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Let x be the damage incurred(in $) in a certain type of accident during a given year. Possible X values are 0, 1000, 5000, and 10000, with probabilities .8, .1, .08, and .02, respectively. A particular company offers a 500$ deductible policy. If the company wishes its expected profit to be $100, what premium amount should it charge?
In a recent study 90 percent of the homes in the United States were found to have largescreen TVs. In a sample of nine homes, what is the probability that:
What is the expected value of the sampling distribution model for the proportion of 480 freshmen that will return to the same school for their sophomore year?
The data follow. Males Females 27 25 25 29 19 18 10 23 16 20 22 15 14 19 (a) What statistical test should be used to analyze these data?
Multiple choice questions based on multiple regression - Find the coefficient of determination for the above model
What is the probability that none of these crimes will be solved? What is the probability that at least one of these crimes will be solved?
The company statistician has reported the mean number of man-hours lost per month but did not keep a record of the total sum. Should the manager order the study repeated to obtain the desired information? Explain your answer clearly.
Promotion occurs on average every 10 days in a large corporation. What is the probability that the next promotion will occur within:
The Speedy Oil Change Company advertised a 15-minute wait for an oil change. A sample of 23 oil changes showed a mean time of 16.5 minutes and a standard deviation of 4.3 minutes.
The heights of adults in one town have a mean of 66.3 inches and a standard deviation of 3.3 inches. What can you conclude from Chebychev's theorem about the percentage of adults in the town whose heights are between 59.7 and 72.9 inches..
To obtain the probability that the mean wage of 75 randomly selected workers will exceed $43,000
Suppose we compare two population means, μ 1 - μ 2 . In each case, indicate how μ 1 relates to μ 2 :
A normal distribution with a mean of 33 oz. and a standard deviation of 0.8 oz. What proportion of packets are underweight (i.e., weigh less than 32 oz.)?
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