Business, 28.05.2020 01:00, sg3635939

"I believe your airplane's engine is sound," states the mechanic. "I've been over it carefully, and can't see anything wrong. I'd be happy to tear the engine down completely for an internal inspection at a cost of $1,500. But I believe that roughness you heard in the engine on your last flight was probably just a bit of water in the fuel, which passed harmlessly through the engine and is now gone." As the pilot considers the mechanic's hypothesis, the cost of Type I error is

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answered: Carri425

the pilot will be out $1,500 unnecessarily.

Explanation:

In statistics a type 1 error is defined as a rejection of a false positive finding or conclusion (true null hypothesis).

For example if a null hypothesis is that a person performed a task while the alternative is that he did not do it. Type 1 error is assuming that the person did not perform the task and sanctioning him, whereas he actually performed the task.

In this scenario the mechanic's theory is that roughness you heard in the engine on your last flight was probably just a bit of water in the fuel, which passed harmlessly through the engine and is now gone.

The cost of rejecting this hypothesis will be to tear the engine down at a cost of $1,500. If it is a type 1 error this cost is unnecessary

answered: Guest

1 all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

answered: Guest

Some disadvantages to leasing a car is that you are counting on someone to give you money every week or month depending on what you decided and if they don't have all of it well what if you needed that money now you as well have to pay not in full. a disadvantages to purchasing a new vehicle is if it is used then not all the time will absolutely everything work. its almost like a trail and era. although if it is a new car they will try to though all these specials and deals at you in your lease and it can be very overwhelming if you are not use to it.

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"I believe your airplane's engine is sound," states the mechanic. "I've been over it carefully, and...