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Suppose that Total Revenue = 200Q and Total Cost = 80 + 50Q where Q, the quantity sold, is a random variable with expected value 20 and variance 4.
What is the expected value of total profit?
What is the standard deviation of total profit?
An independent financial advisor claims an average rate of return, μ, on a particular investment is at least 7%. In testing her claim, the correct pair of hypotheses is:
A random sample of 16 ages is drawn from the population, and we find the sample mean of these observations to be μ = 8.76. What is the value of the test statistic?
Is this enough evidence to support Union's position? Use significance level of a = 0.05. You may suppose the mean annual salaries are normally distributed.
At.05 significance level, is there a difference in mean number of calls per day between 2 employees? Compute the p -value?
Determine the probability in big class that both sections are covered? Only one section? Neither section? Determine the expected number of sections covered?
Determine marginal probability distributions of X and Y . Compute conditional probability P ( Y = 2 | X = 1)
If random sample of size n = 16 are selected, can we say anything about the xbar distribution of sample means?
How large a sample would be necessary to estimate the population proportion with a margin of error of 0.05 at 95% confidence?
Create network for aerospace launch project below and determine its critical path.
Test out an suitable hypothesis also state your conclusion. Make sure the suitable assumption as well as conditions are satisfied before you proceed.
Suppose that the distribution of weekly water usage for single-family homes in a particular city is mound shaped and approximately symmetric. The mean is 1400 gallons, and the standard deviation is 300 gallons.
Roll a die and record the count of spots on the up face: P(1) = 0, P(2) = 1/6, P(3) = 1/3, P(4) = 1/3, P(5) = 1/6, P(6) = 0.
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