c. What is the probability that the outcome will be at least $18,000?Note: Do not round intermediate calculations. Round your answer to 4 decimal places.Probabilityd. What is the probability that the outcome will be less than $43,020?Note: Do not round intermediate calculations. Round your answer to 4 decimal places.Probability0.7549$42,000?e. What is the probability that the outcome will be less than $28,000 or greater thanNote: Do not round intermediate calculations. Round your answer to 4 decimal places.Probability Problem 13-20 (Algo) Probability analysis with a normal curve distribution [LO13-4]When returns from a project can be assumed to be normally distributed, such as those shown in Figure 13-6 (represented by asymmetrical, bell-shaped curve), the areas under the curve can be determined from statistical tables based on standard deviations. Forexample, 68.26 percent of the distribution will fall within one standard deviation of the expected value (D 10) Similarly, 95.44percent will fall within two standard deviations (D20), and so on. An abbreviated table of areas under the normal curve is shownnext.Number of a's fromExpected Value0.501.001.151.502.43Probabilityor0.19150.34130.37490.43320.4925and-0.3830Probability0.68260.7498Assume Project A has an expected value of $35,000 and a standard deviation (a) of $7,000a. What is the probability that the outcome will be between $31,500 and $38,500?Note: Do not round intermediate calculations. Round your answer to 4 decimal places.0.86640.9850b. What is the probability that the outcome will be between $28,000 and $42,000?Note: Do not round intermediate calculations. Round your answer to 4 decimal places.

Given: Project A has an expected value of $35,000 and a standard deviation of $7000 About 68.26% of…

