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In the game of Keno, if you make a $1 bet on a pair of numbers, you have a 94% chance of losing (and, thus, losing your one dollar bet), but a 6% chance of winning $11 (in addition to getting your one dollar bet returned). Design a box model for your winnings (in dollars) on a single $1 bet on a pair of numbers in a game of Keno. Use as few balls as possible. Place the "values" in the table in ascending order (from smallest to largest), and place their corresponding counts in the space next to them.
a sample of n 8 scores has a mean of m 12. one new score is added to the sample and the new mean is found to be m 13.
Test the manager's claim at 5% and 1% significance level tests.
A monthly budget of $100,000 is available for both advertising and purchase of the fragrances. Develop and solve a linear optimization model to determine how much of each type of perfume should be produced to maximize the net profit.
Conduct a one-tailed hypothesis test given the information below. A certain brand of Green Energy light bulbs was advertised as having an average illumination life-span of 2,500 hours.
franks machine shop operates 250 days per year. frank sells 5000 units per year of his most popular item a specialty
sample mean = 3.5, standard deviation = 0.9. Use 98% confidence interval to evaluate difference in mean weekly deposits into IRAs for each bank.
Find the alternative would be chosen according to expected value and utility.
From a practical point of view, what is the difference between the frequency distribution and relative frequency distribution? Why is a cumulative relative frequency distribution so much more informative that just the relative frequency distributi..
The Confused Bricklayer Robot Problem - Draw a picture to illustrate the initial problem situation and how can you describe a possible solution?
What is the probability that a particular driver had exactly two speeding violations?
Determine the Interval of Classes and separate graph draw and label the Cumulative Frequency Polygon and separate graph draw and label the Cumulative Frequency Polygon.
for a normal distribution identify the z-score location that would seperate the distribution into 2 sections so that
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