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If a gambler rolls two dice and gets a sum of four, he wins $10; and if he gets a sum of three, he wins $25. The cost to play the game is $5. What is the expectation of this game?
Place your answer, rounded to two decimal places, in the blank. However, if the expected payoff is negative be sure to use a minus sign. For example, -1.23 would be a legitimate entry.
The sample mean of the accounts is found to be y-bar = $94.22, and the sample variance is equal to $455.21. Estimate mu and place a bound on the error of estimation.
Can the researcher conclude that humidity has a significant effect on eating behavior? Use a two-tail test with α = .05.
The demand for airplane passengers (Y) is a function of a average fare (X1), the fare of the competing airline, and the annual per capital income of the passengers(X3)
If we wanted to shorten the interval of the estimation of the true mean of Saturday sales to a width of $600 in total, what should the size of our sample be to achieve it?
Find out the following probabilities. Probability that exactly 27 items will be good.
What is meant by the probability of an event? Discuss how addition and multiplication techniques are used to solve probability problems.
Critically discuss the purpose of developing a frequency distribution? What is the relationship between the relative frequency and the cumulative frequency? Could a frequency distribution contain qualitative data? Why?
Finding the probability of sample and describe the sampling distribution of the sample means.
Define, describe and provide an example of the Komologrov-Smirnov distribution. Use MS-Excel (if possible) to solve this problem, also Show all your work in obtaining the answer.
The 99% confidence interval using a t-distribution is ( ), ( ). Round to one decimal place as needed
Lauren Moore has sold her business for $500,000 and wants to invest in condominium units ( which she intends to rent) and land ( which she will lease to a farmer).
Describe what do you mean by terms 'false positive" and " false negative".
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