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One state lottery has 500 prizes of $1, 75 prizes of $10, 15 prizes of $75, 5 prizes of $325, 2 prizes of $1250, and 1 prize of 3000. Assume that 22,000 lottery tickets are issues and sold for $1. What is the lottery's expected profit per ticket?
Statistics and Probability, Statistics
Many high school students take the AP tests in different subject areas. In 2007, of the 144,796 students who took the biology exam 84,199 of them were female. In that same year, of the 211,693 students who took the calcu ...
If you flip five coins what is the probability that you will get at least three heads?
One? study, based on responses from 1,016 randomly selected? teenagers, concluded that 44?% of teenagers cite grades as their greatest source of pressure. Use a 0.05 significance level to test the claim that fewer than h ...
According to the Current Results website, the state of California has a mean annual rainfall of 21 inches, whereas the state of New York has a mean annual rainfall of 55 inches. Assume that the standard deviation for bot ...
1. If you deposited $2,000 today in an account that gave you 5% APR compounded interest, how much would you have in 10 years? 2. Suppose you want $5,000 in your bank account when you graduate in four years, how much woul ...
There are 2 white balls and 8 red balls in an urn. Consider selecting one ball at a time from the urn. What is the probability that the first ball is red and the second ball is also red? Express the probability in fracti ...
In an effort to check the quality of their cell? phones, a manufacturing manager decides to take a random sample of 10 cell phones from? yesterday's production? run, which produced cell phones with serial numbers ranging ...
A company making refrigerators strives for the internal temperature to have a mean of 37.5 degrees with a standard deviation of 0.6 degrees, based on samples of 100. A sample of 100 refrigerators have an average temperat ...
The time required by students to complete an organic chemistry examination is normally-distributed with a mean of µ = 200 minutes and a standard deviation of σ = 20 minutes. Since this particular class is a large lecture ...
We want to estimate the mean weight of all 7th grade boys in a city. It is not known whether the distribution of the weights is normal or not. Suppose we have a random sample of 64 boys from 7th grade from that city and ...
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Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate
Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p
Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As
Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int
Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As