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Two candidates A and B remain in the finale of a television game show. At this point, each candidate must spin a wheel of fortune. The 20 numbers 5, 10,..., 95, 100 are listed on the wheel and when the wheel has stopped spinning, a pointer randomly stops on one of the numbers. Each candidate has a choice of spinning the wheel one or two times, whereby a second spin must immediately follow the first. The goal is to reach a total closest to but not exceeding 100 points. The winner is the candidate who gets the highest score. Should there be a tie, then the candidate to spin the wheel first is the winner. The candidate who spins second has the advantage of knowing what the score of the first candidate was. Lots are drawn to determine which player begins. Suppose that candidate A has to spin first. His/her strategy is to stop after the first spin if this spin gives a score larger than a certain level L and otherwise to continue for a second spin. Use computer simulation to find the optimal value of the stopping level L and the maximal probability of candidate A winning.
identify a situation where the central limit theorem is useful and will give you a more accurate
Recall that "very satisfied" customers give the XYZ-Box video game system a rating that is at least 42. Suppose that the manufacturer of the XYZ-Box wishes to use the 65 satisfaction ratings to provide evidence supporting the claim that the mean c..
If researcher obtains sample mean of M = 88, which combination of factors is most likely to result in rejecting null hypothesis?
an ecologist wishes to mark off a circular sampling region having radius 10 meters. however the radius of the resulting
the probability that a small business will go bankrupt in its first year is 0.21. For 50 such small business, find the following probabilities by using either the binomial probability formula or by using the normal approximation.
Describe the one sample test of a mean when the variance is unknown and when the variance is known. Describe the use of a two-sample t test (common variance estimate).
You and 100 of your 200 respondents concerned about nutrition. Is this reason to believe that the percent in your area is higher than the national 40%?
ANLY 502 - Analytical Methods Midterm Exam. Your cell phone bill varies from month to month. What is the smallest amount you spent in a month
Choose a person aged 19 to 25 years at random and ask, "how many times have you worked out in the past?" Call the response X for short.
Assume that the salaries of male and female professors are both normally distributed with equal standard deviations.
Identify a business research topic and define the research questions for the identified problem or opportunity
Absenteeism. A company's records indicate that on any given day about 1% of their day-shift employees and 2% of the night-shift employees will miss work.
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