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Suppose you want to sell your house and you have decided to accept the first offer exceeding M dollars, say. Assume that the offers are i.i.d. with common distribution F. Find the expected number of offers received before selling the house.
I do not really know how to start the problem. I expect that I have to use either the Poisson or Exponential Distribution but so far trying this has not lead to anything.
Using the 0.05 level of significance, is there evidence that the population mean is above $170?
It is impossible to obtain a standard error less than 2 for any sized sample.
After polling every 8 th graduate, a major university estimated annual salary of its alumni to be $103,000. What sampling technique was used?
The average cost per night of a hotel room in New York City is $273 (SmartMoney, March 2009). Assume this estimate is based on a sample of 45 hotels and that the sample standard deviation is $65.
A new county hospital is attempting to determine whether it needs to add a particular specialist to its staff. Five percent of the general hospital population in the county contracts the illness the specialist would treat.
If an original set of measurements is made in inches and has mean of 36 and variance of 144, what will be the mean, variance, and standard deviation if:
In testing the difference between two means from two independent populations, the sample sizes do not have to be equal to be able to use the Z statistic.
This linear regression model was fitted to a sample of size 50 to produce the following regression equation: yhat = 145 + 1.2x1 + 300x2.
Use the normal distribution of SAT critical reading scores for which the mean is 507 and the standard deviation is 121. Assume the variable x is normally distributed.
Depends on the satellite information illustrate what is the expected number µ of real forest fires on the Seward Peninsula.
If 900 users visited the site, would the probability that more than 250 of them click on an ad be higher or lower than the answer found in part
For the following scores, find the (a) mean, (b) median, (c) sum of squared deviations, (d) variance, and (e) standard deviation:
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