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Suppose a bookie will give you $6 for every $1 you risk if you pick the winner in 3 ballgames. For every $1 bet, you either lose $1 or gain $6. What is the bookie's expected earnings per dollar wagered?
Develop the 5-Step Hypothesis Test for a particular claim related to your work or life environment. (This should be a test of one-sample mean or one-sample proportion.
How large a sample is needed to estimate the true proportion of home owners who have vegetable gardens to within 0.04 with 98% confidence?
Jasmine is an African American graduate student. She is conducting research on the effects that affirmative action programs have had on American corporations.
A random sample of 20 single men was asked if they would welcome a woman taking the initiative in asking for a date. What is the probability that none of the men will say yes?
What is an interaction? Describe an example; what are the variables within your population (work, social, academic, etc.) for which you might expect an interaction.
Suppose that 50 identical batteries are being tested. After 8 hours of continuous use, assume that a given battery is still operating with a probability of 0.70 and has failed with a probability of 0.30.
A product is made up of two subsystems in parallel. Subsystem one consists of ten elements in series each with a failure rate of 1/100. The second subsystem consists of 5 elements in series each with a failure rate of 1/200. What is the overall re..
An economist is interested in studying the spending habits of consumers in a particular region. The population variance is known to be $1,000,000. A random sample of 50 individuals resulted in an average expense of $15,000. What is the width of th..
The t-statistics that was obtained in the study of 400 subjects was t=20, rejecting the null hypothesis and showing that the drug has a beneficial effect. Why was management upset?
Describe what you find then produce an ANOVA for the problem.
You would like to invest if the price is likely to rise in the long run. You have data on the daily average price of this stock over the past 12 months. Your best action is to?
Suppose that 12 people must travel in 3 cars containing 4 people each from LA to New York. How many different arrangements are there?
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