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You are the owner of a small casino in Las Vegas. You want to reward high rollers who come to your casino. You want to give free accomodations to no more than 10% of your patrons. Suppose that the mean amount wagered by all patrons is $287 with a standard deviation of $15. You should give free accomodations to those individuals who wager over how much money?
Identify each of the random variables as continuous or discrete.
How many participants need to be enrolled in each group to have 90% chance of detecting a significant difference using a two-sided test with a a= .05 if compliance is perfect?
Calculate the correlation coefficient. What is the coefficient of determination from these sample statistics? What does this coefficient indicate?
Then describe trade-offs which will happen when you lower sample to $10,000 to meet their budget.
A Manager needs to decide between two machines to put into market following a Weibull distribution. Machine X test unit cost $3000 with beta=3 and theta=500 Machine Y test unit cost $2000 with beta=3 and theta=400
Find a 99% confidence interval for the mean pH in rainfall and interpret the interval and what assumption must be made for the confidence interval to be valid?
Calculate the mean and the standard error of the sampling distribution of the sample means. Also, find the mean and standard error of the sampling distribution for samples of size 5.
To determine whether there exists mean difference among the groups:
Calculate the suitable mean response time from both proposed locations and find out which proposed site must be selected for the new emergency facility.
Suppose that data is recorded for equal period of "before"-"after" time. Use 1% level for risk. Given processed data, explain what John must do.
Calculate the probability that a hand of 13 cards dealt from a normal pack of 52 contains exactly two kings and one ace. what is the probability that it contains exactly one ace given that it contains exactly two kings.
You are considering adding a new food product to your store for resale. Explain how many units of the new product should be purchased for resale.
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