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A company is bidding on three contracts with values of $20 million, $80 million and $50 million with corresponding win probabilities of ½ ¼ and ¾.
a) Determine and plot the probability mass function and probability distribution function of the contract award amount (in millions of dollars).
b) What is the probability of being awarded at least $100 million?
c) What is the mean, variance & standard deviation of contract award amount (in millions of dollars)?
A researcher has a series of Likert-scale items and a measure of frequency of absenteeism. He uses each of the Likert-scaled items in a separate bivariate correlation with absenteeism without testing for the assumptions of linear relationships. Is th..
In the history class the mean score was 76 with standard deviation 3.
What happens to the boundaries for the critical regions?
Real estate agents always say "location, location, location" is the most important thing in buying a house. We want to know if the sales prices of homes in two neighborhoods are similar. A random sample is taken from each neighborhood. The prices ..
What is the expected number of Republicans who will win office in the coming election?
Suppose that the number of calories in McDonald's Egg McMuffin is normally distributed random variable with mean of 290 calories and standard deviation of 14 calories.
If the mean IQ of all Omega University students was equal to 115, and a small random sample of students was selected from the population whose mean IQ was 120, then this difference of 5 points would equal the:
Find the most powerful predictor among the six independent variables using regression.
In chi-square goodness-of-fit test when there is close agreement between observed frequency and expected frequency, chi-square test value will be small.
You will be graded on accuracy, completeness (addressing each point above), and effectiveness (utility, ease of reading).
Please address the following question: When is the mean the best measure of central tendency? When is the median the best measure of central tendency?
The average age of the students in the sample was 23 with a standard deviation of 3.5: a) Formulate the hypotheses for this problem.
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