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An investor owns three common stocks. Each stock, independent of the others, has equally likely chances of (1) increasing in value, (2) decreasing in value, or (3) remaining the same value. Estimate the probability at least two of the stocks increase in value. Estimate the probability at least two of the stocks increase in value.
20% of their income tax returns are audited. Of five randomly chosen individuals, what is the probability that none will have their returns audited?
Quarterly customer surveys are taken at a medical center. Each individual department has scores and is comparted to the medical center average. Department of Physical Therapy had scores of 9.14, 9.19 and 7.75 for quarters 1-3 respectively.
Form a frequency distribution and a percentage distribution that have class intervals with the upper class limits $99, $119, and so on.
Identity Probability Distributions. In this exercise, determine whether a probability distribution is given. In the case where a probability distribution is not described
You're not sure if you should buy a stock and need to discover the probability of the stock having a positive return (based on one year).
A distributor of pre-washed shredded lettuce is opening a new plant and considering whether to use mechanized process or manual process to prepare the product.
A neurologist wants to detect whether the mean response time for drug-injected rats differs from a control group not injected. The control group has the mean response time of 1.2 seconds.
Tests it and then puts it to one side. this is repeated 5 times. What is the probabilty that none of the five tested were faulty?
A farmer in Iowa owns 45 acres of land. He is going to plant each acre with wheat or corn. Each acre planted with wheat yields $200 profit, requires 3 workers, and requires 2 tons of fertilizer; each with corn yields $300 profit, requires 2 worker..
Bags of tea are sampled to ensure proper weight. The overall average for samples is 8 ounces. Each sample contains 10 bags. The average range is 0.1 ounces.
Chi-square test for independence of attributes - Describe why a x 2 test of the resulting contingency table is appropriate for such an investigation.
Most of the time managers will have initial (or prior) knowledge of the probabilities that an event or outcome will result. When new information is obtained, initial probability projections can be revised and improved. What statistical techniques ..
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