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A fair die is rolled until win or loss occurs:
For k=1 to 5: if a 6 occurs on the kth roll you win N dollars and game ends; if a number<k occurs you lose $10 and the game ends; otherwise you roll again.
For k>5: if a 6 occurs on the kth roll you win N dollars and the game ends; if a number<5 occurs you lose $10 and the game ends; if a 5 occurs you roll again.
what value should N have for this game to be fair?
Determine a 90% confidence interval for the mean weight of all university male first-year students.
A raffle offers a first prize of $1000 2 second prizes of $300 and 20 third prizes of $10 each. If 15000 tickets are sold at 75 cents each, find the expected winnings (IN CENTS) for a person buying one ticket?
As a condition of employment, Fashion Industries applicants must pass a drug test. Of the last 220 applicants 14 failed the test. Develop a 99 percent confidence interval for the proportion of applicants that fail the test.
We want to estimate the population mean within 5, with a 99% confidence level. The population std dev is estimated to be 15. How large is the required sample size?
The DPMO for process is 860. Find the approximate Six Sigma level of the process?
How many subjects would you approximately need to reduce the length of the 95% confidence interval to 2 units?
Linda would like to maintain a 90% service level. what safety stock level do you recommend for BX-5?
Correlation based on Scatter Plot - Draw the scatter plot for the variables.
The average price of a sample of 12 bottles of diet salad dressing taken from different stores is $1.43. The standard deviation is $0.09. The average price of a sample of 16 low-calorie frozen desserts is $1.03.
Does all statistical data have a mean, median, or mode? Why? When is the mean the best measure of central tendency? When is the median the best measure of central tendency?
A normal distributed population has a mean of 250 pounds and a standard deviation of 10 pounds. Given n = 20, what is the probability that this sample will have a mean value between 245 and 255 pounds?
Multiple choice questions based on regression - A regression and correlation analysis resulted in the following information
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