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A mineral economist estimated that a particular mining venture had probability 0.4 of a $30 million loss, probability 0.5 of a $20 million profit, and probability 0.1 of a $40 million profit. Let X represent the profit, in millions of dollars. Find the probability distribution of the profit and the expected value of the profit. Does this venture represent an expected gain or an expected loss? What would your recommendation be to the company?
What are the assumptions of regression analysis and how do you evaluate them?
Create a linear model to estimate the number of points students will score on the next exam from the number of hours the student studies.
What does null hypothesis for repeated-measures hypothesis test state?
A furniture store claims that a specially ordered product will take, on average, mean= 35 days (5 weeks) to arrive. The standard deviation of these waiting times is 5 days.
MoE's concessions manager believes the average amount that mall customers spend on food during a visit has increased over the historical average of $18.75, due to the opening of some new upscale restaurants in the mall. Use the data in the file to..
What happens to the confidence interval and the power of the test at a particular point of interest. As one increases the sample size of a test, all else remaining the same.
Suppose that $126,000 is to be allocated for advertising, research, and investment in the ratio 10:4:2. How much money will be allocated for each?
a large manufacturing plant uses lightbulbs with lifetimes that are normally distributed with a mean of 1000 hours and
You are investigating the flight characteristics of different kinds of birds. You collect a sample of 33 European swallows (Hirundo rustica) and measure their air-speed velocity in a borrowed wind tunnel.
For many years, TV executives used the guideline that 30 percent of the audiences were watching each of the prime-time networks and the 10 percent were watching cable stations on a weekday night. A random sample of 500 viewers in the Tampa - St.
Why is estimating a multiple regression model just as easy as bivariate regression?
In any given month, the probability that a manufacturer will have an accident is 35%, What is the probability that in a 6 month period, the manufacturer will have two or fewer accident free months?
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