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An instant lottery ticket costs $2. Out of a total of 10,000 tickets printed for this lottery, 1000 tickets contain a prize of $5 each, 100 tickets have a prize of $10 each, 5 tickets have a prize of $1000 each, and 1 ticket has a prize of $5000. Let x be the random variable that denotes the net amount a playr wins by playing this lottery. Write the probablity distribution of x. Determine the mean and standard deviation of x. How will you interpret the values of the mean and standard deviation of x?
The Graduate Management Admission Council, who administers the test, claims that the mean total score is 529. Suppose a random sample of 8 students took the test, and their scores are given below. 699, 560, 414, 570, 521, 663, 727, 413 Use α = .05..
Use the value 20 for the population standard deviation of scores on this subsection.
The summation sign is usually represented by:
Decision making under risk is the same as decision making under uncertainty because in both the probabilities are unknown.
The mean maximum oxygen uptake for elite athletes has been found to be 80 with a standard deviation of 8.1. Assume that the distribution is approximately normal.
Is there a relationship between sales and newspaper?
The standard deviation of the population of adult female height scores is 3 inches. A random sample of 50 women yields a mean height of 64 inches. Calculate the standard error of the mean.
At the .05 level of significance, is there evidence of a difference in variability in the shipping time between the two outlets? What decision should the carpet manufacturer make? Please provide step by step solution.
You have been asked to test whether data support company's claim? Test at α = 0.05. Suppose normality.
If new inspector measures 101 stampings with variance of 0.13 square inch, test at 0.05 level of significance whether inspector is making satisfactory measurements. Suppose normality.
Find the mean ______________ and the standard deviation _____________
Gas consumption of 3 cars (labeled car A, car B, and car C) using 4 different kinds of gasoline. Is there difference among kinds of gasoline?
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