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A contractor is considering a sale that promises a profit of $32,000 with a probability of 0.7 or a loss (due to bad weather, strikes, and such) of $9000 with a probability of 0.3. What is the expected profit?
Seventy-five percent of households say they woud feel secure if they had $50,000 in savings. You randomly select 8 households and ask them if they would feel secure if they had $50,000 in savings.
The sample mean and the standard deviation were determined to be 120 and 40 respectively. The standard error of the mean is?
Draw the scatter diagram. Does it appear that x and y are related? If so, how? Test to determine whether there is evidence of a linear relationship
Assume the population is normally distributed, the confidence level is 95%, n = 12, and σ is unknown.
Income Trevor is interested in purchasing the local hardware/sporting goods store in the small town of Dove Creek, Montana.
The Wilcoxon signed rank statistic, The mean for the Wilcoxon signed rank test and The P-value for the Wilcoxon signed rank test
Print Media Advertising (PMA) has been given a contract to market Buzz Cola via newspaper ads in a major southern newspaper. Full-page ads in the weekday editions (Monday through Saturday) cost $2000, whereas on Sunday a full-page ad costs $8000.
Suppose you were to cut up the directory and pull out one listing at random to contact.
Test the manager's claim at 5% and 1% significance level tests.
Your financial advisor sees this and tells you there is a 100% chance XYZ stock will gain over the 2-month period. Would you continue to use this financial advisor? Explain.
The number of children, x, belonging to each of eight families registering for swimming was 2, 2, 2, 4, 2, 1, 2, 2. Find the mean, x. (Give answer correct to 2 decimal places.)
Determine the range, variance, and standard deviation for the sample data.
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