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A contractor is considering a sale that promises a profit of $32,000 with a probability of 0.7 or a loss (due to bad weather, strikes, and such) of $9000 with a probability of 0.3. What is the expected profit?
The area under a normal curve is always equal to 1, no matter what the mean and standard deviation are.
A company that produces an expensive stereo component is considering offering a warranty on the component. Suppose the population of lifetimes of the components is a normal distribution with mean of 84 months and standard deviation of 10 months.
The kinds of statistical methods that were used to formulate the author's argument.
The mean of a normal probability distribution is 60; the standard deviation is 5.
Using variables below, (1) mention all research questions that would be replied with a Two Way ANOVA test, (2) make null hypotheses for these questions.
Calculate the p- value and use it to test H0 versus H a at each of a .10, .05, .01, and .001. d How much evidence is there that the mean composite satisfaction rating exceeds 42?
If the standard deviation is $89.46, find the probability that a randomly selected customer spends between $550.67 and $836.94.
Selection of a location for a prospective Wal-Mart creates many questions for executives. A suitable site would be one that has an adequate demand for Wal-Mart offerings, sufficient transportation resources, and an available labor force.
A statistics profressor plans classes so carefully that the lengths of her classes are uniformly distributed between 50.0 and 60.0 minutes. Find the probability that a given class period runs great than 50.5 minutes.
A researcher hypothesizes that the variation in the amount of money spent on business dinners is greater than the variation of the amount of money spent on lunches. The variance of nine business dinners was $6.12 and the variance of 12 business l..
Can we conclude that car size is dependent on marital status? YES or NO (circle one)
One of 4 bus drivers is also arbitarily selected. Let Y denote number of students on his bus. Caculate expectations of X and Y: E(X)=?
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