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In a certain city the daily consumption of electric power can be treated as a random variable having a gamma distribution with alpha equals 3 and beta equals 2. if the power plant of this city has a daily capacity of 12 million kilowatt hours what is the probability that this power supply will be inadequate on any given day.
A consumer is contemplating the purchase of a new compact disc player. A consumer magazine reports data on the major brands. Brand A has lifetime (TA) which is exponentially distributed with m=.02; and Brand B has lifetime
A standard IQ test has mean of 98 and a standard deviation of 16. We want to be 99% certain that we are 8 IQ points of the true mean. Determine the sample size.
Testing for Population mean - Can the difference in average educational level between the sample and the nation be explained by chance variation?
If you assume returns follow a normal distribution, which investment would give a better chance of getting at least a $40 million return? Explain. (B) How could your answer to part (A) change if you knew returns followed a skewed distribution inst..
The local municipality claims that since the percentage of intersections that had an accident last year decreased from the prior year, the city is now safer. What are the hypotheses for this situation? Is the city really safer?
A well-established power-drink dispensing machine is programmed to dispense an average of 2.02 liters into a container labled"2 liters". Actual quantities are known to be normally distributed with a standard deviation of 0.015 liters. What is the ..
With more then a million teachers set to retire we are seeing a record number of turnovers in the teaching profession.
A survey of 100 clients of pacific gas and electric resulted in the following frequency distribution of monthly charges.
One definition of a low-mileage car is one that is 4 years old and has been driven less than 45,000 miles. What percent of the cars returned are considered low-mileage?
A car dealership is worried that Hondas are getting lower sales than Hyundai. Two independent random samples have been selected 630 observations from population 1 (Hondas) and 610 from population 2 (Hyundai).
Misery loves company. It is time for the PE (professional engineer's exam). The results of the national test were normally distributed around the mean score of 70.
What is the age distribution of adult shoplifters (21 years of age or older) in supermarkets? The following is based on information taken from the National Retail Federation.
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