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At one Las Vegas casino, if you net $5 that a 12 will come up as the total points on two dice, and you win, you will get back $50. If any total other than 12 comes up, you get back $0. based on the assumption that the dice are fair, what is the expected payoff for placing this bet?
Determine the variance of X? (Illustrate your computation either in Table or in Equation form)
The lifetime (hours) of an electronic device is a random variable with the exponential probability density function:
She wants to be 90% confident and be accurate within 5% of the true proportion. Find out the minimum sample size necessary.
A demonstration to verify that an item meets its reliability requirement is based on obtaining 5 successful tests. If the probability of a successful test is 0.9, find the probability that 10 tests will be required to pass the demonstration.
Consumers reported on average 1.7 problems per vehicle with a popular make and model of a 2006 car. We randomly select a vehicle of the same make, model, and year.
Roper ASW conducted a survey to learn about American adults' attitudes toward money and happiness. 56% of respondents said they balance their checkbook at least once a month.
Suppose that January sales for the fourth year turn out to be $295,000. What was your forecast error? If this is a large error, Karen might be puzzled about the difference between your forecast and actual sales value.
The probability that a new advertising campaign will increase sales is assessed as being 0.60. The probability that the cost of developing the new ad campaign can be kept within the original budget allocation is 0.50.
Evaluate the probability that patient taking drug will experience flu symptoms.
It is suspected that the mean turnover has changed and is not 6.0. Use the .05 significance level. Give the formula for the test statistic.
The manufacturer of a coffee dispensing machine claims the ounces per cup is normally distributed with population mean equal to 8 ounces and standard deviation equal to 0.9 ounces. If 50 cups of coffee were measured, what is the possibility that- ..
Prepare an analysis of your survey. Determine if you have used the appropriate measures to research your business problem, and identify the level of measurement being used for each of your survey questions.
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