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It is known that 35% of all students in a college are football fans. A sample of 12 students is selected at random. Find the probability that not one of these 12 students is a football fan.
An investor is considering purchasing a small business. He knows that in case of a good market the business will yield $95,000 of profit; in case of a poor market there will be a loss of $15,000. It
What percent of years does this portfolio lose money, i.e. have a return less than 0%? What is the cutoff for the highest 15% of annual returns with this portfolio?
The proportion of public accountants who have changed companies within the last three years is to be estimated within 4%. The 90% level of confidence is to be used. A study conducted several years a
The expected project completion time for the construction of a pleasure yatch is 21 months and the project variance is 6. What is the probability that the project will
There are 20,000 eligible voters in York County, South Carolina. A random sample of 500 York County voters revealed 350 plan to vote to return Louella Miller to the state senate. Construct a 99% con
The estimate of the population proportion is to be within plus or minus 0.02, with a 90% level of confidence. The best estimate of the population proportion is 0.18. How large a sample is required?
A new analytical method to detect pollutants in water is being tested. This new method of chemical analysis is important because, if adopted, it could be used to detect three different contaminates
Find the probability distribution for X and display it in a table. Find the mean and the variance of the probability distribution for X. What is the probability that the system fails?
What is the probability that a product attains a good review? If a new design attains a good review, what is the probability that it will be a highly successful product? If a product does not attain a
A system consists of 4 identical components, where at least 3 components need to work for the system to work. Each component has an equally likely chance of failing or working. Let X be the number o
When a pair of dice are thrown, we are customarily interested in the total number of dots T. Calculate:
Is it possible to calculate distribution-free confidence intervals based upon the Wilcoxon two-sample test? If so, what do they mean?
Past experience shows that over time the rivets in bridge supports can become dangerously loose. Assume that X, the number of loose rivets found per 10 feet beam on bridges over 20 years old, has th
He always brought a bomb himself on any plane flight he took, believing that the chance would be astronomically small that two people on the same flight would both have a bomb. Explain the fallacy i
Find the range, standard deviation and variance for the following data set. Enter ONLY the data value into the answer blank. You do not need to enter Variance = 4.2. Just enter the 4.2. Obviousl
Find the probability that they all will decide to go tomorrow, in which case DisneyWorld has more than 5.4 million people in line when it opens in the morning.
A company manufactures 13 types of cars. Prior to full-scale production, 4 of each type are made, and a sample of 5 cars undergo crash testing. The sales department is happy if one of each type rema
Please compute the range, sample variance and sample standard deviation phone bill using these numbers;
Calculate the standard deviation for random variable X.
You are choosing among three investment plans. The payoffs of these investment plans depends on next year's GDP (see the table below.) You believe that next year's GDP will decrease with a probabili
A pharmaceutical company is testing a new chemical compound that can be used to detect the presence of a disease. In the clinical trial, the company finds that 15% of the patients test positive and
Andy always goes to work at 7 o'clock. Each day, he either drives to work or takes the light rail to work. If Andy drives to work, then there is a 40% chance he'll be late due to heavy traffic. If h
What is the probability that the portfolio's value moves in the same direction in both of the next 2 years (i.e., two ups or two downs)? [Round your answer to 4 decimal places as needed.]