What is the expected value of a lottery ticket
What is the expected value of a lottery ticket where there are only 10 chances in ten millions of winning the grand prize of $100 million?
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a. What decision should be made by the optimist? b. What decision should be made by the conservative?
A statistician needs to survey a sample of 50 people that is representative of voters in his community. He prepared a list of phone numbers of 50 randomly selected, expected voters. Next morning, he came to work at 8:00 and began to make calls. By
The PG County conducts annual surveys with twenty-five randomly assigned members of the community to evaluate their perception of safety. If the person claims that the criminal activity has not changed when compared with last year his answer recei
In January 2006, the Web site for M&M TM candies claimed that 24% of plain M&M candies are blue, 20% are orange, 16% green, 14% yellow, and 13% each red and brown. You select one M&M candy at random from a package. Describe the sample
In a nationwide survey of n = 1,030 adults, 6% answered yes to the question "During the last year did anyone break into or somehow illegally get into your home or apartment?" A 98% confidence interval for the proportion of all Americans who had th
2 percent of the homes with T.V. sets served by cable T.V. If a random sample of 6 is taken from these homes find the probability distribution of x where x is the number of T.V. homes in the sample having cable T.V. What is the probability that a
Simulate 1000 iterations of the two strategies over the 6-year period. Create a histogram of the final fund values. Based on your simulation results, which of the two strategies would you recommend? Why?
At the .01 level of significance, is the mean grade of the female students higher than that of the males?
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