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Question: Five thousand lottery tickets are sold for $1 each. One ticket will win $1,000, two tickets will win $500 each, and ten tickets will win $100 each. Let X denote the net gain from the purchase of a randomly selected ticket.
a. Construct the probability distribution of X.
b. Compute the expected value E (X) of X. Interpret its meaning.
c. Compute the standard deviation σ of X.
The coach of a college men's basketball team records the resting heart rates of the 15 team members. We use these data to construct a confidence interval.
the weight of an organ in adult males has a bell shaped distribution with a mean of 310 grams and a standard deviation
Suppose that one is interested in constructing a 95% confidence interval that would estimate the mean weight of capsules to within 2 mg, and you suspect that a is no larger than 3 mg. How large a sample size is necessary?
in a binomial experiment the probability of success is 0.06. what is the probability of at most two successes in seven
Show the complete ANOVA table for this test including the test statistic. The null hypothesis is to be tested at 95% confidence. Determine the critical value for this test. What do you conclude?
The manager of an SAT review program wonders whether the ethnic background of a student and the program's instructor affect the student's performance.
It is important to conduct research on the culture of the country that an organization intends to enter. Understanding these areas allows an organization.
Construct a 99% confidence interval for the true average amount of time customers spent in the restaurant. With a .99 probability, how large of a sample would have to be taken to provide a margin of error of 2.5 minutes or less?
find the inverse cdf of given distributions using r1 logistic1022 pareto213 weibull234 gamma355 beta352 let the inverse
The average avoidable cost for a fringe firm is AAC(q) = 20/q + 5q. The marginal cost function for a fringe firm is MC = 10q. There are 10 fringe firms. The marginal cost of the dominant firm is 2 and the demand function is Q = 100 - P.
Let x be N(µ,σ2 ) and consider the transformation x=log(y) or equivalently y=exp(x). Find the mean and the variance of y by first determining E(exp(x)) and E[(exp(x)^2 ], by using the moment generating function of x.
Find the probability (type answer as an integer or simplified fraction) of a couple having a baby boy when their fifth child is born, given that the first four children were all boys.
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