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An insurance company will pay Dave $220,000 (the market value of the house) should his house be destroyed by fire during the year. In return, Dave pays the insurance company $1280 that year (called the "premium") for that protection. Suppose the probability that Dave's house is destroyed by fire that year is 0.003. What is the expected net value of the insurance policy to Dave?
1. estimation of mean monthly rentalsa suppose we consider the following data on monthly rentals 980 1230 1320 1440
One of the authors of this book (one male, one female) has a right handspan measurement of 23.5 cm. Would you consider this value to be an outlier? What additional information do you need to make a decision?
What is the overall shape of this distribution? What does this shape say about word lengths in Shakespeare?
Using the 1% significance level, test the null hypothesis that the proportions of all allergic persons are equally distributed over the four seasons.
Estimate the relative risk of neurological impairment for children exposed to secondary smoking, and calculate a 95% con?dence interval for this risk.
The cost of 5 gallons of ice cream has a variance if 49 with a mean of 30dollars. What is the probability that the sample would differ from the true mean by less than 0.6 dollars if the sample of 145 5 gallon pails is randomly selected.
According to HowtoAdvice.com, the average price charged to a customer to have a 12 by 18 wall-to-wall carpet shampoo cleaned is about $50.
According to the article "Effect of Preparation Methods on Total Fat Content, Moisture Content, and Sensory Characteristics of Breaded Chicken Nuggets
in a similar study using a sample of n36 participants the individuals who wore the shirt produced an average estimate
Suppose that a machine produces a defective item with probability p and produces a non-defective item with probability 1 - p.
the corporate lawyer a magazine for corporate lawyers would like to report the mean amount earned by lawyers in their
a) Are you likely to be able to pass by guessing on every question? Explain.
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