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The L. M. Corporation purchases old, run-down buildings, remodels them, and then sells them. The corporation has the opportunity to purchase a building for $100,000, which will cost $60,000 to remodel. The manager thinks there is a 50% chance that the building will sell for $120,000, yielding a $40,000 loss, a 20% chance that the building will sell for $180,000, yielding a $20,000 profit, and a 30% chance that the building will sell for $230,000, yielding a $70,000 profit. What is the expected profit? = E( X - ) = ( xi - What is Var(X)?
A research study will measure the cost of the new method over a sample production period. Develop the null and alternative hypothesis most appropriate for this study.
The company production manager feels that a standard deviation of more than three bodies a day indicates unacceptable production rate variations. Explain whether this is acceptable?
Independent random samples of 12 users of the other system rate their system on the same scale. Based on these data, are the two telecommunication system equally liked? Explain.
A statistician wants to estimate the mean weekly family expenditure on clothes. He believes that the standard deviation of the weekly expenditure is $125.
Suppose that four American adults are asked if they ate at table-service restaurants last week. What is the probability that all of them say yes?
At some point too much stimulation will limit the ability to focus and pay attention. What would happen to the size and the sign of the correlation coefficient if we correlated these two variables?
Choose at random 4 of those under 21 to interview about attitudes toward alcohol. You have given every student the same chance to be interviewed. What is that chance?
The mean pulse rate for males. Define the null and alternative hypothesis. SD= 18.48 pulse rate for males 25.07 women.
Let independent variable x represent years since 1950. Determine quadratic regression model for per capita cigarette consumption.
a) Under what circumstances can z be greater than one? b) Under what circumstances can a probability be greater than one?
Suppose that we observe a random sample size n from a normally distributed population. If we are able to reject H0:µ = µ in favor of a two-tailed alternative hypothesis at the 10% significant level
Find the mean lifetime of this device? A electrical device consists of 4 identical components arranged so that the device functions if and only if all four components are working.
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