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Your friend wishes to make a bet with you that his favorite sports team will win their next game. to entice you into making the bet, he offers you 5 to 1 odds; i.e. if he wins, you pay him the amount wagered; but if you win he pays you 5 times the amount wagered. Supposed that you believe that the probability that his team wins is 80%. If your judgement is accurate, who does expected value of the result favor, you or your friend?
1. a noted psychic was tested for esp. the psychic was presented with 200 cards face down and was asked to determine if
the probability that a college student is in the normal weight range for hisher height is 0.86. if 20 students are
Find the probability that the amount of total claims over a period of 100 days is at least $150,000. (Use the fact that the sum of independent normally distributed random variables is normally distributed, with mean equal to the sum of the individ..
Class where the mean is 85 and the standard deviation is 4.59, who did better relative to their class? Note both did better than the class mean. How do you answer this question?
If a vending machine will only accept coins weighing between 5.48g and 5.82g, what percentage of legal quarters will be rejected?
a random sample of size 10 is chosen from a population of 100 without replacement if a and b are two indiviuals among
suppose your instructor randomly surveyed his or her performance i.e. students graded the teacher this semester. the
The Appliance Centre sells a variety of electronic equipment and home appliances. For the last four years the following quarterly sales (in $ millions) were reported.
question consider the following record of sales for a product for the last 100 days. sales unitsnumber of days
Suppose that the number of babies born during an hour at a hospital's maternity wing follows a Poisson distribution with a mean of 4 per hour.
It is believed that population standard deviation is 15 days. If test is conducted using a 0.05 level of significance, what conclusion must be reached?
Assume that sigma = 60, choose an alpha level, and perform a hypothesis test to determine whether this is good evidence to conclude that the mean score for all young men is less than 275.
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