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A certain lottery game is played by choosing four numbers from 1 to 15 (no repetition of numbers;order of the numbers does not matter). You win the top prize in a particular draw if the the four numbers on your ticket are the winning numbers.There is only one top prize in each draw.You have decided to have the following four numbers: 1-10-11-12 and buy only one lottery ticket of this number combination in each draw for the next 100 draws.
What is the probability that you win the top prize at least once in the next 100 draws?
Determine the solution to the given advertising decision game between Coke and Pepsi, assuming the companies act independently.
A dentist sees about fifteen new patients per month (the rest of her patients are repeats). She knows that on average, over the past year, about half of her patients have needed at least one filling on their first visit.
What is the probability that an executive who speaks a foreign language has not traveled internationally?
Suppose that the MBA education industry is constant cost and is in long run equilibrium. Demand raise, but due to strict accreditation standards, new companies are not allowed to enter the market.
Use the above survey results to test the claim that less than half of all Ohio State female students who, if they had a cell phone, would be willing to walk somewhere after dark that they would normally not go. What is the value of the test statis..
Suppose you are a potential entrant into a market that previously has had entry blocked through the government. Your market research has estimated that the market demand curve for industry is
Ken and Gerard are roommates for a weekend and have succeeded in making their living quarters cluttered in very little time.
The time between surface nish problems in a galvanizing process is exponentially distributed with a mean of 40 hours. A single plant operates three galvanizing lines that are assumed to operate independently.
It costs each company Brokely $3,000 per period to use filters that avoid polluting the lake. However, each company must use the lake's water in production
Use the given payoff matrix for a simultaneous move one shot game to answer the accompanying questions.
There are 10 flights from Minneapolis to St. Cloud each day. The probability that any one flight is late is 0.05. Using the binomial probability formula, what is the probability that 1 or more are late?
In a one shot game, if you promote and your rival promotes, you will earn $7 million and your rival will earn $2 million in profits.
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