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Probabilities in real lifeCan you think of situations in the business world or other real life situations where you would need to calculate or estimate probabilities?
As a corollary, would you say that probabilities have to be numeric (quantitative) in order to be useful to business and industry? Why or why not?
Application of the Binomial Distribution to an Aircraft. Suppose you are flying a four-engine aircraft on a 10-hour transoceanic flight. Assume that it has been established that the probability of an engine of the type you have on your aircraft fa..
It is known that 20% of old cars cannot pass the emission test . Four old cars are selected randomly . x is the number of card in the sample that cannot pass the emission test.
State at least two hypotheses you might use, specifically stating the null & alternate hypotheses & the type errors that might occur.
What is the probability that during a 5-minute interval no one will enter the store? What time interval is such that the probability is 1/2 that no one will enter the store during that interval?
Calculate the coefficient of multiple determinations
Problem solving on population mean
In your opinion, is a transformation needed? Explain your response. If you believe a transformation is needed, conduct the transformation.
The equation of tangent line.
nna bought twelve pieces of gum consisting of only red gumballs & white gumballs. Find number of white gumballs from 12 pieces.
What is the probability of getting the indicated result
Finding the accumulated value of compound interest.
Using expeccted value to find a fair bet in five card stud. If casino five card stud were fair, how much should it pay to a player who bets $10 and gets a full house versus a dealer who gets two pair?
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