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In the next year, Allen should make decision whether to invest $10,000 in stock market or in certificate of deposit (CD) at interest rate of 9%. If market is good, Allen thinks that he could get 14% return on his money. With fair market, he expects to get 8% return. If market is bad, he will most probably get no return at all-in other words, return would be 0%. Allen evaluates that probability of good market is 0.4, probability of fair market is 0.4, and probability of bad market is 0.2, and he wants to maximize his long-run average return.
(a) Create the decision table for this problem.
(b) What is the best decision?
The height of a tree will be measured using a clinometer. For this device, the measurement error has a normal distribution with mean meter and standard deviation . If the tree is exactly 35 meters tall, what is the probability that the clinometer ..
Determine the value of population mean? What is the best evaluate of this value?
Calculate p value? What is the critical value?
There is a statistical deception here. Explain what is deceptive about the bar graph.
The amounts dispensed by a cola machine follow the normal distribution with a mean of 7 ounces and a standard deviation of 0.10 ounces per cup.
A certain airplane has 2 independent alternators to provide electrical power. The probability that a given alternator will fail on a 1 hour flight is 0.02. What is the probability that (a) both will fail? (b) Neither will fail? (c) One or the othe..
For the experiment above, let X denote the number of hearts that are drawn. For this random variable, find its expected value and standard deviation.
The US Census Bureau announce that the median sales price of new houses sold in April 2009 was $221,600 while the mean sales price was $274,300. Assume that the standard deviation of the prices is $90,000.
A Private firm reports that 8% of the 2 million small businesses who apply for loan each year receive special interest rate (usually higher than market rate) because of high riskiness associated with small business.
University of Waterloo are much susceptible to hypnosis which University of Tennessee undergraduates. Set up H0 and Ha for the test.
What is the probability that an employee selected at random will need either corrective shoes or major dental work?
It is better to use the median rather than the mean for a distribution when:
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