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There are two machines that break down with a probability of 0.2 (each) per day. This is a binomial probability of 0, 1 or 2 failures per day with probabilities of .64, .32 and .04 respectively. You can hire one or two repairmen at a cost of $50 per man per day. Machine downtime costs you $80 per hour if one machine is down but $120 per hour if both machines are down. One man can fix a machine in four hours and two men working together can fix a machine in three hours.The total maintenance cost (including downtime cost) in the case of two repairmen on duty is:
a. $96b. $134c. $150d. $196e. None of these.
Decide whether the normal sampling distribution can be used. If it can be used, test the claim about the population proportion p at the given level of significance α using the given sample statistics.
Test the hypothesis that the proportion of all student cell phone users in the United States who own a smartphone is 35%. Use the 5% level of significance and report your results.
How large a sample must one take to be 90% confident that the estimate is within 0.05 of the true proportion of women over 55 who are widows?
Given a normal distribution with a mean of 100 and a standard deviation of 10, what is the probability that
Assume that the price of non-dividend paying stock is $32, its volatility is 30%, and the risk-free rate for all maturities is 5% per annum. Use derivagem to calculate the costs of setting up the following positions.
Pierre has a utility function for total asset position of u(x)=ln(x), His assets currently consist of $50,000 in cash and a rare violin he inherited from a rich uncle which is valued at $100,000.
Use traditional hypothesis test approach. Draw a graph showing the test statistic and critical values. Assume the population has a distribution that is approximately normal and that the sample is a simple random sample.
A bank official reported the results of a regression analysis designed to predict the bank's charges (y), measured in dollars per month, for services rendered to local companies.
Suppose that during a basketball practice. Joe tries 3 shots from the free throw line; imagine further that he has a probability equal to 0.6 of making each shot and that the attempts are independent. Let 'X' be the number of baskets he makes in t..
The Greenberg public hearing meeting turned stormy. Citizens from four suburbs were gathered at city hall to try to get the city's federal funds for their own suburbs. The government recently awarded $750,000 to the city for road improvements. The..
What is the predicted GPA if a person watches 12 hours of television per week?
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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