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Q1. A company markets educational software products, and is ready to place three new products on the market. Past experience has shown that for this particular software, the chance of "success" is 80%. Assume that the probability of success is independent for each product. What is the probability that exactly 1 of the 3 products is successful? a) 0.80 b) 0.032 c) 0.24 d) 0.096
Q2. Assume that it takes a college student an average of 5 minutes to find a parking spot in the main parking lot. Assume also that this time is normally distributed with a standard deviation of 2 minutes. What time is exceeded by approximately 75% of the college students when trying to find a parking spot in the main parking lot? a) 3.5 minutes b) 5.75 minutes c) 6.36 minutes d) 9.2 minutes
Q3. The __________ is the expected value of the regret for each decision. a) expected value b) expected opportunity loss c) expected value of perfect information d) none of the above
Q4. In the Monte Carlo process, values for a random variable are generated by __________ a probability distribution. a) sampling from b) running c) integrating d) implementing
Q5. Developing the cumulative probability distribution helps to determine a) simulation numbers b) data sets c) random number ranges d) all of the above
MATH1550H: Assignment: Question: A word is selected at random from the following poem of Persian poet and mathematician Omar Khayyam (1048-1131), translated by English poet Edward Fitzgerald (1808-1883). Find the expected value of the length of th..
MATH1550H: Assignment: Question: what is the least number of applicants that should be interviewed so as to have at least 50% chance of finding one such secretary?
MATH1550H: Assignment: Question: Experience shows that X, the number of customers entering a post office during any period of time t, is a random variable the probability mass function of which is of the form
MATH1550H: Assignment:Questions: (Genetics) What is the probability that at most two of the offspring are aa?
MATH1550H: Assignment: Questions: Let’s assume the department of Mathematics of Trent University has 11 faculty members. For i = 0; 1; 2; 3; find pi, the probability that i of them were born on Canada Day using the binomial distributions.
Caselet on McDonald’s vs. Burger King - Waiting time
Generate descriptive statistics. Create a stem-and-leaf plot of the data and box plot of the data.
Problems on Sampling Variability and Standard Error and Confidence Intervals
Estimate the population mean
Conduct a marketing experiment in which students are to taste one of two different brands of soft drink
Find out the probability
LINEAR PROGRAMMING MODELS
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