Weighted coin that lands heads up
Someone has a weighted coin that lands heads up with a probability of 2/3 andtails up with aprobability of 1/3. If the coin comes up heads you pay $1 dollar ; if the coin comes up tails you receive $1.50. What is the expected value for this game?
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An industrial oven used to cure sand cores for a factory manufacturing engine blocks for small cars is able to maintain fairly constant temperatures.
Steve Goodman, production foreman for the Florida gold Fruit Company, estimates that the average sale of oranges is 4,700 and the standard deviation is 500 oranges. Sales follow a normal distribution.
The probability that the student knows the answer is .80 and the probability that the student will guess is .20. Assume that if the student guesses, the probability of selecting the correct answer is .25. If the student correctly answers a questio
In a city, 50% of people have Master cards, 60% have Visa cards, and 43% have both. What percentage of people have at least one of the two types of credit cards (Master, Visa)?
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A statistics professor plans classes so carefully that the lengths of her classes are uniformly distributed between 49.0 and 59.0 minutes.
Find the probability that a given class period runs between 51.25 and 51.75 minutes.
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