar shut, causing them to retain heat.

Did you know?

The Centers for Disease Control and Prevention (CDC) was originally known as the Communicable Disease Center, which was formed to fight malaria. It was originally headquartered in Atlanta, Georgia, since the Southern states faced the worst threat from malaria.

Did you know?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

Did you know?

Human stomach acid is strong enough to dissolve small pieces of metal such as razor blades or staples.

Did you know?

To prove that stomach ulcers were caused by bacteria and not by stress, a researcher consumed an entire laboratory beaker full of bacterial culture. After this, he did indeed develop stomach ulcers, and won the Nobel Prize for his discovery.

Walrus Ivory masks made by Yupik in Alaska Walrus Ivory masks made by Yupik in Alaska
A healthy diet is made up of well-balanced nutrients. A healthy diet is made up of well-balanced nutrients.
Use dye specifically made for coolant when checking for leaks using a black light. Use dye specifically made for coolant when checking for leaks using a black light.
The camshaft is rotated in relation to the camshaft by the PCM to provide changes in valve timing. The camshaft is rotated in relation to the camshaft by the PCM to provide changes in valve timing.
Estimates of the dates of origin and extinction of the three main groups of hominins (green, blue, a Estimates of the dates of origin and extinction of the three main groups of hominins (green, blue, a
A company that makes cell phones has the following cost structure. They have fixed costs of ... A company that makes cell phones has the following cost structure. They have fixed costs of ...
Video: Types of disease resistance: innate defenses & immunity

For a complete list of videos, visit our video library