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A certain state lottery awards 418 prizes; 28-$200 prizes, 120-$25 prizes and 270-$20 prizes, for every 10,000 tickets sold.
a.) Determine what the expected winnings per ticket; over the long term? (Expected value) Explain.
b.) What is the minimum the lottery should charge per ticket if they expect to make a profit?
Determine the largest plausible average balance for the accounts of those using her managed fund in which you could have 90% confidence.
The standard deviation of grade points was 0.65 and the mean was 2.89. The standard error for the sample was
The standard deviation of the time to complete the entire homework assignment
What would be the most appropriate graphical representation to show the dispersion of new home prices in a particular area? Why?
Use given data to create the unbiased point estimate of 12σ'> 2 of percentage of termites that are minor workers.
The chance both flights are full is 0.6. Are the two flights being full independent events and What was the mean ranking for the females in this class
Test whether the mean rate is less than 6%. Use P-value approach.
Find the 90%, 95% and 99% confidence intervals for the proportion of all voters who favor the issue. How many more voters should we include in the sample if we need to reduce the margin of error by half?
According to the study, the mean age of a self-employed individual is 46.6 years with a standard deviation of 10.8 years.
A dish contains 20 gumballs - 9 blue, 6 red and 5 white. We randomly select two gumballs from the dish without replacement. a) Let X be the number of blue gumballs selected. Complete the probability distribution of X by filling in the appropriate p..
Given the following frequency distribution, find out the mean, variance, and standard deviation.
For each of the following, indicate whether the type of probability involved is an example of a priori probability, empirical probability, or subjective probability.
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