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The disc containing the only copy of your term project just got corrupted, and the disc got mixed up with three other corrupted discs that were lying around. It is equally likely that any of the four discs holds the corrupted remains of your term project. Your computer expert friend offers to have a look, and you know from past experience that his probability of finding your term project from any disc is 0.4 (assuming the term project is there). Given that he searches on disc 1 but cannot find your thesis, what is the probability that your thesis is on disc i for i = 1,2,3,4.
If the store orders three copies of the magazine, what is the mean value of the profit? (Profit = Revenue - Cost). If the store orders four copies of the magazine, is it better to order four than three copies of the magazine. Explain.
In this group four were African American, 6 were hispanic, and one was Asian. Was this a good sample on which to norm this test? why or why not? What are your suggestions?
Sixty-four students in an introductory college economics class were asked how many credits they had earned in college, and how certain they were about their choice of major.
What is the critical value for a two-tailed F-Test with a=0.10, when the sample size from which the variance for the numerator was obtained was 10,
Since Richard has not attended class recently, he doesn't know any of the answers. Assuming that Richard guesses on all ten questions, what is the probability he answers at least half correctly?
The table below shows the probability distribution of the annual sales (in Millions) of a small rm. Calculate the Expected value, Variance, and Standard deviation of the annual sales?
which is a value often used for the upper limit of the range of normal values. What do the results suggest about the sample group?
A recent study at a local college claimed that the proportion of students who commute more than fifteen miles to school is no more than 25%.
Use a 0.01 significance level to test the claim that flights scheduled one day in advance cost more than flights scheduled 30 days in advance.
In the following observational studies, describe changes that could be made to the data collection process that would result in an experiment rather than an observation study. Also, offer suggestions about unseen biases or lurking variables that m..
A manager receives a forecast for next year. Demand is projected to be 600 units for the first half of the year and 900 units for the second half.
Suppose it is desired to estimate the population mean number of miles with a margin of error of ± 2 miles at 95% confidence. Do the data provide this desired level of precision? What action, if any, would you recommend be taken?
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