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Question: Find out your yearly car insurance cost. If you don't have a car, find out the yearly cost for a friend or relative. Now assume you will either have an accident or not, and if you do, it will cost the insurance company $5000 more than the premium you pay. Calculate what yearly accident probability would result in a "break-even" expected value for you and the insurance company. Comment on whether you think your answer is an accurate representation of your yearly probability of having an accident.
A community health association is interested in estimating the average number of maternity days women stay in the local hospital.
the manager of a video library would like the variance of the waiting times of the customers not to exceed 2.30
the table below provides a firms sales. given ? 0.2 ? 0.15 and ? 0.05 and placing the data into quarters.a calculate
The average birth weight of domestic cats is about 3 ounces. Assume that the distribution of birth weights is Normal with a standard deviation .4 ounces.
Given that the student selected is a social science major, what is the probability that she is also a sophomore? Write your responses as fractions.
) Find the probability of being dealt a two-card blackjack hand worth a total of no less than 12 points and no more than 17 points?
Illustrate what decision should be made depended on the mini-max regret criterion. Decision based on the Mini-max criterion.
the state test scores for 12 randomly selected high school seniors are shown on the right. assume the population is
In an experiment designed to test the output levels of six treatments, the following results were obtained:
1) What is the variable expense ratio? 2) What is break-even point in unit sales? 3) What is the contribution margin ratio? 4) What is the break-even point in dollars?
Twenty percent of U.S. mortgages are "underwater" (The Boston Globe, March 5, 2009). A mortgage is considered underwater if the value of the home is less than what is owed on the mortgage. Suppose 100 mortgage holders are randomly selected.
If the difference between two means is not statistically significant, how certain are you that the independent variable really does not affect the dependent variable?
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