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Your company produces two varieties of self-sealing stem bolts, standard and deluxe. In one year you can produce 365 bolts (of either type). Based on last years sales you might expect to sell four standard bolts for each deluxe sold.
Find the probability that more than 300 standard bolts out of 365 orders. (2 pts)
Now find the same probability using the normal approximation for the binomial. (2 pts)
Find the 10th percentile. (This means the probability of less than X of the 365 orders would be for standard bolts) (2 pts)
Now find and interpret the 90th percentile.
Suppose that students in a particular school are all very competent. For each individual, the probability that they will pass the proficiency exam (independent of thier classmates) is 0.99
when analysis of data reveals differential effects of one factor across levels of another factor what is this
The probability of an randomly selected person quits a team is 0.125. Assume the team has n members. Determine the smallest n that the team needs to have if the probability of the team has at least 20 members left is 0.9.
the current price of a non-dividend paying stock is 40 and the continuously compounded risk-free rate of return is 8.
A player of a video game is confronted with a series of opponents and has an 79% probability of defeating each one. Success with any opponent is independent of previous encounters. The player continues to contest opponents until defeated
You notice in your introductory psychology class that more women tend to sit up front, and more men in the back. To determine wheather this difference is significant, you collect data on the seating preferences for the students in your class. The dat..
Tests it and then puts it to one side. this is repeated 5 times. What is the probabilty that none of the five tested were faulty?
The current advertising campaign for a major automobile brand would be changed if fewer than 70 percent of the consumers like it.
A large discount chain compares the performance of its credit managers in Ohio and Illinois by comparing the mean dollar amounts owed by customers with delinquent charge accounts in these two states.
Determine the critical regions for test in terms of the sample mean, what is the probability of a type II error for this test if the true mean is in fact 195 mg and what impact would reducing the sample size have on the type I and type II errors?
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
Using the simple test of independence (described in the lecture), decide if the events high calorie and high fiber are independent or dependent. Show your work.
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