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The number of rescue calls received by a rescue squad in a city follows a Poisson distribution with µ = 2.83 per day. The squad can handle at most four calls a day.
a. What is the probability that the squad will be able to handle all the calls on a particular day?
b. The squad wants to have at least 95% confidence of being able to handle all the calls received in a day. At least how many calls a day should the squad be prepared for?
c. Assuming that the squad can handle at most four calls a day, what is the largest value of µ that would yield 95% confidence that the squad can handle all calls?
Decision analysis with sample information/expected value/utility analysis/quantitative methodsProblem:A television network has been receiving low ratings for its programs.
an april 2004 article on heartheissues.com stated that americans have an average of 2.31 televisions per household. if
The probability that an American CEO can transact business in a foreign language is 0.2. Ten American CEO's are chosen at random. b) what is the probability that at least two can transact business in a foreign language?
Suppose a restaurant business succeeds 60% of the time. Suppose that there are three such restaurants open in your city. When they don't compete with one another, it is reasonable to believe that their relative success would be independent.
Find the power of the test to determine if the the new cream is effective, when the mean percent weight reduction is actually 2.4%. Assume that the population standard deviation is 7% and that the significance level is α=0.03.
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Simulate the arrival of cars at the service station for 20 arrivals and compute the average time between stations and Simulate the arrival of the cars at the service station for 1 hour
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Suppose the annual return on XYZ stock follows a normal distribution with mean 0.12 and standard deviation 0.30.
For a large group of overseas passengers, the mean is 78 pounds and the standard deviation is 15 pounds. compute the relative dispersion of each group.
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