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A distribution of data about the sales reps' salaries per month is found to have an arithmetic mean of N60,000, with standard deviation of N15,000 and a coefficient of skewness of 0.92. Explain what these terms mean in describing the distribution of the sales reps' salaries.
A game involving a pair of dice pays you 3 with probability 17/36, costs you 2 with probability 14/36, and costs you 4 with probability 5/36. What is your probability of losing money in one play of the game?
Use value you found in part a to find out degree of confidence for interval 65.65
You have two unbiased estimates, e 1 and e 2 , of a quantity with variances V 1 and V 2 respectively, and covariance Cov {e1,e 2 } = C. Form a new unbiased estimate:
Can we conclude from this that most workers there earn between $25 and $35 per hour? Is this the right interpretation for the margin of error?
A business owner decides to use a binomial distribution to solve one of his problems.
The average number of typos on one page of a manuscript is 8. What is the probability that 4 to 6 type appear on 2 pages of the manuscript? Imagine Poisson distribution.
Determine a 95% confidence interval for mean amount spent by all Internet shoppers.
Find the lowest possible score a candidate can score and still qualify. Assume the scores are normally distributed.
Revenue and cost functions for producing and selling quantity x for certain production facility are given below. Find out profit function P(x).
The manufacturer of a coffee dispensing machine claims the ounces per cup is normally distributed with population mean equal to 8 ounces and standard deviation equal to 0.9 ounces. If 50 cups of coffee were measured, what is the possibility that- ..
He would like to determine whether there are more units produced on the afternoon shift than on the day shift.
Conditional and compound probabilities.The table below gives the distribution of blood types by gender in a group of 1000 individuals.
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