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Consider rolling one (six-sided) fair die and tossing one (two-sided) fair coin. If the coin turns up heads, then the number of spots showing on the die is the score of that trial. If the coin turns up tails, then twice the number of spots showing on the die is the value for that trial. In other words, if the coin-toss results in a head and the die lands showing a 4 face up, then the score is 4 points for that trial. If the coin were to land tails up and the die landed a 4 face up, then the score of that trial will be 8 points. Determine the possible outcomes in the sample space and construct a probability distribution table. Once that is completed you are to find the expectedvalue of the following experiment. If I were to invite you to play the above game where I would pay you your score in dollars (1 point = 1 dollar), what should I charge you to play? Using that ticket price, how many games would have to be played in order for me to have an expected profit of $100.00?
Walleye is a common game fish. Adult walleye have a length with a mean of 44 cm and a standard deviation of 4 cm and the distribution of lengths is approximately Normal. What fraction of walleye are between 40 and 48 cm in length?
It is estimated that 10 percent of those taking the quantitative methods portion of the CPA examination fail that section. Sixty students are taking the exam on Saturday.
Researchers at a pharmaceutical company have found that the effective time duration of a safe dosage of a pain relief drug is normally distributed with mean 2 hours and standard deviation 0.3 hour.
What does confidence interval tell you? What does it mean? What 2 things can a researcher do to decrease width of a confidence interval? What are the effects?
Indicate your hypotheses, decision rule, statistical decision and management conclusion using the critical value and then find the p-value and state your decision rule, statistical decision and management conclusion using this method.
To determine the possible effect of a chemical treatment on the rate of seed germination, 300 chemically treated seeds and 250 untreated seeds were sown.
What is the null hypothesis in a chi-squared test of independence? How many 'tails' can a chi-squared test have, one or two? In a regression analysis, what do the residuals from the fitted line add up to?
How large a sample should we take if we wish the 95% margin of error to be plus or minus $15.00. Assume from previous studies that the standard deviation is $120.
iven an infinite population with a mean of 75 and a standard deviation of 12, the probability that the mean of a sample of 36 observations taken at random from this population exceeds 78 is?
We select a random sample of college graduates employed full-time and find that the mean of the sample is 36 hours and that the standard deviation is 5 hours.
Suppose that 1 out of 500 infant's are born with Down's Syndrome.
A company uses triple time estimates to determine expected completion time for all of their projects. If they determined the expected time to complete a project is 25 weeks with a variance of of 9 weeks
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