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Samples of size n = 5 are collected from a process every half hour. After 50 samples have been collected, we calculate x‾= 20.0 and s‾= 1.5. Assume that both charts exhibit control and t
A campus club sells 500 raffle tickets at a price of $2 each. The raffle offers one $100 dollar prize, two $50 prizes, and five $25 prizes. What is the expected value of a raffle ticket?
Samples of size n = 5 are collected from a process every half hour. After 50 samples have been collected, we calculate x‾= 20.0 and s‾= 1.5. Assume that both charts exhibit control a
The famous Urn contains 11 red beads and 8 black beads. If 7 beads are drawn without replacement, what is the probability that 5 of them are red?
You toss a fair coin 400 times. Using the normal approximation, find the approximate probability of getting the number of heads that differs from the mean number of heads by at most 10.
A two-tailed test was conducted to determine if the mean age of gymnasts was equal to 16. The test value was 2.04 and alpha = 0.05. What is the p-value?
Show the sampling distribution of , the sample mean average for a sample of 50 unemployed individuals.
In a group of 200 students. 95 passed probability, 85 passed geography, and 30 passed neither. What is the probability that a student selected at random from this group passed both classes?
What is the correct interval of values within one standard deviation of the mean if the mean of a certain set of data is 50 and the standard deviation is 10?
The question the two posts are answering is: Discuss the business uses of time series and forecasting. Use examples to support your answer.
In a family of 4 children: Find the probability that there are 2 girls and 2 boys. What are the odds for having 2 girls and 2 boys?
What is the probability that the value of the portfolio is greater than $2,000? What is the mean and standard deviation of James' portfolio if stocks are not correlated?
Response time at an online site can be modeled with an exponential distribution with a mean service of 5 minutes. John knows this and it is not sure to wait for an answer. What is the probability th
Compute the probability of two or more Web site visitors in a one-minute period. Compute the probability of one or more Web site visitors in a 30-second period.
Where temp is temperature. Find how much she is expected to pay in January. Moreover, obtain the variance and standard deviation of the heating bill.
Compute the probability of receiving three calls in a five-minute interval of time. Compute the probability of receiving exactly 10 calls in 15 minutes.
Use α = .05 and test to see whether the consultant with more experience has the higher population mean service rating. Compute the value of the test statistic.
Assume that Charlotte has two stocks: Disney (D) and Amazon (A). For each of these stocks, the possible percent returns are {0%, 5%, 10%, 15%}. The joint probability of P(d, a) = 0.0625 for all valu
Suppose now David has 5 contracts and now the probability of making a sale is 0.4. Compute the probability that he makes:
From a sample of past Web site visits, management learned that 60% of the visitors to ParFore.com are male and 40% are female. What is the prior probability that the next visitor to the Web site wil
Calculate the mean, variance and standard deviation of Y. Suppose now we have a new random variable X = 2 + 3Y. Construct a 'Bible with the probability distribution of X for each value of Y and X.
What is the probability of a household having income below $25,000? What is the probability of a household headed by someone with a bachelor's degree earning less than $25,000?
If the mean number of small business failures per month is 10, what is the probability that exactly four small businesses will fail during a given month?
Find the mean, variance and standard deviation for the population of the number of persons per household.
Develop a scatter diagram for these data with height as the independent variable. What does the scatter diagram developed in part (a) indicate about the relationship between the two variables?