Answered: When returns from a project can be…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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In a study in pre-term infants, a group where breast feeding is difficult because the mother gets home before the baby does, you run a logistic regression model where the independent variable is the mother's age and the dependent variable is whether the infant was breast feeding at discharge from the hospital. If the log odds for breast feeding for a 20 year old mom was -3.654 + (20) * 0.157 = -0.514, compute the predicted probability for breast feeding for a 20 year old mom. 0.598 / (1+0.598) O 0.598 0.598 / (1 - 0.598) -0.514 / (1+0.598)
Recall that Benford's Law claims that numbers chosen from very large data files tend to have "1" as the first nonzero digit disproportionately often. In fact, research has shown that if you randomly draw a number from a very large data file, the probability of getting a number with "1" as the leading digit is about 0.301. Now suppose you are an auditor for a very large corporation. The revenue report involves millions of numbers in a large computer file. Let us say you took a random sample of n = 221 numerical entries from the file and r = 50 of the entries had a first nonzero digit of 1. Let p represent the population proportion of all numbers in the corporate file that have a first nonzero digit of 1. (i) Test the claim that p is less than 0.301. Use α = 0.05. (a) What is the level of significance? State the null and alternate hypotheses. Ho: P = 0.301; H₁: p = 0.301 Ho: P 0.301 Ho: P = 0.301; H₁: p 5 and nq > 5. O The Student's t, since np 5 and nq > 5. What is the value of the…
Recall that Benford's Law claims that numbers chosen from very large data files tend to have "1" as the first nonzero digit disproportionately often. In fact, research has shown that if you randomly draw a number from a very large data file, the probability of getting a number with "1" as the leading digit is about 0.301. Now suppose you are the auditor for a very large corporation. The revenue file contains millions of numbers in a large computer data bank. You draw a random sample of n = 226 numbers from this file and r = 87 have a first nonzero digit of 1. Let p represent the population proportion of all numbers in the computer file that have a leading digit of 1. 1) Test the claim that p is more than 0.301. Use α = 0.10. 2) What is the value of the sample test statistic? (Round your answer to two decimal places.) 3) Find the P-value of the test statistic. (Round your answer to four decimal places.) 4) If p is in fact larger than 0.301, it would seem there are too many numbers in…
Answer #2
Recall that Benford's Law claims that numbers chosen from very large data files tend to have "1" as the first nonzero digit disproportionately often. In fact, research has shown that if you randomly draw a number from a very large data file, the probability of getting a number with "1" as the leading digit is about 0.301. Now suppose you are an auditor for a very large corporation. The revenue report involves millions of numbers in a large computer file. Let us say you took a random sample of n = 223 numerical entries from the file and r = 48 of the entries had a first nonzero digit of 1. Let p represent the population proportion of all numbers in the corporate file that have a first nonzero digit of 1.(i) Test the claim that p is less than 0.301. Use ? = 0.05. (a) What is the level of significance?State the null and alternate hypotheses. H0: p < 0.301; H1: p = 0.301 H0: p = 0.301; H1: p > 0.301 H0: p = 0.301; H1: p < 0.301 H0: p = 0.301; H1: p ≠ 0.301 (b) What sampling…
Consider the scenario ai from the previous question. Suppose you take an SRS of 50 avocados and find that the mean is 1.1 inches, which yields a p-value of 0.0542. What conclusion would you draw at the =0.05 level? At the =0.10level?
A family purchases a 2000 square foot home and plans to make extensions totalling 500 square feet. The house currently has a pool, and a real estate agent has reported that the house is in excellent condition. However, the house does not have a view, and this will not change as a result of the extensions. According to the results in column (1), what is the expected DOLLAR increase in the price of the home due to the planned extensions?
Recall that Benford's Law claims that numbers chosen from very large data files tend to have "1" as the first nonzero digit disproportionately often. In fact, research has shown that if you randomly draw a number from a very large data file, the probability of getting a number with "1" as the leading digit is about 0.301. Now suppose you are an auditor for a very large corporation. The revenue report involves millions of numbers in a large computer file. Let us say you took a random sample of n = 225 numerical entries from the file and r = 51 of the entries had a first nonzero digit of 1. Let p represent the population proportion of all numbers in the corporate file that have a first nonzero digit of 1.(i) Test the claim that p is less than 0.301. Use ? = 0.05.
Recall that Benford's Law claims that numbers chosen from very large data files tend to have "1" as the first nonzero digit disproportionately often. In fact, research has shown that if you randomly draw a number from a very large data file, the probability of getting a number with "1" as the leading digit is about 0.301. Now suppose you are an auditor for a very large corporation. The revenue report involves millions of numbers in a large computer file. Let us say you took a random sample of n = 220 numerical entries from the file and r = 49 of the entries had a first nonzero digit of 1. Let p represent the population proportion of all numbers in the corporate file that have a first nonzero digit of 1. A) What is the value of the sample test statistic? (Round your answer to two decimal places.)B) Find the P-value of the test statistic. (Round your answer to four decimal places.)
Recall that Benford's Law claims that numbers chosen from very large data files tend to have "1" as the first nonzero digit disproportionately often. In fact, research has shown that if you randomly draw a number from a very large data file, the probability of getting a number with "1" as the leading digit is about 0.301. Now suppose you are an auditor for a very large corporation. The revenue report involves millions of numbers in a large computer file. Let us say you took a random sample of n = 220 numerical entries from the file and r = 49 of the entries had a first nonzero digit of 1. Let p represent the population proportion of all numbers in the corporate file that have a first nonzero digit of 1.
Consider the rate of return of stocks ABC and XYZ. Year 1 2 SAWN T 3 4 5 FABC 24% 10 17 4 1 ABC XYZ a. Calculate the arithmetic average return on these stocks over the sample period. (Round your answers to 2 decimal places.) rxyz 34% 12 18 1 -9 Arithmetic Average ABC XYZ % % b. Which stock has greater dispersion around the mean return?
Benford's Law claims that numbers chosen from very large data files tend to have "1" as the first nonzero digit disproportionately often. In fact, research has shown that if you randomly draw a number from a very large data file, the probability of getting a number with "1" as the leading digit is about 0.301. Suppose you are an auditor for a very large corporation. The revenue report involves millions of numbers in a large computer file. Let us say you took a random sample of n = 250 numerical entries from the file and r = 60 of the entries had a first nonzero digit of 1. Let p represent the population proportion of all numbers in the corporate file that have a first nonzero digit of 1. Test the claim that p is less than 0.301 by using α = 0.01. What does the area of the sampling distribution corresponding to your P-value look like? a. The area in the right tail of the standard normal curve. b. The area not including the right tail of the standard normal curve.…

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