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The mean and standard deviation of the number of micro-chips manufactured by a machine per minute are 9 and 3 respectively. The probability that any chip will be faulty is 0.01. Using suitable probability model, calculate the probability of producing more than 3 faulty chips per hour.Explain the reasons for choosing your probability model.
The proportion p1 of all imported autos sold to 25-40 age group is greater than or equal to the proportion p2 of imported autos sold to over 40 age group?
What is the probability trading volume will be less than 400 million shares?
If you are told a population has a mean of 25 and a variance of 0, what must you conclude? a) Someone has made a mistake. b) There is only one element in the population.
Let X be a normal distributed random Variable with u=100 and o=10. the probability that X is between 70 and 100 is:
What is sampling error? Could value of sampling error be zero? If it were zero, what would this mean?
Assume that the class has 60 students and 60 minutes to complete the exams. How many students do you expect not to be able to complete the exam in the alotted time?
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..
An economics professor randomly selected 100 millionaires in the United States. The average age of these millionaires was 54.8 years with a standard deviation of 7.9 years.
Discuss what is meant by mean, median, mode, variance, and standard deviation for a set of scores. Also mention under what circumstance you would use each of these.
Construct a 95% confidence interval estimate for the population proportion of airline travelers who think that the airline fee that is most unreasonable is additional charges to redeem point/miles.
Given below is the rate of return for one year (reported in percent) for the sample of 12 mutual funds. Using .05 significance level is it sensible to conclude that mean rate of return is more than 4.50 percent?
The cost of each book is a random variable with mean 30. What is the expected value of his total expenditure? Find the joint PMF of K and N. Find the marginal PMF of N.
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