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Suppose event A has a 0.99 probability of occurring and event B has a 0.98 probability of occurring. Compute the odds for event A and the odds for event B Comment on the relative difference between the odds for the two events compared to the relative difference between the probabilities. How are the odds deceptive in this case?
In the past, Bly has tended to estimate warranty expenses on the high end to be conservative. He must work with the dealership's accountant at year-end to arrive at the warranty expense accrual for cars sold each year.
Do creative people make better salespeople? Ten sales staff in a large company were given a creativity test (scores range from 0 to 20
In baseball, the term "batting average" is employed as one way to measure a player's offensive performance. If we were to consider the idea of batting average in statistical sense
An advertising agency has been hired by a manufacturer of pens to develop an aqdvertising campaign for the upcoming holiday season. To prepare for this project, the research director decides to initiate a study of the effect of advertising on pro..
You are the owner of a small casino in Las Vegas. You want to reward high rollers who come to your casino. You want to give free accomodations to no more than 10% of your patrons. Suppose that the mean amount wagered by all patrons is $287 with a ..
What is the probability that a randomly chosen employee is an Administrator if the employee has the opportunity of gaining promotion next year?
Chi square compares actual data with expected data. What would the expected data be? For example, if I know the percentage of brown M&Ms in a bag is 40% set by the company
A video rental store has two video cameras available for customers to rent. Historically, demand for cameras has followed this distribution:
A cola dispensing machine is set to depense 9 ounces per cup with a standard deviation of .5 oz .THe manufacturer would like to set the control limits so that for samples of 16,
Probability that the entire batch will be rejected?
use the following sample data to test whether the GPA are different at the 0.05 level of significance.
Who inhaled oxytocin were more likely to give their money to a trustee compared to people who inhaled an inactive placebo. For this experimental study, identify the independent variable and the dependent variable.
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