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If Punxsutawney Phil sees his shadow on the first Monday in February, then legend says that winter will last 6 more weeks. In 118 years, Phil has seen his shadow 104 times. (a) What is the probability that Phil will see his shadow on a randomly chosen Groundhog Day? (b) What kind of probability is this?
Find out whether this is enough evidence to accept or reject manager's null hypothesis, using alpha = .01. Is this test left-tailed, right-tailed or two-tailed?
Illustrate for what value does probability XYZ will offer a competing product will ABC be indifferent among the alternatives.
The company sells lawnmowers for $895 each. The variable cost per lawnmower is $520. The company's monthly fixed costs are $84,500.
What is the null and alternative hypothesis? What is your final conclusion?
Based on a P-value of 0.0248 the researchers concluded there was evidence that low birth weights may be a risk factor for susceptibility to depression. Explain in context what the reported P-value means.
What are examples of the populations parameters we are trying to estimate for sample data?
Scores are obtained from the Law School Admission Test (LSAT) are normally distributed with a mean score of 550 and a standard deviation of 110.
However, due to the variability in the traffic situation every morning, the standard deviation of these commutes is 5 minutes. Jenn has to be at work by 8:30 A.M. every morning.
An electric power trading company has an option to buy 1,000,000 terawatts of electricity from a producer for $10 per terawatt. Other electric power trading companies have received this option and the company knows a decision must be made quickly.
A survey of 500 internet users found that the users were online an average of 6.5 hours a week with a standard deviation of 3.1 hours. If 49 internet users are randomly selected what is the probability that their average time online will be more t..
We are interested in testing to find out whether the variance of the population is vitally more than 0.003
A slot machine in Reno costs $1 to play. If the jackpot is $1,000 and the expected value is $ - 0.50 find the probability of winning.
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