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A pharmaceutical company has determined that if a new cholesterol-reducing drug is manufactured (introduced to the market) the following probability distribution will describe this drug's contribution to the company profits during the next six months.
Profit Contribution Probability of Profit contribution($30,000) 0.2$50,000 0.5$200,000 0.3
The company management has decided to market this product if the expected contribution to profit for the next six months is more than $90,000. Based on the information given above, should the company begin manufacturing the new drug?
If a blue ball is selected you win nothing. Let X be the amount that you win. The expected value of X and let the random variable X be a random number with the uniform density curve given below
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To forecast attendance at an yearly tennis tournament a model has been developed that uses attendance from the previous year and the amount spent for advertising this year.
Calculate expected number of interruptions per day. Calculate standard deviation.
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The total blood cholesterol concentrations, in mg/dL, are shown below for a random sample of six people. In the table below, x is the age of the subject and y is the subject's total cholesterol concentration. Find the 95% prediction interval when ..
Evaluate z statistic for the Wilcoxon rank sum test, standard deviation for the Wilcoxon rank sum test and P-value for the Wilcoxon rank sum test
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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?
Compute the suitable Test Statistic to test hypothesis that the proportion of condominiums that sold within 30 days decreased from 2006 to 2007.
What are the possible combinations of coins that Sanjay could have received in change?
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