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A new product has the following profit projections, associated probabilities, and indifference probability:
Profit Probability Indifference Probability
$150,000 .10 --
$100,000 .25 .95
$50,000 .20 .70
0 .15 .50
-50,000 .20 .25
If you randomly select ten m&m's, what is the probability that exactly three of them are green?
prevent coronary artery vasoconstriction and the attendant reduction in blood flow to the heart and mechanical function.
The level of significance indicates the probability of rejecting a false null hypothesis.
A spokesman for a popular television game show claims that contestants on the show win an average of $1200. In a random sample, 35 contestants were questioned on the amount of money they had won in order to test the hypothesis.
Draw a transition diagram. Write the Transition Matrix. If it rains on Thursday, what is the probability that the restaurant will be closed on Saturday? And on Sunday?
What is the probability of getting a number less than 5 on both?
What is the probability that a randomly selected monthly cell phone bill is more than $100?
You should use the hypergeometric distribution because you are sampling a small population without replacement.you are sampling a large population without replacement. You are sampling a small population with replacement.
Assume there're three states of the economy: boom, moderate growth, and recession. The annual return on company A stock and company B stock in each state of the economy is given below
Confidence interval for the population mean - Prepare a 99% confidence interval for the population mean.
Determine the conditions under which you would use a discrete probability distribution rather than a continuous probability distribution. Provide one (1) example to illustrate your reasoning.
A quality control engineer wants to check if a particular product meets the specification of 90% of the entire product shipped is in perfect condition. He randomly selects a sample of 10 items of the product from a large lot ready to be shipped.
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