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A coin is tossed 20 times. A person, who claims to have ESP is asked to predict the outcome of each flip in advance. She predicts correctly on 14 tosses. What is the probability of being correct 14 or more times by guessing? Does this probabiity seem to verify her claim?
Using this information, calculate Blpha risk (probability of Type II error) if the true population mean really is 79.
If gambler rolls two dice and gets sum of four, he wins $10; and if he gets sum of three, he wins $25. Cost to play game is $5. What is expectation of this game?
How large should the sample be if I want to maintain a 95 percent level of confidence and suffer a maximum error of $2.00 in my estimate of the highest price consumers are willing to pay?
Use MegaStat's output for multiple regression to determine the multiple regression equation
Develop a mathematical programming model and solve. Discuss your results [total profits, total costs, etc].
Plot a scatter diagram of the results with Depth of Water as the independent variable.
Suppose the random variable x is best described by a normal distribution with µ = 24 and σ = 2.7. Find the z-score that corresponds to each of the following x values.
What is 95% confidence interval estimate for average number of years served by all Supreme Court justices?
Use the binomial distribution formula to calculate the probability that a) out of 5 adults, none is concerned that employers are monitoring phone calls.
Based on these data, what is the probability that next Christmas will be dry and based on the data,what is the probability that next Christmas will be rainy or cloudy and dry?
Forecast sales for the next day using a three-day weighted moving average where the weights are 3, 1, and 1 (the highest weight is for the most recent number).
To test whether there is significant mean difference between two groups using independent sample t test.
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