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Many random number generators allow users to specify the range of the random numbers to be produced. Suppose that you specify that the random number Y can take any value between 0 and 2. Then the density curve of the outcomes has constant height between 0 and 2, and height 0 elsewhere.
In order to answer the following questions, first draw a density curve describing this distribution. Pay attention to the height of the curve!
p( 0.6 < Y < 1.1 ) p ( Y > or equal to 1)
A telemarketing firm in a certain city uses a device that dials residential telephone numbers in that city at random. Of the first 100 numbers dialed, 51% are unlisted. This is not surprising because 48% of all residential phone numbers in this ci..
Construct a 90% confidence interval for the population average weight of the candies.
A null hypothesis is that the average pulse rate of adults is 70. For a sample of 64 adults, the average pulse rate is 71.8. A significance test is done and the p-value is 0.02. What is the most appropriate conclusion based on α of 0.05?
The time between surface nish problems in a galvanizing process is exponentially distributed with a mean of 40 hours. A single plant operates three galvanizing lines that are assumed to operate independently.
Assume that the relationship between the growth of a fish population and the population size can be expressed as g = 2P - 0.1P, where g is the growth in tons and P is the size of the population (in thousands of tons).
Assume that the companies in an oligopolistic market engage in a price war and, as a result, all companies earn lower profits. Game theory would describe this as what?
The Candle Company and the Wick Corporation are the only manufactures of a very sophisticated type of flammable material.
In a one shot game, if you promote and your rival promotes, you will earn $7 million and your rival will earn $2 million in profits.
Suppose you are a potential entrant into a market that previously has had entry blocked through the government. Your market research has estimated that the market demand curve for industry is
Suppose two companies, A and B, that produce super computers. Each can manufacture the next generation super computer for math or for chip research.
Determine the solution to the given advertising decision game between Coke and Pepsi, assuming the companies act independently.
Suppose you are planning entering a market serviced through a monopolist. You currently receive $0 economic profits, while monopolist receives $5.
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