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Exhibit 5-11
A local bottling company has determined the number of machine breakdowns per month and their respective probabilities as shown below:
-Refer to Exhibit 5-11. The expected number of machine breakdowns per month is
Standard Deviation
A measure of the dispersion or variability in a set of data points, representing the average distance from the mean.
Robustness
The ability of a statistical method or test to remain effective under a variety of conditions or assumptions, or when faced with violations of those assumptions.
Sign Test
A non-parametric test used to evaluate the difference between paired samples, based on the direction of the differences between the pairs, not their magnitude.
T Test
A statistical test used to compare the means of two groups or the mean of one group with a known value, under the assumption of normally distributed data.
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