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Suppose that a pair of 14-sided dice are rolled (the sides are numbered 1-14 and yes, these do actually exist).
a) What is the probability that the sum of the dice is 17?
b) What is the probability that the sum of the dice is at least 24?
c) What is the probability that the sum is odd given that exactly one of the dice is even?
d) What is the probability that the sum is 11 given that neither of the dice is a 5?
e) What is the probability that the sum is 12 or exactly one of the dice is a 8 (or both)?
If the lab technician takes 16 measurements and the variance of the measurements in the sample is 2.2, does this provide enough evidence to reject the claim that the lab technician's accuracy is within the target accuracy?
Figure 10-13 demonstrate the payoff matrix for the only 2-auto dealerships in a community, Jim's Autos and Tim's Autos. The matrix demonstrate the profits that each company would earn from selecting either a low price or a high 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.
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..
Determine the solution to the given advertising decision game between Coke and Pepsi, assuming the companies act independently.
Consider the following data for a simultaneous move ggiven: If you advertise and your rival advertises, you will each earn 5 million dollar in profits.
Find 95% confidence intervals for the proportion of Tyson packages with contamination and the proportion of Perdue packages with contamination (use 3 decimal places in your answers).
A light-bulb manufacturer advertises that the average life for its light bulbs 900 hours. A random sample of 10 of its light bulbs resulted in the following lives in hours. At the 10% significance level, do the data provide evidence that the mean ..
A dentist sees about fifteen new patients per month (the rest of her patients are repeats). She knows that on average, over the past year, about half of her patients have needed at least one filling on their first visit.
You have observed the following returns over time. Suppose that the risk free rate is 6 percent and the market risk premium is 5 percent.
Player 1 has the following set of strategies {A1;A2;A3;A4}; player 2’s set of strategies are {B1;B2;B3;B4}. Use the best-response approach to find all Nash equilibria.
An instructor claims the average time to take a statistics test is more than 39 minutes. If a sample of 33 students took 43 minutes, is the instructor's claim true? Test at the 0.05 level.
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