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In a certain town, 38.2% of the voters are Democrats and 61.8% of the voters are Republicans. In the last election 44.6% of the Democrats, and 45.9% of the Republicans voted.
a) If a citizen who voted in the last election is randomly selected, what is the probability that they are a Democrat?
b) If a citizen who is a Republican is randomly selected, what is the probability that they voted in the last election?
A hat contains three coins - one gold, one silver and one copper. You will select coins one at a time without replacement until you choose the gold coin. The outcome of interest is the sequence of coins that are selected during this process.
The quarterly returns for a group of 69 mutual funds with a mean of 2.3% and a standard deviation of 5.9% can be modeled by a normal model. Based on the model N(0.023, 0.059), what are the cut off values for the:
he two leading United State manufacturers of high performance radial tires must set their advertising strategies for coming year. Each company has two strategies available:
Assume two competitors every face important strategic decisions where payoff to each decision depends upon reactions of the competitor. Company A can select either row in the payoff matrix defined below,
Following is a payoff matrix for Intel and AMD. In each cell, 1st number refers to AMD's profit, while second is Intel's.
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.
The national average for a new car loan is 8.28%. If the rates are normally distributed with a standard deviation of 3.5%, find the probability one can receive a rate less than 9%
Assuming the life length of batteries is normally distributed, what is the p-value associated with this test? Place your answer, rounded to 3 decimal places in the blank. For example, 0.0234 would be a legitimate entry.
Carleton Chemical claims that they can produce more than 800 tons of meladone on average per week. A random sample of 36 weeks of production yields the following results.
A random sample of 100 computers showed a mean of 115 gigabytes used with a standard deviation of 20 gigabytes. What is the standard error of the mean.
Suppose you are planning entering a market serviced through a monopolist. You currently receive $0 economic profits, while monopolist receives $5.
In a one shot game, if you promote and your rival promotes, you will earn $7 million and your rival will earn $2 million in profits.
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