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An orange grower in Florida faces a dilemma. The weather forecast is for cold weather, and there is a 50% chance that the temperature tonight will be cold enough to freeze and destroy his entire crop, which is worth some $50,000. He can take two pos- sible actions to try to alleviate his loss if the temperature drops. First, he could set burners in the orchard; this would cost $5000, but he could still expect to incur dam- age of approximately $15,000 to $20,000. Second, he could set up sprinklers to spray the trees. If the temperature drops, the water would freeze on the fruit and provide some insulation. This method is cheaper ($2000), but less effective. With the sprin- klers he could expect to incur as much as $25,000 to $30,000 of the loss with no pro- tective action.
Compare the grower's expected values for the three alternatives he has, considering the various possible loss scenarios for the burners and the sprinklers. Which alternative would you suggest the grower take? Why?
A bag contains 4 red and 3 black balls. A second bag contains 2 red and 4 black balls. One bag is selected at random. If from the selected bag one ball is drawn, then the probability that the ball drawn is red is
Show that R2 is not a countable union of ranges of a C 1 curves. Hint: Show that the range of a C 1 curve on a finite interval is nowhere dense.
A regional manager visits local fast-food franchises and evaluates the speed of the service. If the manager receives her meal within 45 seconds, the server is given a free movie-admission coupon.
How many participants must be enrolled in the study? Assume that the standard deviation of total cholesterol is 18.5.
Ppopulation with a mean of 240 and standard deviation of 18. Find the mean & standard deviation of sample distribution of the mean?
the slider p moves inward by pulling a string is not shown. the arm angular position is given in radians by theta
the accompanying data show the number of people working and the sales for a small bookstore. the regression line is
We wish to know if, on the basis of these data, we may conclude that the mean systolic blood pressure for a population of African-American men is greater than 140.
a sample of 31 data points was collected from a population whose mean is 20 and standard deviation is 3. if a randomly
in a game you have a 20 chance of winning 20 a 10 chance of winning 15 a 20 chance of winning 10 and a 50 chance of
Which of the numbers you calculated is a better measure of the central tendency of the heights given? Give a specific statistical reason for your conclusion.
A hypothesis is being conducted. The p-value was found to be 0.0768. For which of the following levels of significance will the null hypothesis be rejected?
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