Q: Use Excel to generate descriptive statistics for the four profit values in Q7 and calculate the 95% confidence interval for the true expected value of the total profit. If this interval has the form [$X, $Y], what is the value of X, expressed in millions? Choose the closest from the answers below. or Q: Compute the 95% confidence interval…
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Consider the decision to build R=88 regular and L=16 luxury apartments. Using the four random instances of the demand for regular apartments from Q5 and four random instances of the demand for luxury apartments from Q6, calculate the four corresponding total profit values obtained from sales of both regular and luxury apartments under this decision. Based on this four values, estimate the likelihood of the total profit to be above $52 million. Choose the closest from the answers below.
Q: Consider the decision to build R=88 regular and L=16 luxury apartments. Using the four random instances of the demand for regular apartments from Q5 and four random instances of the demand for luxury apartments from Q6, calculate the four corresponding total profit values obtained from sales of both regular and luxury apartments under this decision. Based on this four…
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Use Excel to generate descriptive statistics for the four profit values in Q9 and calculate the 95% confidence interval for the true expected value of the total profit. If this interval has the form [$N, $M], what is the value of M-N, i.e., what is width of the 95% confidence interval for the expected value of the total profit? Express the value in millions and choose the closest from the answers below.
Q: Use Excel to generate descriptive statistics for the four profit values in Q9 and calculate the 95% confidence interval for the true expected value of the total profit. If this interval has the form [$N, $M], what is the value of M-N, i.e., what is width of the 95% confidence interval for the expected value of the total profit?…
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A sports team named Philadelphia Streets has a probability of (2/3) for winning each game against their division rivals Hockeytown. They play 12 games against each other during the season. Assume that the outcome of any particular game is independent from an outcome of any other game. Let X be the random variable that stands for the number of wins that Philadelphia Streets will have in those 12 games. What is the expected value of X?
Q: A sports team named Philadelphia Streets has a probability of (2/3) for winning each game against their division rivals Hockeytown. They play 12 games against each other during the season. Assume that the outcome of any particular game is independent from an outcome of any other game. Let X be the random variable that stands for the number of…
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The number of shares of a stock traded during a day for a firm is approximated by a random variable that is normally distributed with mean 3192 and standard deviation 1181. What is the probability that the number of shares traded is less than or equal to 4200?
Q: The number of shares of a stock traded during a day for a firm is approximated by a random variable that is normally distributed with mean 3192 and standard deviation 1181. What is the probability that the number of shares traded is less than or equal to 4200? or Q: A normally distributed random variable with a mean of…
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The forecast monthly revenues for a firm are modeled using a random variable that is distributed according to a normal distribution with mean $850,000 and standard deviation $165,000. What is median value of this distribution, in $?
Q: The forecast monthly revenues for a firm are modeled using a random variable that is distributed according to a normal distribution with mean $850,000 and standard deviation $165,000. What is median value of this distribution, in $? or Q: A random variable distributed according to a normal distribution with a mean of $850,000 and a standard deviation of $165,000…
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A financial advisor at a financial consulting firm spends time with his investing clients throughout the year. Based on the historical data, he finds that the consulting time T spent with a client can be modeled as a continuous, uniformly distributed random variable, with the minimum value of 50 minutes and the maximum value of 183 minutes. What is the probability that his consulting time with an investor client will not exceed 2 hours (i.e., 120 minutes)? Choose the closest answer.
Q: A financial advisor at a financial consulting firm spends time with his investing clients throughout the year. Based on the historical data, he finds that the consulting time T spent with a client can be modeled as a continuous, uniformly distributed random variable, with the minimum value of 50 minutes and the maximum value of 183 minutes. What is…
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For what value of the demand for regular apartments, DR, the profit from selling regular apartments at the high profit margin of $500,000 is equal to the profit of selling regular apartments to real estate investment company at the salvage profit margin of $100,000?
Q: For what value of the demand for regular apartments, DR, the profit from selling regular apartments at the high profit margin of $500,000 is equal to the profit of selling regular apartments to real estate investment company at the salvage profit margin of $100,000? or Q: The profit from selling regular apartments at the high profit margin of $500,000…
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Re-examine the medical drug success example in the videos. Recall that the number of the successes is distributed binomially (i.e., according to a binomial distribution). Based on the definition of the mode, what is the mode of the distribution of successes? (Recall that the mode is the most likely value that a random variable can take).
Q: Re-examine the medical drug success example in the videos. Recall that the number of the successes is distributed binomially (i.e., according to a binomial distribution). Based on the definition of the mode, what is the mode of the distribution of successes? (Recall that the mode is the most likely value that a random variable can take). or Q: Review…
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The number of shares of a stock traded during a day for a firm is approximated by a random variable that is normally distributed with mean 3192 and standard deviation 1181. Calculate the pdf value at x=3200.
Q: The number of shares of a stock traded during a day for a firm is approximated by a random variable that is normally distributed with mean 3192 and standard deviation 1181. Calculate the pdf value at x=3200. or Q: A normally distributed random variable with a mean of 3192 and a standard deviation of 1181 approximates the number of…
