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An investor wishes to buy a company's stock. Based on her market research, she has determined that there is a 0.6 probability of making a $20,000 profit, and a 0.4 probability of a $25,000 loss. She computes the expected value to be $2000. Assuming the value is correct, would you advise her to proceed with the investment? In general, what does the expected value tell us about an event? Can we conclude that if she repeats the same investment twice, the mean value of her net gain/loss will again be $2000? What if she repeats the experiment 10 times? Respond to at least two of your classmates' postings.
Formulate the hypotheses that can be used to determine whether the sample data support the hypothesis that the mean fuel efficiency rating for midsize cars is greater than the mean fuel efficiency rating for large cars.
Without using formulas, explain the meaning of (a) expected value of a random variable; (b) actuarial fairness; and (c) variance of a random variable.
If an overrun contract was bid at 12 million dollars, what does the least-squares line predict for the cost of overrun (as a percent of bid price)?
A sample size n=100 is taken from a population that has a proportion p= 1/5. If, in the sample, ^p=0.25, will the 95% confidence interval for p contain the true value of p^is at top p at bottom ^p
Develop a linear regression equation for the given data and forecast how much money Robert will win if he spends $30.
Standard deviation of 12%. Assume that scores in both classes follow a normal distribution. Convert Maria's midterm score of 84 to a standard z score.
Differentiate both sides of the equation from part (a) with respect to x to obtain:
Find the values of the correlation coefficient and the coefficient of determination. Find the slope, y-intercept, and equation of the regression line for the data. Plot the points and a graph of the regression line on the same axes.
A major hurricane is a hurricane with wind speeds of 111 miles per hour or greater. During the 20th century, the mean number of major hurricanes to strike the U.S. mainland per year was about 0.7.
Five persons donate blood at the clinic on a particular day. Find the probability that at least one of the five does not have Rh+ blood.
For the following data, determine whether or not right-hemisphere damage results in significantly reduced performance on the spatial skills task. Test with alpha set at .05 with one tail. The data are as follows:
Subcontracting can handle a maximum of 10 units per month. Beginning inventory is zero. Develop a plan that minimizes total cost. No back orders are allowed.
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