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Cans of soft drinks cost $0.30 in a certain vending machine. What is the expected value and variance of daily revenue (Y) from the machine, if X, the number of cans sold per day has E(X)=125, and Var(X)=50?
What are some conditions under which business decisions are made using subjective probability concepts? Could you please cite two examples of subjective probability.
Develop a linear regression model for these data and forecast carpet sales if 30 construction permits for new homes are filed.
If writing scores for population have standard deviation of σ = 20, does sample give adequate evidence to conclude that new composition course has significant effect?
Determine the critical z values. Suppose that normal distribution applies. Right-tailed test; standard deviation = 0.04.
Consider a machine that fills soda bottles. The process has a mean of 15.9 ounces and a standard deviation of 0.06 ounces. The specification limits are set between 15.8 and 16.2 ounces. a) Compute and interpret the machine's Cp
The standard deviation in cash bonuses is $15,618 and the standard deviation in annual pay is $28,077. The estimated slope of best fitting line relating x and y is?
Batch has just been completed. Determine probability that first three units manufactured in this batch will contain at least total of 4 defects?
Suppose that about 48% of all infants are girls. The maternity ward at a large hospital handles 1000 deliveries per year. A smaller hospital in the same city records about 50 deliveries per year. At which hospital is it more likely that between 46..
This activity is a revision of an activity found in Real Data: A Statistics Workbook Based on Empirical Data by Z. C Holcomb (1997). Published by Pyrczak Publishing.
The probability that the residents?own 2 cars is 55%. Of the households surveyed, 60% had incomes over $50,000. The probability that the? residents of a household own 2 cars is?
Test hypothesis that Site B is more successful in initiating acquaintances than Site A. Use alpha = .05.
If the rods' lengths produced by your line are normally distributed, with a mean equal to the target of 0.2 meters, and a standard deviation of 0.015m, what percentage of rods will be scrapped?
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