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Assume the probability of a household owning a DVD player is 0.80. What is the probability that if 11 households are selected at random, exactly 9 of the households will own DVD players? Calculate the mean and standard deviation for the problem.
Statistics and Probability, Statistics
What is the probability of a value from a normal distribution being between 0.75 standard deviations above the mean and 1.75 standard deviations below the mean? (Round calculations to nearest thousandth (3 digits))
A particular manufacturing process is known to produce 0.3 proportion defective items. Suppose that a sample of 10 items produced by this process are selected at random. (a) The probability that the sample will contain e ...
The local police department must write an average of 5 traffic tickets each day to keep department revenues at budgeted levels. Suppose the number of tickets written per day follows a Poisson distribution with a mean of ...
What considerations do you need to take when considering "time value of money"? Why is the following statement true? "A dollar today is worth more than a dollar tomorrow."
Question: A gamble is said to be fair if each player has the same expected outcome. Suppose we play a game in which the first of two players receives $50 each time the roll of a balanced die comes up with a 1 or 6. Playe ...
Should you perform a log transformation on a categorical (nominal) variable, or can you only do that for continuous variables?
A box contains n white and m black balls. One ball is added randomly, white with probability p and black with probability 1 - p. Then a random ball is taken out from the box. (a) Find the probability that the taken ball ...
The height of woman ages 20-29 is normally distributed , with a mean of 64.3 inches. assuming the standard diviation = 2.4 inches. are you more likely to randomly select 1 woman with a height less than 66.2 inches or are ...
32% of college students say they use credit cards because of the rewards program. You randomly select 10 college students and ask each to name the reason he or she uses credit cards. Find the probability that the number ...
A quiz consists of 70 multiple choice? questions, each with five possible? answers, only one of which is correct. If a student guesses on each? question, what is the mean and standard deviation of the number of correct? ...
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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