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The demand for movie rentals for a newly released movie is random. Suppose a movie rental store charges $2.50 for a new release rental and it costs the movie store $1.25 per copy of the movie. The following describes the distribution of demand for a new release. There is a probability of 0.16 that the store will rent 11 movies; there is a probability of 0.17 that the store will rent 14 movies; there is a probability of 0.35 that the store will rent 18 movies; otherwise, the store will rent 22 movies. What is the expected profit if they order 18 copies of a newly released movie? (please express your answer using 2 decimal places)
What would be your decision if a hypothesis test was conducted on this problem with the null hypothesis given as H0 : µ ≥ 2 and the alternate hypothesis given as H1
A rare disease has just broken out. Doctor Johnson is trying to help, but while treating patients he might expose himself to the disease.
for a population with a mean equal to 100 and a standard deviation equal to 25 calculate the standard error of the mean
1. What is the difference between a histogram and a bar chart? For what type of data would each be appropriate? 2. The following U.S. market shares for 2007 retail car sales have been reported. Source: World Almanac and Book of Facts 2009, p. 122.
the fda tests the tobaccos in two different types of cigars for nicotine content in mg and obtained following results.
in a tire factor the quality control inspector examines a randomly chosen sample of 16 tires. when more than one
a shipping company claims its boxes can carry 36 lb. the production design allows the boxes to be uniform in
Compute and compare the probabilities that the system fails when the probability that component C1 functions is improved to a value of 0.98 and when the probability that component C2 functions is improved to a value of 0.88. Which improvement incr..
(a) Fit a logistic regression model to the response variable y. Use a simple linear regression model as the structure for the linear predictor. (b) Is the logistic regression model in part (a) adequate?
Evaluate percentage of households in town with one or more cars; attach standard error to be evaluate. If this is no possible, describe why not.
First- and second-place trophies are awarded to the two persons receiving the highest and second-highest number of votes. In how many different ways can the trophies be awarded?
phone calls received by a police dept. are normally distributed. a random sample of 16 days showed that the dept.
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