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Allen Abbott has a wide-curving, uphill driveway leading to his garage. When ther is a heavy snow, Allen hires a local carpenter, who shovels snow on the side in teh winter, to shovel his driveway. The snow shoveler charges charges $30 to shovel the driveway. Following is a probability distribution of the number of heavy snows each winter
Heavy Snows Probability
1 .13
2 .18
3 .26
4 .23
5 .10
6 .07
7 .03
1.00
Allen is considering purchasing a new self-propelled snowblower for $625. that would allow him, his wife, or his children to clear the driveway after a snow. Discuss what you think allen's decision should be and why?
Does the normal distribution yield a good approximation of the actual results?
h-p is said to be the leading seller of pc's in the U.S WITH 27% share of the pc market. if a researcher selects 130 recent pc purchases
Suppose that a car rental agency offers insurance for a week that will cost $10 per day. A minor fender bender will cost $1,200 while a major accident might cost 10,000.
Create a 90 percent confidence interval for the population proportion of all such firms with this as the primary motivation.
Given the hypothesis Ho: u=400, you conduct a sample of 12 observations and obtain a sample mean of 407 and a sample standard deviation of 6. Using a .01 significance level to test to see if you would reject Ho, what would be the value of your cri..
Computer stocks currently provide an expected rate of return of 16%. Dell, a large computer company, will pay a year-end dividend of $2 per share.
If the coefficient of correlation is 0.4, the percentage of variation in the dependent variable explained by the variation in the independent variable
For the most recent year available, the mean annual cost to attend a private university in the United States was $20,182. Assume the distribution of annual costs follows the normal probability distribution and the standard deviation is $4,400.
For certain bird species, wiith appropriate assumptions, the number of nests escaping predation has a binomial distribution. Suppose the probability of success (that is, a nest's escaping predation is .3. Find the probability that at least half of..
A report states that 46% of home owners have a vegetable garden. How large a sampl.e is needed to estimate the true proportion of home owners who have vegetable gardens to within 4 percentage points with 95% confidence?
Subjects at both sites were classified as dropouts if they left the study before the conclusion, or completers if they finished the study
For the following, describe the target population, sampling frame, sampling unit and observation unit. Is there any selection bias or inaccuracy of responses?
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