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1. Imagine yourself at a fair playing one of the midway games. Pick a game and calculate the expected value and post your results along with how you calculated them. For example, you may decide to throw a basketball to try to win a $10 bear. You paid $2.00 for three shots. What is the expected value? (Please do not use this example in your answer) 2. In one sentence, summarize what you understand of the Central Limit Theorem. 3. Go to a local library; collect a sample of books consisting of the ages of book (based on copyright dates). Plan and describe the sampling procedure, then use the results to construct a confidence interval estimate of the mean age of all books in the library. Please, post and share your results with the class. 4. se the mean and the standard deviation obtained from the last module and test the claim that the mean age of all books in the library is greater that 2005. Share your results with the class.
Given a business situation word problem or case study, such as defective items or waiting lines, use discrete probability concepts to determine a course of action
Gerald Black of BlackFly Airline has an exclusive contract to run flights of a four-passenger aircraft to a remote mining center. His contract requires him to fly if there are any passengers wanting to make the trip. His fixed costs per day ar..
Specialization topic is employee management
What is the calculated value of the test statistic to test for the difference of proportions of nonconforming bag weights, between the two filling lines?
Nicotine Absent Nicotine PresentSelf-Reported Non-Smoker 82 14Self-Reported Smoker 12 52A. What is the probability that at least 3 are hyperlipidemic?
1.if your data is a random sample of size n from the distribution N(4, 7), then what is the distribution of the statistic X(not Z or T)? Z?T?
Identify stories that exist in the data provided. A "story" is an analysis of what the data shows rather than just what the data says. Said another way, how might you interpret the data?
Difference between the variances in assembly times (in seconds) of employees trained in a computer-assisted, individual-based program and those trained in a team based program?
Calculate correlations among the portfolio, SH, and RWM and do you believe the relationships identified are stable and can thus be used going forward?
A company makes a chemical product, and based on extensive experience they believe the critical-to-quality variable for this product has mean 410 and standard deviation 10.
The analysis using critical values and confirm
Evaluate the value of beta for each stock. Which of these stocks would you expect to perform best in an up market? Which would you expect to hold their value best in a down market?
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