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The life span of an electronic component that costs $100 is exponentially distributed with a mean on 10 years. The manufacturer will refund $100 if it fails within the first year. If it fails after one year but before two years the manufacturer will refund $50. What is the expected refund cost to the manufacturer on the component?
Service times are exponentially distributed and average 24 per hour. Customers that arrive when all seats are taken do not enter the diner. The probability that there are no customers in the diner is?
For the binomial sample information summarized below, indicate whether the sample size is large enough to use the large sample approximation to construct a confidence interval for p.
State the quick rule for a significant correlation and explain its limitations. What sums are needed to calculate a correlation coefficient? What are the two ways of testing a correlation coefficient for significance?
assume that adults have iq scores that are normally distributed with a mean of 100 and a standard deviation of 15. find
A survey on the drinking habits of Americans estimated the percentage of adults across the country who drink beer, wine, or hard liquor at least occasionally. Of the 1516 adults interviewed, 985 said that they drank.
The mean income of a group of sample observations is $500; the standard deviation is $40. According to Chebyshev's theorem, at least what percent of the incomes will lie between $400 and $600?
A test of 45 capsules had a mean weight of 20.9 milligrams and a standard deviation of 0.3 milligrams. Test the makers claim at the 95% confidence level.
(a) Interpret the slope of the fitted regression Sales = 842 - 37.5 Price. (b) If Price = 20, what is the prediction for Sales? (c) Would the intercept be meaningful if this regression represents DVD sales at Blockbuster?
If in a random poll of 250 residents, 150 residents were in favor, how accurate is this result as an estimate of the proportion?
At some point too much stimulation will limit the ability to focus and pay attention. What would happen to the size and the sign of the correlation coefficient if we correlated these two variables?
X1, X2, X3, ... Xn are n independent, identically distributed random variables with expectation of 5 and variance of 4 (E[Xi] = 5, Var (Xi) = 4) and n is large. Determine Var(Y)?
Probability calculations reveal the following information. The probability of a favourable research report = 0.59. The probability of high sales given a favourable research report = 0.95. The probability of high sales given an unfavourable research r..
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