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A manufacturing firm can produce 1, 2, or 3 units of a product in a month, but the demand is uncertain. The demand is a discrete random variable that can take a value of 1, 2, or 3 with probabilities 0.2, 0.2, and 0.6, respectively.
If the unit cost of production is $400, unit revenue is $1000, and unit cost of unfulfilled demand is $0, determine the output that maximizes the expected total profit.
The Z-score cutoff (or cutoffs) on the comparison distribution at which the null hypothesis should be rejected.
alan while snooping around his grandmothers basement stumbled upon a shiny object protruding from under a stack of
suppose the random variable x has mean 45 and standard deviation of 15 and the random variable y has mean 15 and
Develop a probability distribution for the number of students in the sample who watch soap operas.
Perform 5 t-tests on the data comparing C1 to C2 on each of the 5 questions. Indicate which of the 5 variables has a difference between C1 and C2.
Two samples of 150 cars (sample A) and 250 cars (sample B) were taken to test for the defective component. Which of the following statements must be true:
To find out the prior probability, conditional probability and posterior probability. Calculate the posterior probability that the bid will be successful given a request for additional information.
Jared bets on the number 7 for each of 100 spins of a roulette wheel. Because P(7) = 1/38 he expects to win two or three times. What is the probability that Jared will actually win two or more times?
How much error, on average, would you expect between the sample mean (M) and the population mean for: a sample of n=4 scores, a sample of n=16 scores, and a sample of n=25 scores.
USA snapshot presented a bar graph depicting business travelers' impression of wait times in airport security lines over the past 12 months. Statistics were derived from Travel Industry Association of American Business Traveler Survey of 2034 resp..
people arrive at a college admissions office at rate 1 per minute. when k people have arrive a tour starts. student
43 students, 22are sophomores, 28are chemistry majors, and 11are neither. What are the probability that the student is both a sophomore and a chemistry major?
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