This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: List three methods of assessing probabilities and indicate which is least likely to be used in ... (Read 79 times)

Haya94

  • Hero Member
  • *****
  • Posts: 558
on: Jun 24, 2018
List three methods of assessing probabilities and indicate which is least likely to be used in business decision making.
 
  What will be an ideal response?

Question 2

Recently, a company tested three different machine types to see if there was a difference in the mean thickness of products produced by the three. A random sample of ten products was selected from the output from each machine.
 
  Given this information, the proper design to test whether the means are equal is a one-way ANOVA balanced design. Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

tuate

  • Sr. Member
  • ****
  • Posts: 332
Reply #1 on: Jun 24, 2018
Answer to Question 1

The three methods of probability assessment are classical assessment, relative frequency of occurrence, and subjective assessment. The classical method has very little application for business decision making since rarely are the elementary events equally likely.

Answer to Question 2

TRUE


Haya94

  • Member
  • Posts: 558
Reply 2 on: Jun 24, 2018
Wow, this really help

debra928

  • Member
  • Posts: 342
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Essential fatty acids have been shown to be effective against ulcers, asthma, dental cavities, and skin disorders such as acne.

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.

Did you know?

The average adult has about 21 square feet of skin.

Did you know?

There can actually be a 25-hour time difference between certain locations in the world. The International Date Line passes between the islands of Samoa and American Samoa. It is not a straight line, but "zig-zags" around various island chains. Therefore, Samoa and nearby islands have one date, while American Samoa and nearby islands are one day behind. Daylight saving time is used in some islands, but not in others—further shifting the hours out of sync with natural time.

Did you know?

The Centers for Disease Control and Prevention has released reports detailing the deaths of infants (younger than 1 year of age) who died after being given cold and cough medications. This underscores the importance of educating parents that children younger than 2 years of age should never be given over-the-counter cold and cough medications without consulting their physicians.

Breast Palpation Methods, Wedge Breast Palpation Methods, Wedge
Assessing for Phalen's Sign Assessing for Phalen's Sign
Client position when assessing jugular vein distention. Client position when assessing jugular vein distention.
Patient Teaching Methods Cont. Patient Teaching Methods Cont.
Methods for Parenteral Administration of Drugs Methods for Parenteral Administration of Drugs
Research Methods Research Methods
Video: Monohybrid crosses

For a complete list of videos, visit our video library