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You have 4 jars. In the largest jar you have three balls numbered 1 to 3. Then you have 3 colored jars. Jar 1 has a red ball and two orange balls. Jar 2 has one orange ball and 2 red balls. Jar 3 has a red ball, an orange ball and a yellow ball. There are two random variables X and Y w/ X being the draw of a single numbered ball from the large jars and Y being a single ball from one of the colored jars, 1 to 3. Respecify the contents of the numbered jars to make them statistically independent. You can increase the number of balls and each jar must contain a different number of red, orange and yellow balls.
A start-up publishing company estimates that the fixed costs of its first major project will be $190,000, the variable cost will be $18, and the selling price per book will be $34.
Suppose the probability of a boy being born is the same as the probability of a girl being born. Find the probability that a family with three children will have two boys and one girl.
A survey of 10 different suburbs in Dallas Texas found the average gasoline to be $ 1.294 a gallon with a standard deviation of $ .0526. What is the critical value using a=.05 and what is the test value.
For which of the following situations is it appropriate to use a scatter diagram or scatter plot?
A local bank wants to install motion detector burglar alarms. Each has a 70% chance of detecting a burglar. If the bank wants to be 99% certain of detecting a burglar how many need to be installed?
Detremine the mean, standard deviation, and variance for this frequency distribution.
We want to estimate the population mean within 5, with a 99 percent level of confidence. The population standard deviation is estimated to be 15. How large a sample is required?
What is the real world value of the y-intercept and slope in a regression equation? Other than statistics problems, why should I care?
Construct three scatter plots for: (1) percentage alcohol versus calories, (2) percentage alcohol verses carbobydrates, and (3) calories versus carbohydrates
What happens to the boundaries for the critical regions?
From Group of 40 People, a jury of 12 people is selected. In how many various ways can a jury of 12 people be selected?
Without using formulas, explain the meaning of (a) expected value of a random variable; (b) actuarial fairness; and (c) variance of a random variable.
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