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An injection molding machine produces golf tees that are 20.0% nonconforming. Using the normal distribution as an approximation to the binomial, find the probability that, in a random sample of 360 golf tees, 65 or less are nonconforming. Show your work.
he two leading United State manufacturers of high performance radial tires must set their advertising strategies for coming year. Each company has two strategies available:
A hypothesis test for a population proportion ρ is given below: Ho: ρ = 0.10 Ha: ρ ≠ 0.10
Firm A and Firm B are the only competitors in market. Each has to decide what price to set for its product. Once prices are set, they cannot be changed for year. Both companies set prices at the same time.
In a study to estimate the portion of residents in a certain city and its suburbs who favor the construction of a nuclear power plant, it is found that 63 of 100 urban residents favor the construction while only 59 of 125 suburban residents are in..
A famous hypnotist performs to a crowd of 350 students and 180 non-students. The hypnotist knows from previous experience that one half of the students and two third on the non-students are hypnotizable. What is the probability that a randomly cho..
Critical Thinking: Suppose you and a friend each take different random samples of data pairs (x,y) from the sample population. Assume the samples are the same size.
The market for olive oil in new York City is controlled by 2-families, Sopranos and Contraltos. Both families will ruthlessly eliminate any other family that attempts to enter New York City olive oil market.
Figure 10-13 demonstrate the payoff matrix for the only 2-auto dealerships in a community, Jim's Autos and Tim's Autos. The matrix demonstrate the profits that each company would earn from selecting either a low price or a high price.
In a one shot game, if you promote and your rival promotes, you will earn $7 million and your rival will earn $2 million in profits.
Assuming the life length of batteries is normally distributed, what is the p-value associated with this test? Place your answer, rounded to 3 decimal places in the blank. For example, 0.0234 would be a legitimate entry.
Following is a payoff matrix for Intel and AMD. In each cell, 1st number refers to AMD's profit, while second is Intel's.
A telemarketing firm in a certain city uses a device that dials residential telephone numbers in that city at random. Of the first 100 numbers dialed, 51% are unlisted. This is not surprising because 48% of all residential phone numbers in this ci..
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