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A store must decide how much of a certain commodity to order so as to meet next month's demand, where that demand is assumed to have an exponential distribution with rate λ. If the commodity costs the store c per pound, and can be sold at a price of s > c per pound, how much should be ordered so as to maximize the store's expected pro?t? Assume that any inventory left over at the end of the month is worthless and that there is no penalty if the store cannot meet all the demand.
How many seats sould be in the non-smoking area in order to be very sure (mean+3StandardDeviation) of having enough seating there?
Assume that you only receive 210 dollars if any number greater than or equal to ten tosses are required to obtain the first head. Show that your expected value for this modified game is finite and find its value.
State the alternative hypothesis in statistical terms. Define the critical region by drawing the distribution and labeling the z-critical value.
What is the response variable?
suppose 55 of students are female of which 44 have long hair and 45 of students are male of which 15 have long hair.
what is the central limit theorem? according to the central limit theorem the expected value for a sample mean is as
a consumer advocacy group recorded several variables on 140 models of cars. the resulting information was used to
A certain type of injury has tangible costs of $40,000 per occurrence and intangible costs of $150,000 per occurrence. Perform a cost/benefit analysis to weigh the benefits of the proposed safety glasses policy against its expected costs.
suppose that a particular candidate for public office is in fact favored by 48 of all registered voters in the
If random samples, each with n = 9 scores, are selected from a normal population with µ = 80 and σ = 36, then what is the expected value for the distribution of sample means?
Please answer the following: Prove that the square of an even number is even. Make sure to show all steps required.
a statistician has to decide on the basis of two observations whether the parameter ? of a binomial distribution is 14
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