Random variable distributed as normal
Let X be the random variable distributed as Normal(5,4). Find the probabilities of the following events:
(i) P(X ? 6).
(ii) P(X > 4).
(iii) P(|X - 5| > 1).
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Demand for coffee is given by the Qd = 150000-15000p, where p is the market price. The market for coffee is perfectly competitive.
Let A be the event that both of your two hole cards are face cards as well as let B be the event that both your hole cards form pair. Are A and B independent?
Determine examples of variables that follow a binomial probability distribution? What are examples of variables that follow a Poisson distribution? When might you use a geometric probability?
Calculate the probability of winning the following types of bets:
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The probability that American CEO can transact business in a foreign language is .20. Twelve American CEOs are chosen at random.
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