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Question: If your company makes a particular decision in the face of uncertainty, you estimate that it will either gain $10,000, gain $1000, or lose $5000, with probabilities 0.40, 0.30, and 0.30, respectively. You (correctly) calculate the EMV as $2800. However, you distrust the use of this EMV for decision making purposes. After all, you reason that you will never receive $2800; you will receive $10,000, $1000, or lose $5000. Discuss this reasoning.
Would it be reasonable to conclude that less than 5 percent of the employees are not able to pass the random drug test?
The average burglary rate for a particular jurisdiction has been 311 per year with a standard deviation of 50. What is the likelihood that the number of burglaries in the next year is between 250 and 300?
Transmission is normally distributed with an average of 78,000 miles and a standard deviation of 15,000 miles. What percentage of these transmissions will last at least 90,000 miles?
a horse race has 12 entries and one person owns 3 of those horses. assuming that there are no ties what is the
Which route should he take to minimize the probability of being late to the meeting? If he tosses a fair coin to decide on a route and he is late, what is the probability that he took the four-crossing route?
1. Use meaning of S notation and compute S(X2), (SX)2 for the following set of numbers: X= 2, 3, 5.
Among 9 electrical components exactly one is known not to function properly. If 3 components are randomly selected, find the probability that all selected components function properly.
question a corporation owns several companies. the strategic planner for the corporation believes dollars spent on
Find a 95% confidence interval for the population mean mercury concentration in the blood of adults who eat fish regularly.
1 let x paretoy. what is distribution for y ln x 1 ?2 if f x1x2 2exp -x1 - x2 for 0ltx1ltx2ltinfinity.find the
yields (for appropriate values of the constants a, b, c, and d) most of the important distributions of statistics. Verify that the differential equation gives
according to recent estimates only 45 of people in africa have access to safe drinking water this being the major
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