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Study Resources (Statistics)

    121) The interval between patients arriving at an outpatient clinic follows an exponential distribution at a rate of 1 patient per hour. What is the probability that a randomly chosen arrival to be more than 1 hour? 122) The interval between patients arriving at an outpatient clinic follows an exponential distribution.
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    51) Referring to Table 5-2, the probability that all 3 businesses fail is ________.   52) Referring to Table 5-2, the probability that at least 1 business succeeds is ________.   53) Referring to Table 5-2, the probability that exactly 1 business succeeds is ________.   54) If X has a binomial distribution with n =.
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    31) The probability that a new advertising campaign will increase sales is assessed as being 0.80. The probability that the cost of developing the new ad campaign can be kept within the original budget allocation is 0.40. Assuming that the two events are independent, the probability that the cost is.
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    21) A survey of banks revealed the following distribution for the interest rate being charged on a home loan (based on a 30-year mortgage with a 10% down payment).   Interest Rate 4.90% to 4.99% 5.00% to 5.09% 5.10% to 5.19% 5.20% to 5.29% 5.30% and above Probability 0.12 0.23 0.24 0.35 0.06   If a bank is selected at random from this distribution, what.
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    101) The online access computer service industry is growing at an extraordinary rate. Current estimates suggest that 75% of the home-based computers have access to online services. Suppose 20 people with home-based computers were randomly and independently sampled. Find the probability that fewer than 10 of those sampled currently have.
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    11) Selection of raffle tickets from a large bowl is an example of A) sampling with replacement. B) sampling without replacement. C) subjective probability. D) None of the above. 12) If two events are independent, what is the probability that they both occur? A) 0 B) 0.50 C) 1.00 D) Cannot be determined from the information given   13) If the.
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    121) Referring to Table 5-6, what is the probability that any particular shift being inspected has less than 5.0 or more than 8.0 bad bulbs.   TABLE 5-7   There are two houses with almost identical characteristics available for investment in two different neighborhoods with drastically different demographic composition. The anticipated gain in value.
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    11) If the outcomes of a random variable follow a Poisson distribution, then their A) mean equals the standard deviation. B) median equals the standard deviation. C) mean equals the variance. D) median equals the variance. 12) What type of probability distribution will the consulting firm most likely employ to analyze the insurance claims in.
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