How much should you be willing to pay for deal
You have been offered a business deal. You estimate that there is a 3% chance of making $100,000; 7% chance of making $40,000; a 20% chance of making $10,000; and 70% chance of making $0. How much should you be willing to pay for this deal?
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A marketing firm wants to target people who eat breakfast by sending out a new product. According to recent statistics 60% of people eat breakfast. If the marketer sends out samples to 16 people selected at random, (Show all work) (Use Binomial Di
Suppose a sample of 380 U.S. workers is collected in 2006 to determine whether union efforts to organize have increased union membership. a)Compute the value of the test statistic (to 3 decimals)
The average height of flowering cherry trees in a certain nursery is 9.5 feet. If the heights are normally distributed with a standard deviation of 1.3 feet, find the probability that a tree is less than 11.5 feet tall.
This semester a sample of 45 students revealed an average cost of books of $370 per student. The Dean of Students believes that the costs are greater this semester. What is the test value for this hypothesis?
The manager of the local grocery store has determined that, on the average, 4 customers use the service desk every half-hour. Assume that the number of customers using the service desk has a Poisson distribution. What is the probability that durin
Which of the following is a correct statement about a probability?
A study was conducted to determine if there was a relationship between the prices a non-member of a book club paid for various publications and the prices that a member paid for the same publications. The data gathered is shown below. Compute the
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