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The game of 5-spot Keno is similar to 4-spot Keno. 80 numbers are displayed on a board, and 20 of these numbers will be chosen to be the winning numbers. To play, the player selects 5 numbers on his or her playing card. Suppose a player pay $1 to play, and the $1 is not returned. The payoffs made by the Dunes Casino in Las Vegas for each of the possible outcomes are listed here:
Outcome
Payoff
0, 1, or 2 winning numbers
$0
3 winning numbers
$2
4 winning numbers
$20
5 winning numbers
$480
a. What is the expected value of this game?
b. What is the house edge for this game, expressed as a percentage of $1?
Burnwood Tech plans to issue some $60 par preferred stock with a 6% dividend. A similar stock is selling on the market for $70. Burnwood must pay flotation costs of 5% of the issue price.
Household income does not tend to follow a normal distribution in a particular state, yet average income is approximately $45,000/year in this state, with a standard deviation of about $9000.
The largest salary on the list is $100,000 and is accidentally changed to $1,000,000. What is the new standard deviation?
A sample of 45 students enrolled in the university indicates that X (bar) = $285.4 and s = $42.20. Using the 0.05 level of significance, is there evidence that the population mean is above $300?
If a random sample of 40 customers is taken, what is the probability that the sample average expenditure per customer for this sample will be 87.00 or more?
The proportion of participants registering strong disapproval was 65%. At the 95% confidence interval and using a two-sided test, which of the following statements do these data support?
Construct a 95% confidence interval estimate of the population mean life of the light bulbs.
What is a p-value in testing hypothesis? How does this p-value help us to decide to/not to reject a Null hypothesis?
Convert the binary response variable to a 0/1 continuous response and try some of the standard smoothing methods, such a spline fit to investigate the general form of the response. Does it look logistic?
The college theater department recently staged a production of a modern musical. A researcher recorded the gender of each student entering the theater and found a total of 385 females and 215 males.
hypothesis test for the difference between two means.the president of the american insurance institute wants to compare
Find the confidence interval of the true proportion of students to receive a 3.0 GPA. Find the Z score, standard error, range, and your conclusion in a sentence.
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