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1. The time (in hours) until failure of a transistor is a random variable X which is exponentially distributed with mean = 50. It is observed that after 40 hours the transistor is still working. Find the conditional probability that X > 65.
2. Wires manufactured for the use in a computer system are specified to have resistances between 0.12 and 0.14 ohms. The actual measured resistances of the wires produced by company A have a normal distribution with a mean of 0.13 ohm and a standard deviation of 0.005 ohm. Find the probability that a randomly selected wire from company A's production will meet the specifications.
The mean number of passengers per flight is 160 with a standard deviation of 20. The aircraft used for the route has 200 seats.
I did a study correlating net profit per location with expenditures on an in-house promotion, and got a correlation of about .15, and that was received very well.
Formulating null and alternative hypothesis to test the claim averaging about $5000.
Using the EMV criteria (you wish to maximize expected profits in this case) determine what course of action that Optel should take. Make sure to state the best strategy in words.
Construct a 95% confidence interval for the proportion of people disagreeing with the statement.
Security B has an expected return of 12 percent, a standard deviation of returns of 10 percent, a correlation with the market of 0.7 and a beta coefficient of 1.0.
If an urn is selected at random and a ball is drawn, find the probability it will be red.
The average price of a sample of 12 bottles of diet salad dressing taken from different stores is $1.43. The standard deviation is $0.09. The average price of a sample of 16 low-calorie frozen desserts is $1.03.
A street performer approaches you to make a bet. He shows you three cards: one that is blue on both sides, one that is orange on both sides, and one that is blue on one side and orange on the other.
In each of the following cases, decide whether or not a binomial distribution is an appropriate model, and give your reasons.
To test whether or not there is a difference between treatments A, B, and C, a sample of 12 observations has been randomly assigned to the 3 treatments.
Set up a null and alternative hypothesis to test whether this sample is falling below expectations.
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