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A popular lottery game takes 80 balls, numbered 1 through 80, places the balls in a hopper which then mixes them up throughly. 20 of these balls are taken out. The simplest way for a person to play is to pay $1 and pick one number. If the player's number is one of the 20 chosen, they win back $3. Let X=the net amount gained on a single play of the game.
a) Compute the expected value of X and explain what this means for the player
b) Is this game "fair"? Explain why or why not.
In an article in the Journal of Management Information Systems, Mahmood and Mann investigate how information technology (IT) investment relates to company performance.
Bolts are randomly selected until a 5 mm bolt is obtained. The outcomes are the sequences of bolts that can be selected. So one outcome is 1, and the other is 342. List the equally likely outcomes.
Consider a random sample X1 ,X2 ,• • • , X,, from the Weibull distribution with p.d.f. f( x; 0, -r) = 0-rxi - 1e-0xr, 0 x oo, where O 0, 0 -r, zero elsewhere. (a) If -r is known, find the m.l.e. of 0.
Identify a scientific or real-world problem with a relevant data set
Estimate the population mean
1.find the probability a randomly selected person has an iq greater than 130.probability statement draw a picture2. use
The average cost for service provided per person per day is random variable with normal distribution of N$ 100 and a standard deviation of N$ 22. What is the probability that the cost will be at least N$ 127 per day per person.
You have been asked to determine on what types of grasslands two species of birds, northern harriers and short-eared owls, build nests.
An auditor reviewed 25 oral surgery insurance claims from a particular surgical office, determining that the mean out-of-pocket patient billing above the reimbursed amount was $275.66 with a standard deviation of $78.11.
suppose that john and david are shooting at a target. the probability that john hits the target is 17 and the
Using a level of significance of α = 0.1, what is the probability of a Type I error in one or more of the pair-wise hypothesis tests? Do i have to follow the 6-step hypothesis procedure? or is this a statement?
Consider 8 randomly chosen blood donors, what is the probability that exactly half of them have type a blood?
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