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In a state's Pick 3 lottery game, you pay $1.28 to select the sequence of three digits, such as 222. If you select the same sequence of three digits that are drawn, you win and collect $420.17. Complete parts A-E.
a) How many different selections are possible?b) What is the probability of winning? _____ (Enter integer or decimal)c) If you win, what is your net profit? (Enter integer or decimal)d) Find the expected value. _____ (Round to the nearest hundredth as needed)e) If you bet $1.28 in a certain state's Pick 4 game, the expected value is $0.86. Which bet is better, a $1.28 bet in the
Pick 3 game or a $1.28 bet in the Pick 4 game? Explain.
a. Neither bet is better because both games have the same expected valueb. The Pick 3 game is a better bet because it has a larger expected valuec. The Pick 4 game is a better bet because it has a larger expected value
Population standard deviation of 150. If you take a random sample of n = 8 students, what is the probability that the sample mean will be more than 760?
The probability distribution of the daily demand for a product is shown below. What is the expected number of units demanded per day? Determine the variance and the standard deviation.
Is the GPA of this year's students significantly different from the long-run average? At what alpha level would it be significant?
Describe a scenario related to the final project in which you would use repeated-measures ANOVA. Describe a scenario related to the final project in which you would use MANOVA.
In a two-way ANOVA, there are 4 levels for factor A, 5 levels for factor B, and 3 observations for each combination of factor A and factor B levels. The number of treatments in this experiment equals:
What is the maximum water producing capacity that the station should keep on line for this hour so that the demand will have a probability of only 0.01 of exceeding this production capacity?
A customer from Cavallaro's Fruit Stand picks a sample of 5 oranges at random from a crate containing 80 oranges, of which 6 are rotten. What is the probability that the sample contains 1 or more rotten oranges? (Round your answer to three decimal..
Which of the variables below do you think will be roughly normally distributed? Please select all that apply.
Women in the U.S. Air Force have hands that are 6.9 inches on the average (from the tip of the middle finger to the heel of the hand). The standard deviation is 0.34 inches. Assume that hand length is normally distributed.
The relationship between energy consumption and average car gas mileage, controlling for GDP.
You are trying to set up a portfolio that consists of a corporate bond fund and a common stock fund. the following information about the annual return (per $1,000)of each of these investments under different economic condition is available
1.a study to compare two types of infant formula was run at two sites one in atlanta and the second in denver. the
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