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Why is the central limit theorem such a powerful tool? Can it really be applied in a setting that has many people under study?
Statistics and Probability, Statistics
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The random variable X takes on the values 5, 20, 30, and 200 with probabilites 0.60, 0.30, 0.08, and 0.02 respectively. Use the statistical capacity of your calculator to find the expected value of X rounded to one p ...
A coin is randomly picked from a collection of 10 coins, the ith coin having a probabiliity i/10 of coming up heads. The coin in then flipped repeatedly until a head appears. Let X be the number of flips necessary. Find ...
You are the foreman of the Bar-S cattle ranch in Colorado. A neighboring ranch has calves for sale, and you are going to buy some calves to add to the Bar-S herd. How much should a healthy calf weigh? Let x be the age ...
1. For a normal distribution with μ = 500 and σ = 100, a. What is the percentile rank for X = 550? b. What is the percentile rank for X = 650? c. What is the percentile rank for X = 450? 2. For a normal distribution with ...
How does a market-maker decide the edge (offset) required to perform an options trade? Explain why this edge would be different for options of different strikes as well as for option combinations?
The time to complete 1 construction project for company A is exponentially distributed with a mean of 1 year. Therefore: (a) What is the probability that a project will be finished in one and half years? (b) What is the ...
Only 35% of the drivers in a particular city wear seat belts. Suppose that 20 drivers are stopped at random what is the probability that exactly four are wearing a seatbelt? (Round your answer to 4 decimal places)
Analysis of variance (ANOVA) An investigator compares the difference in the amount of 20% sucrose solution removed by pollinators between unadulterated solution and solutions with 50, 100, 150, and 200 parts per million ...
Describe the theoretical problems of ethics (3), the objectives to solving them.
The December CBOT Treasury bond futures contract is quoted at 92-19. If annual interest rates go up by 1.50 percentage points, what is the gain or loss on the futures contract? (Assume a $1,000 par value, and round to th ...
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