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Let X1, X2, and, X3 a represent the times (in minutes) necessary to perform three successive repair tasks at a certain service facility. Suppose they are independent normal random variables with expected values µ1, µ2, and, µ3 and variances σ21, σ22, and σ23, respectively. If µ = µ1 = µ2 = µ3 = 60 and σ21 = σ22 = σ23 = 15, calculate the probability that the total time to finish the three repair tasks is at most 200 minutes.
Over the past few years, banks have strongly promoted online banking and the paying of bills online. In 2003, about 50% of internet users paid bills online.
Determine the sample size necessary to estimate a population mean to within 1 with a 90% confidence given that the population standard deviation is 10, Suppose that the sample was calculated at 150. Estimate the population mean with 90% confidence..
A coin tossed 100 times and 530 heads appear. At a=0.05, test the claim that this is a non biased coin. Use a P-Value. does this suggest the coin is fair?
Choose one of these tests and describe in your own words, the purpose of the test, any particular assumptions or limitations pertaining to the test, and provide an example where you could employ the test.
The trial failed to show significance. How many subjects would be required to detect the difference in proportions observed in the trial with 80% power?
Evaluate the area under the standard normal curve that lies to the left of z = - 3.49 and simple random sample of size
Suppose you are traveling on business to a foreign country for the first time. You do not have a bus schedule or a watch with you. However, you have been told that buses stop in front of your hotel every 20 minutes throughout the day. If you show ..
The gambler is paid later as follows, depending on the number of winners he picked. What is his expected gain? Remember, a loss is a negative gain, and that the bookie keeps the gambler's $20.
For a standard normal curve, find the z-score that separates the bottom 90% from the top 10%.
What is the predicted values of the fund in the period t = 1? What is the predicted value of the fund in the period 3, and period 7?
Richard is one of test takers. Find out the number of questions he can expect to get right on test by random guessing.
Assume in a single game sudden death playoff between team A and team B that team A would win with probability 0.6.
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