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A real estate salesperson has three properties listed for $40,000, $100,000 and $80,000. He thinks that the probability of selling the first listing in November is 1/2. The probabilities of selling the other two listings in November are 1/4 and 3/4 respectively. Determine the probability mass function of the salesperson's November sales (in $). What is the probability that his sales for November will be less than $100,000? Find the mean, variance, and standard deviation of the November sales.
Your customers have been divided into 3 groups. The first group represents 15% of customers, and these customers spent an average of $29.76 last year.
Two teams of workers assemble automobile engines at a manufacturing plant. Quality control personnel inspect a random sample of the teams assemblies and judge each assembly to be acceptable or unacceptable.
Make a histogram for the r probability distribution.
Research the topic of Job Satisfaction using the Business Source Premier Database (EBSCO) and/or the ABI Inform Global database from the Internet.
Develop the opportunitiy loss table and compute the expected opportunity loss for each product. Determine how much the firm would be willing to pay to a market research firm to gain better information about future market conditions.
The university police department must write, on average, five tickets per day to keep department revenues at budgeted levels. Suppose the number of tickets written per day follows Poisson distribution with a mean of 9 tickets per day.
Either direction from what would have been obtained by interviewing all voters in the United States. Find the sample size suggested by this statement.
Find the point estimate p-hat and the margin of error for the confidence interval (0.444, 0.484)
Explain the conclusion that there were no statistically significant differences (p ≥ 0.05) between the benefits of behavioral therapy and psychoanalysis when treating an eating disorder.
Is there evidence of a difference in the median performance between the two methods? (Use x = 0. 05).
A small independent stock broker has created four sector portfolios for her clients. Each portfolio always has five stocks that may change from year to year The volatility (coefficient of variation) of each stock is recorded for each year.
Aa mean of 72 mph and a standard deviation of 3 mph. Find the interval that contains the sppeds of 95% of vehicles traveling on this section of i-95.
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