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An oil company determines it costs $25,000 to sink a test well, an oil hit yields a net revenue of $475,000($500,000 gross-$25,000costs), and a natural gas hit yields $125,000 net revenue ($150,000 gross-$25,000 costs). If the probability of hitting oil is 3% and gas is 6%, what is the expected value of sinking a test well?
When comparing the mean annual incomes for executives with a High School education or less and Undergraduate Degree, the 95% confidence interval shows an interval of 11.7 to 42.7 for the difference. This result indicates that
use the given information to find the minimum sample size required to estimate an unknown population mean. how many
Explain the least squares method and least squares regression line. Why are they called by these names?
the common stock of flavorful teas has an expected return of 19.65 percent. the return on the market is 14.5 percent
a) Write the data provided in probability form and write the complements.
What conditions (if any) on the probabilities and the branches will get the third and fourth moments of one step to agree with those of Brownian motion across the same time step?
Create a probability model for the amount you win at this game.- Find the expected amount you'll win.- How much would you be willing to pay to play this game?
1. A fair coin is tossed 10 times. Let X denote the number of heads obtained. Find the following. 2. Let X be a Poisson random variable with λ = 1/3. Find
epa studies of fuel consumption indicate compact car mileage to be normally distributed with a mean of 25.5 miles per
Verify the given sums Sx, Sy, Sx2, Sy2, Sxy and the value of the sample correlation coefficient r. (Round your value for r to three decimal places.)
One year ago, you purchased 300 shares of IXC stock at a price of $22.05 per share, received $460 in dividends over the year, and today
Examine the following data: Calculate the 20th and the 30th percentiles.
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