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For multiple sclerosis patients we wish to estimate the mean age at which the disease was first diagnosed. We want a 90% confidence interval that is 8 years wide. If the population variance is estimated to be 85 from previous research, how large a sample should be taken?
In the game of roulette, a player can place a $8 bet on the number 33 and have a 1/38 probability of winning. If the metal ball lands on 33, the player gets to keep the $8 paid to play the game and the player is awarded an additional $280.
Suppose two companies, A and B, that produce super computers. Each can manufacture the next generation super computer for math or for chip research.
Job Changes: A sociologist is interested in the relation between x = number of job changes and y = annual salary (in thousands of dollars) for people living in the Nashville area. A random sample of 10 people employed in Nashville provided the fol..
You have observed the following returns over time. Suppose that the risk free rate is 6 percent and the market risk premium is 5 percent.
Little Kona is a small coffee corporation that is planning entering a market dominated through Big Brew. Each corporation's profit depends on whether Little Kona enters and whether Big Brew sets a high price or a low price.
Assuming the life length of batteries is normally distributed, what is the p-value associated with this test? Place your answer, rounded to 3 decimal places in the blank. For example, 0.0234 would be a legitimate entry.
The market for olive oil in new York City is controlled by 2-families, Sopranos and Contraltos. Both families will ruthlessly eliminate any other family that attempts to enter New York City olive oil market.
Determine the solution to the given advertising decision game between Coke and Pepsi, assuming the companies act independently.
What is the probability that one of the women will speak first? What is the probability that Abby will speak before Cameron does?
If a citizen who voted in the last election is randomly selected, what is the probability that they are a Democrat?
Suppose you have been offered chance to participate in a Treasure Hunt game whose rules are as follows. There are 3-colored boxes: red, green and yellow.
A certain lottery game is played by choosing four numbers from 1 to 15 (no repetition of numbers;order of the numbers does not matter).
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