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Suppose a single die is rolled once. You win $5 if a 1 or a 3 comes up, win $12 if a 5 comes up and lose $10 if a 2, 4, or 6 come up.
a) Complete the table that gives the expected values of each event occurring.
Event x (random variable) P(x) xP(x)Rolling a 1 +5Rolling a 2 -10Rolling a 3 +5Rolling a 4 -10Rolling a 5 +12Rolling a 6 -10
b) Use your table to find the expected value of the game.
c) What does the expected value tell you about the game?
For a standard normal curve, find the z-score that separates the bottom 90% from the top 10%.
However, 2% of the Dallas clocks are defective. If you go shopping and buy a clock from this company, what is the probability that you buy a defective clock?
Calculate the expected loss to each person prior to and subsequent to entering into a pooling arrangement. What happens to the standard deviation of the distribution of losses to each individuals subsequent to the pooling arrangement?
A nursing school wants to estimate the true mean annual income of its alumni. It randomly samples 120 of its alumni. The mean annual income was $58,700 with a standard deviation of $1,500.
Findout probabilities utilizing standard normal distribution. If the debt is normally distributed with a standard deviation.
A random sampling of financial analysts was asked to provide forecasts of earnings per share of a corporation's stock for the next year. The results are summarized as follows:
Combine the following observations with the above data: 34, 46, 92, 51, 65, 76, 53, 99, 40, 46. Does the combined data set look normal?
Give an example of a function using a set of at least 4 ordered pairs. The domain will be any four integers between 0 and +10. The range will be any four integers between -12 and 5.
The fixed monthly cost of operating the production facility is $3000. How many units of part # 2206 have to be sold in a month to break-even?
Determine the probability that a student will complete the exam in more than 60 minutes but less than 75 minutes? Determine the probability of completing the exam in one hour or less?
Using the following 12 numbers (12, 34, 23, 10, 9, 45, 14, 34, 12, 13, 13, 35), calculate 1. the median 2. the mode 3. the mean
A large internet retailer is studying the lead time (elapsed time between the time when the order is placed and the time it is filed). The table below gives the lead times (in days) for a random sample of recent orders.
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