Mutually exclusive and independent events
Discuss the difference between mutually exclusive and independent events.
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Throughout an 80 hour period, there are 7 unplanned work stoppages on production line. Determine the rate per hour at which stoppages occur.
The tool shop has 8 power screw drivers and two have a short. A foreman takes 4 of screw drivers to his crew. That is the probability that fewer than two have a short?
A group of n people of different heights are randomly ordered. Given that the very shortest person is first and the very tallest person is last, what is the probability the intermediate one are ordered by increasing height?
A venture capital company feels that rate of return (X) on proposed investment is approximately normally distributed with mean 30% and standard deviation 10%.
Conceptually, why does it make sense that the t critical values are always as large or larger than z critical values for the same level of confidence?
Researchers have discovered a new genetic marker for a form of cancer. Ten percent of the overall population carry this marker, and of all the people who develop this cancer, 33% carry the marker.
Under what circumstances does the PPP theory explain how exchange rates are determined and why is it not totally accurate all the time?
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