Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Probability: Expected Value
Problem 1: An insurance company estimates the probability of an earthquake in the next year to be 0.0013. The average damage did by an earthquake it estimates to be $60,000. If the company offers earthquake insurance for $100, what is the insurance companies' expected value of the policy?
Problem 2: In a gambling game a person is paid $9 if they draw a jack or a Queen and $18 if they draw a King or an Ace from an ordinary deck of 52 playing cards. If they draw any other card, they lose. How much should they pay to play if the game is to be fair (i.e., expected value is zero)?
a. what is the point estimate of the population mean? b. what is the point estimate of the population standard deviation?
All but one of the following statements contain a blunder. Which one does not contain a blunder
In the survey of 8000 women, 5431 say they change their nail polish once the week. Create the 99% confidence interval for population proportion of women who change their nail polish once a week.
chi-square test for independent of attributes.a random sample of students is interviewed to determine if there is an
If a mosquito lands, it will bite you with probability 0.4, and it will never bother you with probability 0.6, independently of other mosquitoes. What is the expected time between successive bites?
test scores on a university admissions test are normally distributed with a mean of 500 and a standard deviation of
For a Shewhart control chart using 3-sigma limits,
Compute a 95% confidence interval for the population mean, based on the sample 1, 2, 3, 4, 5, 6, and 30. Change the number from 30 to 10 and recalculate the confidence interval.
write a brief note to describe the following graphs including its useful to a particular variable or data.a bar graphb
Explain the difference between testing a single mean, testing the difference between two means from an "independent sample" and testing mean differences from a "dependent sample".
1.a manufacturer receives parts from two suppliers. an srs of 400 parts from supplier 1 finds 20 defective. an srs of
consider the following.a calculate the estimate for the standard error of difference between two independent means for
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd