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Suppose you conduct a study and find that the probability of having a baby boy is 60%. Now suppose three of your relatives are going to have babies.
a) Build a tree diagram showing all the conditional probabilities and joint probabilities associated with the sex of the three new babies.
b) What rule of probability are you using to obtain the joint probabilities and why? In order to answer the 'why' part of the question you must tell me why the rule of probability you chose to use applies in this case.
c) What is the probability of having one boy and two girls in the three births?
Each day the major stock markets have a group of leading gainers in price (stocks that go up the most). On one day the standard deviation in the percent change for a sample of 10 NASDAQ leading gainers was 15.8.
One prominent physician claims that 70% of chose with lung cancer are heavy smokers. If his assertion is correct. find the probability that more than half are heavy smokers.
Paul has calculated the indifference probability for the lottery having a payoff of $160K with probability p and -$80K with probability (1-p) as follows:
A standard slot machine has three reels. The first reel has 3 walnuts, 7 cherries, 3 oranges, 5 lemons, 1 bell, and 1 jackpot bar. The second reel has 7 cherries, 6 oranges, 1 lemon, 3 bells, and 3 bars. The third reel has 4 walnuts, 7 oranges, 5 ..
What is the coefficient of determination, and wat is its meaning?
Write a brief statement of purpose of the study. Define the population. State the hypotheses for the study. Select an a value
The following table is from the Social Security Actuarial Tables. For each age, it gives the probability of death within one year, the number of living out of an original 100,000 and the additional life expectancy for a person of that age.
Randomly selected statistics students were given five seconds to estimate the value of a product of numbers with a summary of the results of both groups given below.
A decision maker is working on a problem that requires her to study the uncertainty surrounding the payoff of an investment. There are three possible levels of payoff -$1,000, $5,000, and $10,000.
In the data collected for construction of c chart, the average number of defects per unit of output is c = 7.5. Discuss the 3-sigma upper and lower control limits for the control chart?
To find out whether two categorical variables are independent, one should use the.
Suppose the salary of assembly line workers has Normal distribution with mean of $20,000, and standard deviation of $3,000.
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