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1. Suppose that we will receive $25 if we get two consecutive heads (H) on two ?ips of a balanced coin. If only one head appears, we will get $10. On the other hand, if there is no heads, we will lose $15. If monetary return is the only concern, should we play this game? Why?
2. In the previous problem, suppose we suspect the coin is not balanced. We feel that P(H) is only 0.4. In our last 10 observations, we counted three heads and seven tails. Should we play the game? Defend your answer.
steve and his friends are relaxing at a local tavern. the number of drinks that steves table receives is poisson
Create a Histogram of the following data:
1.a simple random sample of 1000 americans found that 61 were satisfied with the service provided by the dealer from
Sample mean is 50, t-statistic is 1.96, and standard error of sample mean is 2. Determine the 95 percent confidence interval?
A study of 20 families in a certain large city showed that the average income was $33,210 in 2000 with a standard deviation of $1800. Test the hypothesis that the true average income in this city was actually $31,000 against the hypothesis that it..
The Republican party is interested in studying the number of Republicans that might vote in a particular Congressional district. Assume that the number of voters is binomially distributed by party affiliation (either Republican or not Republican).
A sample of 25 students enrolled in the university indicates that X (bar) = $315.4 and s = $43.20.
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Given an infinite population with a mean of 75 and a standard deviation of 12, the probability that the mean of a sample of 36 observations, taken at random from this population
Assuming that the goal of 4% undersized tomatoes is reached, what is the probability of getting no more than 1 undersized tomato in a randomly selected sample of 20 tomatoes?
As an experiment, a self-confessed connoisseur of cheap popcorn carefully counted 773 kernels and put them in a popper. After popping, the unpopped kernels were counted. There were 86. a)Construct a 90% confidence interval for the proportion of all k..
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