Let X and Y be continuous random variables with joint pdf fxy (x, y) = 3x, 0sy

Q: The promoter of a football game is concerned that it will rain. She has the option of spending…

A: Given: spending ​$14,040 on insurance that will pay ​$39,000 if it rains.Revenue from the game will…

Q: The probability that a visitor to an animal shelter will adopt a dog is 0.10. Out of 9 visits, what…

A: Given:Probability of adopting a dog, P(adopting a dog)=0.10Number of visits, n=9To find:Probability…

Q: A lottery has a grand prize of $1,000,000, 2 runner-up prizes of $100,000 each, 6 third-place prizes…

A: Probability refers that it is a a quantitative measure of the uncertainty associated with an event…

Q: In any year, the weather can inflict storm damage to a home. From year to year, the damage is…

A: We have,

Q: Kate recently invested in real estate with the intention of selling the property one year from…

A: Investing refers to the process of allocating resources, typically money, with the hope of later…

Q: Assume that the relationship between test scores and the student-teacher ratio can be modeled as a…

A: Given The test scores and student-teacher ratio are modeled as a linear function this implies the…

Q: n people guess an integer between 1 and 100, and the winner is the player whose guess is closest to…

A: They can choose the number between 1 and 100 The least  number they can choose = 2 the largest…

Q: A stock has a correlation with the market of .45. The standard deviation of the market is 21%, and…

A: Covariance is a statistical tool that is used to determine the relationship between the movement of…

Q: What is a controllable source of budget variance

A: Budget variance is a measure used by governments,companies and individual  to find difference in…

Q: Suppose that a high school student is preparing to take the SAT exam. Explain why his or her…

A: It's a variable whose values are determined by the results of a random event. Random variable,…

Q: Find the intervals on which f(x) is increasing, the intervals on which f(x) is decreasing, and the…

A: To find the intervals on which f(x) = x3+10x+9 increasing or decreasing , We will first find out the…

Q: You are considering an investment in a residential investment property that is with a current…

A: Detailed explanation:Why PERT with a Long Right Tail is Best (b)Realistic Occupancy Fluctuations:…

Q: a. A company produces lightbulbs whose life follows a normal distribution, with mean 1200 hours and…

A: a. Given:- Mean=1200 hours Standard deviation=250 hours To calculate:- Probability that lifetime…

Q: What are the three Gauss–Markov conditions? Explain.

A: According to Gauss-Markov theorem, when certain conditions are met, the ordinary least square…

Q: [5] A contractor estimates the probabilities for the number of days required to com- plete a certain…

A: Standard deviation is a metric that measures the amount of variation (dispersion, spread, etc.) from…

Q: 3. Demeter has 100 acres of land on which she can plant wheat or rice. The following table shows the…

A: Answer - Given in the question- Utility function over income U(w) = lnW Probability of wet growing…

Q: If the model y = ßo + ß1x1 + ß2x2 + v satisfies the first Gauss-Markov assumptions, then v has: a. a…

A: ( here x is realisation of X and X is(1 x1 x2) matrix)

Q: Managers of the restaurant, Nice Pizzeria@Nola, have to plan for the number of pizzas they want to…

A: Profit is a financial metric that represents the economic advantage obtained when the revenue…

Q: 5.100 Tossing a die. You are tossing a balanced die that has probability 1/6 of coming up 1 on each…

A: The probability of coming up 1 on each toss is (probability of success), p=1/6 The number of tosses…

Hypothesis Testing

In statistics, there are two ways to calculate the sample data. One is descriptive statistics and the other is inferential statistics.  In descriptive statistics, all of the information is defined through graphs and charts. In inferential statistics, it allows one to test the hypothesis and it is always used to predict the data. Inferential statistics has two main areas: estimating parameters and hypothesis testing. A hypothesis is a statement about the unknown parameter of the population which we want to verify from the information available from the sample. The premise may or may not be true. The estimation of the whole population would be a reasonable way of deciding if the statistical hypothesis is valid. There are two types of hypotheses. They are null hypothesis and alternative hypothesis.