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You randomly call friends who could be potential partners for a dance. You think that they all respond to your requests independently of each other, and you estimate that each one s 7% likely to accept your request. Let X denote the number of calls to successfully get a date.
a) What are the distribution and parameters of X?
b) How many calls do you expect to make to get a date?
c) What is the probability you get a date on the 12th call?
d) What is the probability it takes you at least 10 calls to get a date?
e) What is the probability it takes you no more than 15 calls to get a date?
f) Given you've already called 8 people and still do not have a date, what is the probability it will take less than 14 calls?
There is 0.02% probability that a credit card holder of a company reports the loss or theft of the credit card each month. The company has 15,000 credit cards in Memphis. Use the Poisson distribution to answer the following questions.
For a class activity, your group has been assigned the task of generating a quiz question that requires use of formula for conditional probability to compute P(B/A).
In order to answer the following questions, first draw a density curve describing this distribution. Pay attention to the height of the curve!
What is the probability that an executive who speaks a foreign language has not traveled internationally?
What is the mean of the sampling distribution of the difference between means?
Suppose you and your classmate are assigned a project on which you will earn one combined grade. You each wish to receive a good grade, but you also want to avoid hard work.
Suppose that you do a test for H0: μ = 6 against HA: μ &neq; 6 you obtain a sample mean of 6.5 and the test gives you a a p-value of 6%. We want to connect the p-value to the confidence interval for the mean.
Use the given payoff matrix for a simultaneous move one shot game to answer the accompanying questions.
Question: If you were to roll a single die 10 times, the result of each roll would be __________ A) Mutually exclusive of the other nine rolls B) Proportional to the other nine rolls
A worker faces a review every year. He prefers to spend time making if he will be reviewed; otherwise he would prefer to use time somewhere else.
Is the income elasticity of demand for real cash balances significantly different from one?
Little Kona is a small coffee corporation that is planning entering a market dominated through Big Brew. Each corporation's profit depends on whether Little Kona enters and whether Big Brew sets a high price or a low price.
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