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A public relations intern realizes that she forgot to assemble the consumer panel her boss asked her to do. She panics and decides to randomly ask (independent) people if they will work on the panel for an hour. Since she is willing to pay them for their work, she believes she will have a 75% chance of people agreeing to work with her. Let Y be the number of people she needs to ask until she nds 5 people for her panel.
a) What are the distribution and parameters of Y ?
b) How many people should she expect to ask to ll her panel?
c) What is the probability she needs to ask 8 people before she nds 5 to ll her panel?
d) What is the probability she needs to ask no more than 7 people before she lls her panel?
Assume that JVC is trying to decide how to rate a new stereo system composed of a receiver, CD player, & speakers. The firm's economists have estimated that 2-different groups will buy these products
According to a survey, only 15% of customers who visited the web site of a major retail store made a purchase. Random samples of size 50 are selected.Referring to the information, the average of all the sample proportions of customers who will mak..
Critical Thinking: Suppose you and a friend each take different random samples of data pairs (x,y) from the sample population. Assume the samples are the same size.
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.
In an enterprise the unit cost of the product is 200 dollars in 2000, 160 dollars in 2005, please calculate the average annual decline rate of unit cost during the period from 2000 to 2005. If in 2010 the unit cost of the product down to 112 dolla..
A recent study by Ohio State University (March 5, 2008) suggests that students with cell phones may take more risks than students that do not have cell phones.
In order to answer the following questions, first draw a density curve describing this distribution. Pay attention to the height of the curve!
A jar contains four white marbles, five red marbles, and six black marbles. If a marble were selected at random, what is the probability that it is white or black?
Advanced Micro Devices declared a 10 percent price raise for certain advanced microprocessors, used primarily in video games. The processors will sell for about $1,000 compared to Intel's $950 price.
A supplier and a buyer, who are both risk neutral, play the following game, The buyer’s payoff is q^'-s^', and the supplier’s payoff is s^'-C(q^'), where C() is a strictly convex cost function with C(0)=C’(0)=0. These payoffs are commonly known.
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.
For the time-frame of this study, once a market has reached a higher category, it won't fall back to a lower category. What is the probability that Logistics will stop providing service to an Intermediate market before becoming a High market?
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