Statistics

Probability of Landing Number 10 on Two Dices

Question1.    A drug is reported to benefit 40% of the patients who take it. If 6 patients take the drug, what is the probability that 4 or more patients will benefi...

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Probability of Landing Number Greater Than 2 in Playing Dice

Question1.    If a die is rolled one time, find the probability of getting a number greater than 2.  A. 2      B. -1    &nbsp...

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Probability of Second Contestant Winning in the TV Show ‘The Price is Right’

QuestionIn the TV game show The Price is Right, contestants have to spin a wheel with a hundred amounts ranging from 1 cent to 100 cents in equal one cent increments. The contestan...

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Probability Of Stock Having -90% Return Next Year

Question Suppose that, historically, a stock has a mean annual return of 10% and the standard deviation of its annual returns is 0.50. Assuming that the stock’s return is no...

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Running Appropriate Descriptive Statistics on Given Variables

Question Run the APPROPRIATE descriptive statistics on the variables Earn5yr, Test2005, Grad2005, SkillVal, STEM2010, FacSal05, FamIncL and FirstGen, and report them in a table. ...

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Probability Of Stock Having 60% Return Next Year

Question Consider the stock in the previous question. Assuming that the stock’s return is normally distributed, what is the probability that the stock will return more than ...

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Sales Forecast Using Regression Function

Question Year   1988 1989   1990 1991 1992 1993 1994 1995 1996 Sales   328 46...

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Probability of Success of Happy Harrys Hamburgers

Question Happy Harry's Hamburgers recently commissioned a top tier consulting company to develop a new location selection process. However, after receiving the first invoice from ...

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Sales Forecast Using Simple Moving Average

Question Year   1988 1989   1990 1991 1992 1993 1994 1995 1996 Sales   328 46...

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Sample Testing of a New Drug for Pain Management

QuestionA new drug designed to control neuropathic pain needs to be tested using pain score measurements (on a scale of 0 – 10; 0 = no pain). Clinicians think that a standard...

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Sampling And Data Analysis For Qualitative And Quantitative Research

QuestionHow important is the sampling methods and data analysis techniques in both qualitative and quantitative research?SummaryThe question belongs to Statistics and it discusses ...

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Problem on standard deviation

  Q6  The airport branch of a car rental company maintains a fleet of 50 SUVs. The interarrival time between requests for an SUV is 2.4 hours, on average, with a standar...

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