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An oil firm plans to drill 20 wells, each having probability 0.2 of striking oil. Each well costs $20,000 to drill; a well which strikes oil will bring in $750,000 in revenue. Find the expected gain from the 20 wells.1. 1.2 million
2. 4 million
3. 800 thousand
4. 2.6 million
The standard deviation was $6050. Is there evidence at the 1% significance level that the cost of attendance has increased? State the hypothesis?
Tree diagram for a probability experiment - Identify the sample space of the probability experiment and determine the number of outcomes in the event. Show a tree diagram if it is appropriate.
Explain clearly, in your own words, what is a Type I error in this context.
Solution utilizing graphical method. Compute the following linear programming problem. Among which of the following points (X, Y) is not a feasible corner point.
Certain tubes manufactured by a company have a mean life of 800 hours and standard deviation of 60 hours. Find the probability that a random sample of 16 tubes taken from the group will have a mean life of?
At a food processing plant, a machine produces 10 lb bags of sugar. In this particular process, it is important that the sugar content does not go below 9.9 lbs. In fact, when the bags of sugar are less than 9.9 lbs, maintenance is performed..
Construct a hypothesis test to determine whether the average weight of a Smoky Bear moving van is more that 12,000 lb. Us a 5% level of significance.
Describe the assumptions of normality and homogeneity of variance. When these assumptions are violated, what are your options?
please help - an aircraft manufacturing company is designing a new passenger seat.an aircraft manufacturing company is
1.my bootstrap distribution after 1000 resamples is shown in the histogram and summary statistics below.based on this
Use these statistics to construct a 94% confidence interval for the mean monthly consumption for the population of all Ontario households.
A survey of 800 women shoppers found that 17% of them shop on impulse. What is the 98% confidence interval for the true proportion of women shoppers who shop on impulse?
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