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Q1) Determine mean of following probability distribution?
1
0.20
2
0.10
3
0.35
4
0.05
5
0.30
Q2) If gambler rolls two dice and gets sum of four, he wins $10; and if he gets sum of three, he wins $25. Cost to play game is $5. What is expectation of this game?
A range of values constructed from sample data so that the parameter occurs within that range at a specified probability is:
2 laptops are chosen at random without replacement, what is the probability that both are high priced?
A sociologist wants to describe if the life expectancy of people in Africa is lesser than the life expectancy of people in Asia.
Drug sniffing dogs must be 95% accurate. A new dog is being tested and is right in 46 of 50 trials. Find a 95% confidence interval for the proportion of times the dog will be correct.
Calculate the population mean and compare it to the mean of the sampling distribution.
Confirm that these statements are accurate by finding the geometric mean rate of increase.
A recent article in the Myrtle Beach Sun Times reported that the mean labor cost to repair a colour television is $90 with a standard deviation of $22. Monte's TV Sales and Service completed repairs on two sets this morning. The labor cost for the..
Solve different inventory control problems using an appropriate OR method.
Calculate the mean absolute deviation based on the 2-day moving average. You can have a forecast and an actual temperature.
Assume that 60 percent of the voters in a particular region support a candidate. Find the probability that a sample of 1,000 voters will yield a sample proportion in favor of the candidate within 4 percentage points of the actual proportion.
Determine Probability using exponential distribution.The average time between failures of a laser machine is exponentially distributed with the mean of 40,000 hours.
A researcher was interested in determining whether incentives affect the response rate in surveys. A simple random sample of 50 adult residents of a large city was selected. All were mailed a survey and promised a check upon returning a completed ..
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