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A survey of magazine subscribers showed that 55.8% rented a car during the last 12 months for business reasons, 44% rented a car for personal reasons, and 25% rented a car for both business and personal reasons.
a. What is the probability that a subscriber rented a car for personal or business reasons?
b. What is the probability that a subscriber rented did not rent a car for either personal or business reasons?
Make a decision regarding the null hypothesis based on the sample information. Interpret the results of the test and state your conclusion.
Develop a decision tree for the case of a company operating at full capacity and with product demand rising. The choice is between new equipment and overtime.
The assembly time for a product is uniformly distributed between 6 to 10 minutes. The probability of assembling the product between 7 to 9 minutes is
Use the hypergeometric formula to find this probability. The lottery commission also pays if a contestant matches 4 or 5 of the 6 winning numbers. Hint: Divide the 44 numbers into two groups, winning numbers and nonwinning numbers.
A device has a sensor connected to an alarming system. The sensor triggers with probability 0.95 if dangerous conditions exist in a given day and with probability 0.005 if conditions are normal during the day. Days with dangerous conditions occur ..
In the accompanying table, the random variable x represents the number of televisions in a household in a certain country. Determine whether or not the table is probability distribution. If it is a probability distribution, find its mean and stand..
Suppose you bid $12000. What is the probability that your bid will be accepted?
In the solution to this problem, what is n? p? q? Does it appear that both np and nq are larger than 5? Why is this an important consideration?
Use a 0.05 significance level to test the claim that these credit rating are from a population with a mean that is equal to 700.
Forecast sales for the next day using a three-day weighted moving average where the weights are 3, 1, and 1 (the highest weight is for the most recent number).
Using a level of significance of .05, is there evidence that the dual degree students are receiving lower grades? Explain.
What is the probability that the next 100 customers will spend an average of less than $56 on dinner?
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