A coin is tossed four times. The probability is ¼ or 0.25 that all four tosses will result in a head face up. Answer Correct Answer: False A firm offers routine physical examinations as part of a health service program for its employees. The exams showed that 8% of the employees needed corrective shoes‚ 15% needed major dental work and 3% needed both corrective shoes and major dental work. What is the probability that an employee selected at random will need either corrective shoes
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PROBABILITY AND STATISTICS Lab‚ Seminar‚ Lecture 4. Behavior of the sample average X-bar The topic of 4th seminar&lab is the average of the population that has a certain characteristic. This average is the population parameter of interest‚ denoted by the greek letter mu. We estimate this parameter with the statistic x-bar‚ the average in the sample. Probability and statistics - Karol Flisikowski X-bar Definition 1 x xi n i 1 Probability and statistics - Karol Flisikowski
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outcomes is called a(n) sample space. event. experiment. probability. 3. Question : If two events are independent‚ then the probability of their intersection is represented by: P(A ? B) = P(A) + P(B) P(A ? B) = 0 P(A ? B) = P(A) * P(B) P(A ? B) = P(A) - P(B) P(A ? B) = P(A) * P(A | B) 4. Question : A(n) __________ is a measure of the chance that an uncertain event will occur. experiment sample space probability complement population 5. Question : The price-to-earning
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measures‚ counting rules and classical probability distribution. Learning Outcomes of the Course On completion of the module‚ students should be able to ILO1. distinguish between population and sample; apply the different sampling techniques to select a sample; ILO2. compute central tendency measures as the arithmetic mean‚ median and mode; ILO3. compute dispersion measures as the range‚ interquartile range‚ standard deviation and variance; ILO4. define probability of a simple event; correctly use the
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The time at which the mailman delivers the mail follows a normal distribution with a mean of 2:00PM and a standard deviation of 15 minutes (20 pts) a) What is the probability that the mail will arrive before 1:50PM? b) What is the probability that the mail will arrive after 2:30PM? c) What is the probability that the mail will arrive between 1:40PM and 2:20PM? d) Between what two times (equally before the mean and equally after the mean) accounts for the mail being delivered
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Question 1) 1) Discuss puzzles and anomalies 2) Discuss three forms of market efficiency Marketefficiency is a measure of the availability(to all participants ina market) of the information that provides maximum opportunities tobuyers and sellers to effect transactions with minimum transactioncosts. Types of Efficiency: Operational efficiency: It refers to thecost to buyers and sellers of transactions in securities on theexchange. This may be promoted by creating as much competitionbetween
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respective probability. Revenue was also highlighted in the question. Demand one is $2 for one gallon‚ demand one for two gallons is $2-0.5=1.5 in which 0.5 is the opportunity cost‚ demand three for three gallon is 2-0.5-0.5=1. Same method is followed for demand two and three. Expected revenue of store one at one gallon is calculated by Demand one at one gallon*probability at one gallon + demand two at one gallon * probability at two gallons + demand three at one gallon * probability at three gallons
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7) Data from a small bookstore are shown in the accompanying table. The manager wants to predict Sales from Number of Sales People Working. Number of sales people working | Sales (in $1000) | 4 | 12 | 5 | 13 | 8 | 15 | 10 | 16 | 12 | 20 | 12 | 22 | 14 | 22 | 16 | 25 | 18 | 25 | 20 | 28 | x=11.9 | y=19.8 | SD(x)=5.30 | SD(y)=5.53 | a) Find the slope estimate‚ b1. Use technology or the formula below to find the slope. b1=rsysx Enter x‚y Data in TI-84 under STAT > STAT
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30 minutes appointments. Some of the patients take more or less than 30 minutes depending upon the type of dental work to be done. The following table shows the various categories of work‚ their probabilities and the time actually needed to complete the work category Time required in mins Probability Filling Crowning Cleaning Extraction Checkup 45 60 15 45 15 0.25 0.15 0.25 0.10 0.25 Simulate the dentist’s clinic for about four hours and determine the average waiting time for
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Homework 4.3 #21 43% of adults in the US receive fewer than 5 phone calls a day. In a random sample of 7 adults‚ what is the probability that the number receiving fewer than five calls a day is (a) exactly 3 (b) at least 3 (c) more than 3? n p 7 0.43 x P(Exactly x) P(At most x) P(At least x) 0 0.0195 0.0195 1.0000 1 0.1032 0.1228 0.9805 2 0.2336 0.3564 0.8772 3 0.2937 0.6502 0.6436 4 0.2216 0.8718 0.3498 5 0.1003 0.9721 0.1282 6 0.0252 0.9973 0.0279 7 0.0027 1.0000 0.0027
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