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1. Let's play a game. An urn contains five red, four green and one gold ball other than color, the balls are identical. You are blindfolded and allowed to pick a ball from the urn. Red pays $5, green pays $10 and gold pays $50.
A. Determine the fair price to play this game
B. Let x be the payoff variable for this game. Find e(x)
C. If the price to play this game were $5 a play, would you play? How often? Why
D. If the price to play this game were $15 a play would you play? How often ? Why?
If circuit switching is utilized, how many user can this access link support?
If alternate hypothesis mention that m doesn't equal 4,000, determine the rejection region for the hypothesis test?
A regression model between sales (Y in $1,000), unit price (X 1 in dollars) and television advertisement (X 2 in dollars) resulted in the following function: = 7 - 3X1 + 5X 2 For this model SSR = 3500, SSE = 1500, and the sample size is 18...
Give a possible description why serum cholesterol values for older males are lower than for younger males and reverse is true for females.
The Starbucks in the Bauer College of Business found that 24% of customers purchase more than one cup of coffee per day from their shop. If 180 customers are randomly selected one day, what is the probability that no less than 25% of them purchase..
Find a 98% confidence interval for the mean number of days required for successful completion of physical therapy for patients in the average group. Discuss the results.
In a recent study of incomes in Allegheny county in Pennsylvania it was found that distribution of family incomes is skew to the right. what can we say about the relationship between mean and median?
Describe the sampling distribution of the sample proportion
Find out the estimate of the population mean.The mean daily sales at the Stop and Go are $20,000 for a sample of 40 days. The standard deviation of the sample is $3,000.
A federal report find that a lie detector test given to truthful persons have a probability of 0.2 of suggesting that the person is deceptive. A company asks 12 job applicants to take a lie detect test. Suppose that all 12 applicants answer truthf..
The following study was developed by Economist Simon Fass. Fass surveyed a sample population of low-income households in St. Martin. The variables analyzed were monthly income per adult and choice of rental contract for housing.
Metal stamping machine is producing 10 defective parts per hour. Determine the probability that three or fewer defective parts will be output in a randomly chosen hour, by using the Poisson distribution?
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