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The number of times that an individual contracts a cold in a given year is a Poisson random variable with parameter λ = 5. Suppose a new wonder drug (based on large quantities of vitamin C) that has just been marketed reduces the Poisson parameter to λ = 3 for 75 percent of the population. For the other 25 percent of the population, the drug has no effect on colds. If an individual tries the drug for a year and has 2 colds in that time, what is the probability that the drug is beneficial to that individual?
If the production process is in control, the mean number of chips per cookie is 6.0 What is the probability that in any particular cookie being inspected. What is probability that in any partcular cookie being inspected, there are less than 4 choco..
The number of cases of merlot wine sold by a Paso Robles winery in an 8-year period follows:
The price of a book depends on the length. Let the random variable C denote the price of a book in dollars. If C = 4 + 0.1*P, what is the expected value of the price of a book?
Test the hypothesis that the dogs did significantly better than what would be expected with random guessing.
Cold Stone Creamery has recorded demand for the particular flavor of ice cream during first seven days of July. Results are as follows: Forecast the sales for 8th day of July using 5-day moving average.
A random sample of 100 computers showed a mean of 115 gigabytes used with a standard deviation of 20 gigabytes. What is the standard error of the mean?
Scenario 2: If the standard deviation is to remain at 0.05 ounces, what mean does the filling machine need to have to achieve this goal.
Suppose 18 customers are selected at random. What is the probability that between two and six people inclusive want hot peppers?
If person is selected at random and tested, determine the probability of that person having an IQ score between 85 and 115. Make use of EXCEL to help determine the probability.
Determine the probability that a single light bulb lasts over 120 hours. (d) Could you use the CLT to approximate the distribution of the total lifetime of these bulbs?
At 5 % level of significance, does this sample prove violation of the guideline that average patient muts pay no more than $250 out-of-pocket? Is this a close decision?
Out to right, create a 90% confidence interval estimate of sigma (σ), population standard deviation.
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