Questions from Business Statistics

Q: A couple plans to have children until they get a girl,

A couple plans to have children until they get a girl, but they agree that they will not have more than three children even if all are boys. (Assume boys and girls are equally likely.) 1. Create a pro...

Q: A carnival game offers a $100 cash prize for anyone who

A carnival game offers a $100 cash prize for anyone who can break a balloon by throwing a dart at it. It costs $5 to play, and you’re willing to spend up to $20 trying to win. You estimate that you ha...

Q: In a dataset of 1057 New York homes offered for sale,

In a dataset of 1057 New York homes offered for sale, a histogram of the ages looks like this: We drew 1000 samples of 105 homes from this dataset and found the IQR and the range of each sample. Below...

Q: A small software company bids on two contracts and knows it can

A small software company bids on two contracts and knows it can only get one of them. It anticipates a profit of $50,000 if it gets the larger contract and a profit of $20,000 on the smaller contract....

Q: A man buys a racehorse for $20,000 and enters

A man buys a racehorse for $20,000 and enters it in two races. He plans to sell the horse afterward, hoping to make a profit. If the horse wins both races, its value will jump to $100,000. If it wins...

Q: Find the standard deviations of the random variables in Exercise 9 .

Find the standard deviations of the random variables in Exercise 9 .

Q: Find the standard deviations of the random variables in Exercise 10 .

Find the standard deviations of the random variables in Exercise 10 .

Q: Find the standard deviation of the amount you might win drawing a

Find the standard deviation of the amount you might win drawing a card in Exercise 11 .

Q: Find the standard deviation of the amount you might win rolling a

Find the standard deviation of the amount you might win rolling a die in Exercise 12 .

Q: Find the standard deviation of the number of children the couple in

Find the standard deviation of the number of children the couple in Exercise 13 may have.