The article Uncertainty Estimation in Railway Track Life-Cycle Cost (J. of Rail and Rapid Transit, 2009) presented
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A normal probability plot of the data shows a reasonably linear pattern, so it is plausible that the population distribution of repair time is at least approximately normal. The sample mean and standard deviation are 249.7 and 145.1, respectively.
a. Is there compelling evidence for concluding that true average repair time exceeds 200 min? Carry out a test of hypotheses using a significance level of .05.
b. Using σ = 150, what is the type II error probability of the test used in (a) when true average repair time is actually 300 min? That is, what is β(300)?
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Probability And Statistics For Engineering And The Sciences
ISBN: 9781305251809
9th Edition
Authors: Jay L. Devore
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