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A company is bidding on three contracts with values of $20 million, $80 million and $50 million with corresponding win probabilities of ½ ¼ and ¾.
a) Determine and plot the probability mass function and probability distribution function of the contract award amount (in millions of dollars).
b) What is the probability of being awarded at least $100 million?
c) What is the mean, variance & standard deviation of contract award amount (in millions of dollars)?
The time between arrivals of cars at the Petroco Service Station is defined by thw following probability distribution.
What is the probability that it will crash at least two times in a given semester? What is the probability that it will not crash at all in a given semester?
Determine the rejection region for the test of Ho: (mean 1 - mean 2) > 2.43 Use a = 0.04. z >
A study of 100 sedentary people in this age group is planned to test whether they have a higher or lower level of plasma glucose then the general population.
Calculate the mean and the standard error of the sampling distribution of the sample means. Also, find the mean and standard error of the sampling distribution for samples of size 5.
Given the EOQ, what is the average inventory? What is the annual inventory holding cost and in minimizing cost, how many orders would be made each year? What would be the annual ordering cost
Test the hypotheses that the average household income in the township is greater than $100,000. Hint: Start by stating the null and alternative hypotheses.
A loaf of bread is normally distributed with a mean of 22 oz and a standard deviation of 0.5 oz. What is the probability that a loaf is more than 22.25 oz?
If you draw one ball from the urn what is the probability that it is blue or white?
Calculate a 3-month moving average forecast for months 4 through 9 also Compare the two forecasts by utilizing MAD. Which forecast appears to be more accurate.
Calculate the 95% confident interval to estimate the percentage of Millennial who believe that their generation has a distinctive identity as compared with the other generations
If 1 man aged 18-24 is arbitrarily chosen, determine the probability that his serum cholesterol level is between 165 and 200.
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