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A game consists of drawing tickets with numbers on them from a box, independently with replacement. In order to play you have to stake $2 each time you draw a ticket, your net gain is the number on the ticket you draw, suppose there are 4 tickets in the box with numbers -2, - 0, 3 on them. If, for example the ticket show $3 then you get your stake back, plus an additional $3.
a) Let X stand for your net gain in one game. What is the distribution of X? Find E(X) and Vαr(X).
b) If you play 100 times, what is your chance of winning $25 of more?
There are seven cards with digits 0,1, 2, 3, 4, 5, and 6. A child takes four of the cards and places them in some order. What is the probability that he obtains a four-digit number less than 3265?
What is the standard deviation of the sampling distribution of p(hat) the proportion of all rolls of the die that show a 1 or a 2? 3.) describe the shape of the sampling distribution of p(hat).
Assume σ = 3.45. Is there any evidence to suggest that the manufacturer's claim is false? Use a 5 0.01 and compute the p value to draw a conclusion.
You feel that a reasonable estimate of the standard deviation is 6.5 hours. What sample size is needed so that the margin of error of your estimate is not larger than 1 hour for 95% confidence?
What is the standard deviation of the probability distribution (round to three decimal places)?
What do you think Richter's Abstract Painting says about the art form of painting during the twentieth century-well after the traditions of Renaissance
Estimating the combined mean values for the given data - find the mean for the combined sample
What is the probability that the sample proportion is less than 0.5? What is the upper limit of the sample proportion such that only 3%of the time the sample proportion would exceed this value
There is only one copying machine in the student lounge of the business school. Students arrive at the rate of ?=45 per hour?
Give the interval of values that is likely to cover the true proportion of the population who would answer, "Yes, will be a time."
Indicate which of the given situations involve descriptive statistics and which involve inferential statistics:- An annual stockholders' report details the assets of the corporation.
Generate a 95% confidence interval for the difference in proportions of patients with hypertension between groups. Experimental (n=100) =14%
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