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A roulette wheel has 38 slots, of which 18 are black, 18 are red, and 2 are green. When the wheel is spun, the ball is equally likely to come to rest in any of the slots. One of the simplest wagers chooses red or black. A bet of $1 on red returns $2 if the ball lands in a red slot. Otherwise, the player loses his dollar. When gamblers bet on red or black, the two green slots belong to the house. Because the probability of winning $2 is 18/38, the mean payoff from a $1 bet is twice 18/38, or 94.7 cents.
What does the law of large numbers tell us about what will happen if a gambler makes very many bets on red?
A. If the gambler keeps on playing forever he must win.
B. In the long run, the gambler earns an average of 94.7 cents per bet.
C. The player should change his bet to black if he wishes to win in the long run.
Find the lowest possible score a candidate can score and still qualify. Assume the scores are normally distributed.
Using the telephone numbers listed in your local directory as your population, randomly obtain 20 samples of size 3. From each telephone number identified as a source, take the fourth, fifth, and sixth digits.
What values would be appropriate for the performance measures listed in the preceding problem for the case in which two tellers are available?
As part of a study of corporate employees, the Director of Human Resources for PNC, Inc. wants to compare the distance traveled to work by employees at their office in downtown Cincinnati with the distance for those in downtown Pittsburgh.
The sample yielded a mean content of 11.88 ounces, with a standard deviation of 0.24 ounces. Use a 0.05 level of significance and test to see if the machine is in perfect adjustment (perform all six steps of hypothesis testing, including p-values)..
Discuss how scale impacts the interpretation of a graph and name the lowest number of a statistically significant sample size and state the statistically appropriate percentage total of displays
Enter the data and use the appropriate commands to find the mean, median, mode, sample standard deviation, population standard deviation, 10% trimmed mean, and data count.
Suppose that the population of heights of male college students is approximately normally distributed with mean m of 69.09 inches and standard deviation s of 4.71 inches.
Provide an example of a situation in which factor analysis, cluster analysis, and multidimensional analysis might be used.
In ANOVA, which of the following is not affected by whether or not the population means are equal?
Calculate η 2 , the percentage of variance accounted for by treatment.
Determine the dependent variable(s)? Determine the value of the statistic? Write down the name of one variable not mentioned in this study that one might wish to control for.
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