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You work for a pharmaceutical firm planning to introduce a new over-the-counter drug on the market. In your analysis, you consider the possibility that one or both of two close competitors, companies A and B, will enter the market with similar drugs. You believe that there is about a 0.4 probability that company A will enter and a 0.3 probability that company B will release a product. You also believe that there is a 0.1 probability that both A and B will enter the market.
a) What is the probability that company A or B will enter the market?
b) Find the probability that company A will enter the market, given that company B enters the market.
c) Suppose you don't know the chance that companies A and B will enter the market but you do know that, if A enters, B will with probability 1/4. Find P(A or B) if possible.
a machine has 9 identical components that function independently. the probability that a component will fail is 0.2.
Use the sales forecaster's, predictions to describe a normal probability distribution that can be used to approximate the demand distribution.
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a normal distribution has a mean of 500 and a standard deviation of 50. a manager wants to simulate one value from this
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Uuse a level of significance of a =0.01 to test to see if you have sufficient evidence to support the claim that the defective rate exceeds 3%.
The city of Oakdale wishes to see if there is a linear relationship between the temperature and the amount of electricity used (in kilowatts). Based on the data in the table below, is there a significant linear relationship between temperature and th..
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