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Returns on a certain business venture, to the nearest $1,000, are known to follow the probability distribution
x
P(x)
-2,000
0.1
-1,000
0
0.2
1,000
2,000
0.3
3,000
a. What is the most likely monetary outcome of the business venture?
b. Is the venture likely to be successful? Explain.
c. What is the long-term average earning of business ventures of this kind? Explain.
d. What is a good measure of the risk involved in a venture of this kind? Why? Compute this measure.
Tthe population standard deviation is not equal to 8 at the 0.05 level of significance. Calculate the value of the test statistic.
A university wants to determine the proportion of students who use a cash card to pay at the university food service. Out of 100 students surveyed, 65 students use a cash card. Estimate the value of the population proportion.
Scarlett Windermere cautiously approaches the expansive gray factory building and experiences a mixture of fear and excitement. The first day of a new consulting assignment always leaves her fighting conflicting emotions. She takes a deep breath, ..
state university uses thousands of fluorescent light bulbs each year. the brand of bulb it currently uses has a mean
Create a 90% confidence interval for true mean amount of cholesterol in chicken eggs.
Assume the chief does not want his officers to cite a car for speeding unless they are 99% sure that it is travelling at 58 miles per hour or faster. What is the minimum estimate of speed at which a car should be cited for speeding?
q1. one hundred policyholders file claims with stressfree insurance. ten of these claims are fraudulent. claims manager
Quality Control A quality inspector checked for imperfections in rolls of fabric for one week. The random variable x represents the number of imperfections found.
The professors mentioned, he was determined to find the correct answer and make a correction during a future broadcast. What are the chances of getting 15 days of rain during the next 30 days?
Assume the population standard deviation is σ+28 and that the population is approximately normal. Construct a 95% confidence interval for the mean price for all the TI-89's being sold over the internet. Select one: A. (145.5, 159.2) B. (97.5, 207...
Briefly remind us of the two variables in your correlation and the operational definition of each. State the null hypothesis and the alternative hypothesis (be sure to clearly label each one) for your correlation.
(a) Based on the rule of thumb in Section 6, would we be justified in using the approximation? (b) Make the approximation and round to four decimals.
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