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You are the owner of a small casino in Las Vegas. You want to reward high rollers who come to your casino. You want to give free accomodations to no more than 10% of your patrons. Suppose that the mean amount wagered by all patrons is $287 with a standard deviation of $15. You should give free accomodations to those individuals who wager over how much money?
The weights (in pounds) of a sample of five boxes being sent by UPS are: 12, 6, 7, 3, & 10.
Findout the probability value for normal distribution. Illustrate the weight of football players is normally distributed with a mean of 200 pounds also a standard deviation of 25 pounds.
Calculate a 95% confidence interval on the average weight of packaged mustard seed. Explain very carefully to the packaging workers what the 95% confidence interval numbers mean. Include your Excel output. Is there anything you would want to note ..
The estimated salary range is $4,500, the margin of error should be $100 and the desired level of confidence is 95%.
If customers arrive according to a non-stationary Poisson process with rate function λ(t) = sin(t) + 5, is the time between the arrivals an exponential distribution?
What is the 95% confidence interval estimate of the population mean cost for a prescription of Zocor?
Calculate the coefficient of skewness and coefficient of variation of minutes spent commuting. What do these statistics tell us?
Determine the sample size necessary to estimate a population proportion to within .03 with 90% confidence assuming you have no knowledge of the approximate value of the sample proportion.
Calculate mean and SS for sample of difference scores.
Three scholarships are available for students. Their values are: $2,000, $2,400, $3,000. Twelve students have applied and no student may receive more than one scholarship. Assume all twelve students are in needs of the funds, how many different..
Let z represent the standard normal variable and suppose a value is randomly selected. Find each of the following probabilities by:
For thefts involving more than $1,000, there is an inverse relationship between the value of the goods stolen and the length of the prison sentence given to the thief.
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