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Business firm makes and sells a steel product. Product costs $5 to produce. Product sells for $20. Product requires 4 pounds of steel to make. Firm has 100 pounds of steel. Determine the number of units to produce to make the most profit, given the limited amount of steel available.
Assume that a lot from product 5% non-conforming is submitted. Using Poisson Distribution compute the approximate probabilities that: the lot will be accepted and still in a reduced inspection.
The modem receiver takes a majority vote of the five received bits to estimate the input signal. Find the probability that the receiver makes the wrong decision.
Determine the probability of fatal accident over a lifetime? Describe your reasoning carefully. Hint: Suppose independent events. Why might the supposition of independence be violated?
What is the probability of getting a number less than 5 on both?
a researcher conducted a study on the effects of stress on migraines. the researcher computed the number of migraines
Based on comparing the computed statistics to the critical value which of the following is true - study is designed to investigate whether there is a difference in response to various treatments in patients with rheumatoid arthritis.
a quarter back completes 34 of his passes. we want to observe this quarterback during one game to see how many pass
Assume that each shipment contains a random sample of bearings. a. What is the probability that a given shipment is acceptable?
X is normally distributed with a mean of 250 and a standard deviation of 40. What value of X does only the top 15% exceed?
q1. with random sampling there is homogeneity within a subgroup or stratum.a. judgmental b. simple c. clusterd.
Suppose data collected by observers at randomly selected intersections across the country revealed that in a sample of 85 drivers 60 were using their cell phones. Compute a 97% confidence interval for p, the true driver cell phone use rate.
Determining sample-size is important step when planning a statistical study. It is also quite a difficult task since many variables must be considered.
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