Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Probability: Expected Value
Problem 1: An insurance company estimates the probability of an earthquake in the next year to be 0.0013. The average damage did by an earthquake it estimates to be $60,000. If the company offers earthquake insurance for $100, what is the insurance companies' expected value of the policy?
Problem 2: In a gambling game a person is paid $9 if they draw a jack or a Queen and $18 if they draw a King or an Ace from an ordinary deck of 52 playing cards. If they draw any other card, they lose. How much should they pay to play if the game is to be fair (i.e., expected value is zero)?
Which trend model is best, and why? If none is satisfactory, explain. Make a forecast for 2004 by using a trend model of your choice or a judgment forecast.
suppose that a group of 100 consumers are asked to rate how much they liked the taste of a new soft drink on a 5-point
A researcher is evaluating the influence of a treatment using a sample selected from a normally distributed population with a mean of µ = 80 and a standard deviation of σ = 20. The researcher expects a 12 point treatment effect and plans to use a ..
The maturity scores tend to be skewed (not normally distributed). Higher scores indicate higher Christian maturity. What statistical test should be used to analyze these data?
At the 5 percent level of significance, can we conclude that the mean weight is greater than 16 ounces? Determine the p- value.
Computing the mean and standard errors of sampling distribution - Using the central limit theorem, find the means and standard errors of sampling distributions
A store selling newspapers orders only x=4 of a certain newspaper because the manager does not get many calls for that publication. If the number of requests per day follows a Poisson distribution with mean 3.
a fisherman decides to cast until he has caught a single fish. if the stream is so well stocked that on average a
a researcher wished to compare the effect of two stepping heights low and high on heart rate in a step-aerobics
Can students save money by buying their textbooks at Amazon.com? To investigate this possibility, a random sample of 15 textbooks used during the Spring 2007 semester at Iowa State was selected.
Find the standard error of mean. Also establish an interval estimate around the sample mean using one standard deviation of the mean.
Describe the error in the conclusion. Given: There is a linear correlation between the number of cigarettes smoked and the pulse rate. As the number of cigarettes increases the pulse rate increases. Conclusion: Cigarettes cause the pulse rate to i..
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd