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Suppose Y is the daily revenue for some company, where E(Y) = $10,000 and Var(Y) =540,000 and = $734.85
If a customer has not had an accidnet during the last year, there is only a 3% chance that he or she will have an accident during the current year. During a given year, what is the average premium p
What is the expected number of machines failures during the prodution run?
When we look at the null hypothesis and the alternative hypothesis represent two contradictory statements. They are said to be mutually exclusive; they can't both be true.
Suppose that X1, X2, X3, X4, and X5 is a random sample from a distribution with density function f(x)=1/theta for 0<x<theta. The null hypothesis theta=1 is to be tested against the alternative
Construct a 95% confidence interval estimate of the mean speed. Assume the distribution is normal.
The average years of education for the sample from City B is 14 years with a standard deviation of 2.5 years. Is there a statistically significant difference between the education levels of police o
Chocolate-coated Sugar Fun Blast cereal is filled in boxes by weight. The weight of the boxes is approximately normally distributed with a mean of 16 ounces and a standard deviation of 0.2 ounces.
The probability that at least 10 of the 12 people selected have brown eyes is ____. (Round to three decimal places as needed.)
An urn contains 6 green and 4 gold balls. One ball is drawn and replaced before the second ball is drawn. Find the probability the first is green and the second is gold.
A pharmaceutical company receives large shipments of aspirin tablets. The acceptance sampling plan is to randomly select and test 17 tablets, then accepts the whole batch if there is only one or non
Art students are registered for the same class and attend independently of each other.
An airline is interested in determining the proportion of its customers who are flying for reasons of business. If the airline wants to be 90% confident that its estimate will be correct to within 2
A refrigerated delivery truck has a load of perishable goods worth $10,000. If the refrigeration unit is not cold enough, the food may spoil. The cost of the spoiled food will evenly vary from no c
You want to know if there's an association between college students' spring break destinations and what year they're in. You take a random sample of 405 college students and record the following dat
At a track and field tournament, Fred's long jumps vary evenly from 6.5 to 7.2 meters. Let X be the length of Fred's long jumps. a) Name the distribution and parameter(s) of X.
Compute the mean of sample proportion of smokers. Compute the probability that the sample proportion of smokers is less than 50%. Find the answer closest to 3 decimal places.
The lifetime in hours of a certain kind of radio tube is a random variable with the probability density function given by
Compute the probability that the sample proportion of smokers is less than 50%. Find the answer closest to 3 decimal places. Compute the probability that the sample proportion of smokers is greater th
Calculate the sample covariance between two variables X and Y, using the formulas described in lecture or text. Treat the columns below as expressing data pairs, such that the first value i
Wilmer thinks that NBA players, in general, are taller than high school basketball players. He has measured 5 NBA players, with heights 80, 84, 73, 75, and 77 inches. He has measured 5 high school b
What is the probability that we will pick a blue ball? If we picked a blue ball, what is the probability that the selected urn was urn-1?
Find the optimal crude oil allocation for the following example if the profit associated with square foot of fiber is cut to $0.375, while the profit associated with per gallon of gasoline stayed at
What is the probability that in a 10 minutes period more calls will arrive than the system can handle? Based on this probability, comment on the adequacy of the new answering system.
It is your birthday and you are waiting for someone to write you a birthday message on Facebook. On average (on your birthday) you receive a facebook message every 10 minutes. Assume that the times