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A typical slot machine in a Nevada has three wheels, each marked with twenty symbols at equal spacing's around the wheel. The machine is engineered so that on each play the three wheels spin independently, and each wheel is equally likely to show any one of its twenty symbols when it stops spinning. On the central wheel, nine out of the twenty symbols are bells, while there is only one bell on the left wheel and one bell on the right wheel. The machine pays out the jackpot only if the wheels come to rest with each wheel showing a bell.
a) Calculate the probability of hitting the jackpot.
b) Calculate the probability of getting two bells but not the jackpot.
c) Suppose that instead there were three bells on the left, one in the middle, and three on the right. How would this affect the probabilities in a) and b)? Explain why the casino might find the 1 -9 -1 machine more profitable than a 3 -1 -3 machine.
A hair stylist has been in business one year. Sixty percent of his customers are walk-in business. If he randomly samples eight of the people from last week's.
Based on this reality, the one-way analysis of variance provides the most effective tool for determining if there are any statistically significant differences in the population.
Run the simple linear regression and summarize the results. Give the statistical model for simple linear regression for this problem
What discount rate should a house-flipper use if they want to stay in business for awhile? Give an example
Explain the resource-based view and its relation to strategic management
a sample of 250 observations is selected from a normal population for which the population standard deviation is known
Suppose 1.5 percent of the antennas on new Nokia cell phones are defective. For a random sample of 10 antennas, find the probability that:
1.using your own words what is statistical variability? why is it important for researchers to understand the
Suppose (as is roughly true) that 88% of college students were employed last summer. A samply survey interviews SRS of 400 college students at OSU. In the SRS, 324 college students were found to be employed last summer.
Test the hypothesis that whether or not an individual has hypertension is independent of how much that person smokes.
a. Construct a simple price index for item Y using Year 0 as the base year. b. Determine the simple aggregate price index using Year 0 as the base year.
Identity theft. A study of identity theft looked at how well consumers protect themselves from this increasingly prevalent crime.
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