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Claims arrive at random times to the insurance company. Daily amount of claims is normally distributed with mean $1570 and standard deviation $450. Total claims on different days each have distribution and they are probabilistically independent of one another. Round the probabilities to 3 decimal points. a) Determine the probability that amount of total claims over period of 100 days is at least $150,000.
A random sample of the lifetime of 49 UltraIllum light bulbs has a mean of 3,960 hours and a standard deviation of 200 hours. Construct a 95% confidence interval estimate of the mean lifetime for all UltraIllum light bulbs.
A bridge hand consists of 13 cards dealt at random from an ordinary deck of 52 playing cards. How many possible bridge hands are there?
Determine the probability that: a) Exactly 3 will have this mild side effect.
A demonstration to verify that an item meets its reliability requirement is based on obtaining 5 successful tests. If the probability of a successful test is 0.9, find the probability that 10 tests will be required to pass the demonstration.
Draw a tree diagram representing this experiment. Use this tree diagram to find the probabilities below.
You are a realtor with a small business. You use a simple 2 variable linear regression analysis for quick first glance house price estimates using square footage of the house.
Say you think your positive pairs trade returns are due to pairs trades you made on small stocks (measured by market capitalization). Describe how would you test this hypothesis?
Utilizing jacobian method finding the probability density function. Utilizing either the CDF method or Jacobian method illustrate the probability density function of Y is given.
In testing whether each of the independent variables (Xs) in a multiple regression equation is statistically significant in explaining the dependent variable (Y), one uses the:
Further, 20 students get both questions 1 and 2 incorrect, 15 get both questions 2 and 3 incorrect, and 8 get both questions 1 and 3 incorrect, and 7 get all three questions incorrect. Find the probability that a randomly selected student: a) Gets..
Interpret the correlation between each set of variables.
The germination success rate for begonia seeds is 60%. In a package of 200 seeds,
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