A) Trustworthy Insurance Co. estimates that a certain home has a 1% chance of burning down in any one year. They calculated that would cost $120,000 to rebuild that home. Use expected values to determine annual insurance premium. Round your answer to the nearest dollar. Answer: To make a profit, annual insurance premium should be […]
A meeting takes place between a diplomat and seventeen government officials. However, ten of the officials are actually spies. The diplomat gives secret information to six of the attendees. Find the following probabilities. Enter your answer as a percent, rounded to the nearest thousandth. a) What is the probability that the diplomat gave secret information […]
You inherit $775,000 and decide to invest it for 55 days compounded daily at 6% annual interest. After the 55 days, you are going to invest your new-found money in a startup business. a) How much interest is earned on this investment? You can either use the Future Value formula or Table 13-2
1. Given a p-cap of 0.16, n = 100, construct a Confidence Interval of 95%. What does the Range created mean? What happends if n changes to 10? What does the new Range mean?
How much money must be invested into an account paying 8% annually, compounded annually, to have $635,000 in 22 years when I retire? a) Calculate the PV (Present Value) using the “Present Value of $1.00” table in your textbook. Remember: To use Table 13-3, you need the Number of Periods and the Interest Rate per Period.
A manager at a corporation believes that the percentage of email at his company that is a spam may be 80%. He examines a random sample of 500 emails received at an email server and finds that 382 of the messages spam, Perform a hypothesis test to determine whether the percentage of emails that are spam differs […]
Each week, you completed a project related to the final project scenario. InWeek 10, you will bring it all together into one cohesive report that contains all the information given in the final project description, along with: A description of your participants A results section that contains all relevant data analyses completed throughout the ten […]
The screening process for detecting a rare disease is not perfect. Researchers have developed a blood test that is considered fairly reliable. It gives a positive reaction in 99.0% of the people who have that disease. However, it erroneously gives a positive reaction in 4.5% of the people who do not have the disease. Answer […]
b. “I suspect that your 10-inch pizzas are, on average, less than 10 inches in size.”H0: p ≥ 10; HA: p < 10H0: μ ≥ 10; HA: μ < 10H0: μ = 10; HA: μ ≠ 10c.“I will have to fine the company since its tablets do not contain an average of 250 mg of […]
Imagine that you are a member of the research firm described in this exercise. Imagine that you have not yet conducted the study, but are simply in the planning phases. Imagine that you will not measure all criterion variables, but will instead focus on just one: symptoms of stress. The university have told you that […]
