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Probability

Probability

From probability... Distributions of two random variables. The Correlation Coefficient. 1. A certain species of plant produces a flower that is either red, pink, white or on rare occasions blue. Form an analysis of the plants genes it is possible to calculate the the probability of a red flower is , the probability of white i

Employees in the textile industry can be segmented as follows.

4. Employees in the textile industry can be segmented as follows Employees Number Female and union 12,000 Female and nonunion 25,000 Male and union 21,000 Male and nonunion 42,000 a. Determine the probability of each event in this distribution. b. Are the events in this distribution mutually exclusive? Expl

Bernoulli Trial

15% of a city is self-employed. Find the probability that more than 3 of 6 of the people from this city sampled at random are self-employed.

Probability Problem Set (14 Questions)

1. During the last hour, a telemarketer dialed 20 numbers and reached 4 busy signals, 3 answering machines, and 13 people. Use this information to determine the empirical probability that the next call will be answered in person. 2. If you roll a die many times, what would you expect to be the relative frequency of rolling a

Probability Problem

Supose a pill exists with the property that one out of every 100 such pills contains a lethal amount of a substance, and that the other 99 are harmless. Caluclate how many people would be expected to die if 1,000 people each take 1 pill and if 1,000 people each take 10 pills. If 1,000 people take a single pill we would expect

The question is related to calculation of probability for different events from a sample of 2,000 licensed drivers revealed the following number of speeding violations. The second question is related to the selection students based on their gender and major.

I need some assistance with the attachment document. 8. A sample of 2,000 licensed drivers revealed the following number of speeding violations. Number of Violations Number of Drivers 0 1,910 1 46 2 18 3 12 4 9 5 or more 5 Total 2,000 a. What is the experiment? b. List one possible eve

Basic Probability Problems

Hello again! 1. Suppose you have 3 nickels, 2 dimes and 6 qtrs in your pocket. If you draw a coin ramdomly what is the probality that a. you will draw a dime ? b. you will draw a half dollar ? c. you will draw a qtr ? 2. you are rolling a pair of dice, one red and one green. what is the probability of the following outcomes

Probability Density Functions

From the Gamma, Chi-Square, and additional distributions. Please use any technological device available for you to solve the problem, but please explain each step of your solution. Thank you.

Waiting Lines and Queuing Theory Models

The problem is this: In planning for a major redesign, Beth collected data at her store on several consecutive Saturday mornings. She noticed that customers arrived at the checkout at a rate of approximately 100 per hour. Fully 20 percent of the customers had 10 items or less. Those people took about 2 minutes to serve on av

Future Value and Probability

Looking ahead to retirement , you sign up for automatic savings in a fixed income 401K plan to pay 6% per year compounded annually. You plan to invest $3500 at the each year for the next 20 years. How much will your account have in it at the end of 20 year? A spinner is used for which it is equally probable that the pointe

Probability

The probability of a coat having a defect is 1/3. What is the probability of there being 15 defective coats in a batch?

Probability - Waiting Time

Please see attached file for full problem description. Waiting Time 1) Let τ be a random variable which measures the time one has to wait for an event, such as default of a bond. As one can observe, the distribution of τ has the following density function: f(t) = ( λ > 0 is given ) a) Given any time

Probability: The difficulty of picking numbers at random.

Calculate the exact percentage, within a randomly selected list, of neighbouring digits that would have the same value, and the percentage of neighbours whose value differs by 1 (and do NOT count 0 and 9 as differing by 1). What is the probability of a list of 40 randomly choosen digits containing no same value neighbours? Have

Probability, Profit / Loss and Expected Values

A coats manufacturer knows that there is a probability of 1/3 of their coats having defects that will prevent a retailer from selling the coat. The cost of manufacturing the coats is $60 per coat. To persuade retailers to buy from them, they make the following offer: ? A sample of five coats is to be taken, at random, from e

Sets, Complements and Probability

1. Set x= (5,7,11,13,16,19) Set y= (1,2,5,13,19) a. what is the union of sets x and y b. what is the intersection of sets x and y c. create your own set z that is a subset of x 2.Let set 1 be the entire alphabet. let set 2 = (w,x,y,z) a. what is the complement of set 2 in set 1 b. set 3 =(w,x,z). is set 3 a proper subs

Quantitative Methods and Decsion Making : Expected Values and Expected Utility

You have received your MBA from Trinity University and been hired by Deutsche Bank as the Executive Vice President of Finance. You negotiated a hefty salary and received a signing bonus, so you are relied upon heavily to make decisions using quantitative methods. Today, you are faced with three investment alternatives with the

Expected Value

Decision analysis with sample information/expected value/utility analysis/quantitative methodsProblem:A television network has been receiving low ratings for its programs. Currently, management is considering two alternatives for the Monday night 8:00 pm-9 pm time slot: a western with a well-known star...(there is more). The tel

Payoff Problem/Expected Value Decision Alternatives

A Las Vegas roulette wheel had 38 different numerical values. If an individual bets on one number and wins, the payoff is 35 to 1. the pay off table for a 10 dollar bet on one number for decision alternatives of bet and do not bet is shown in this payoff table win loose bet 350

Conditional Probability

1.4-13 Tn the gambling game "craps" a pair of dice is rolled and the outcome of the experiment is the sum of the points on the up-sides of the six-sided dice. The bettor wins on the first roll if the sum is 7 or 11. The bettor loses on the first roll if the sum is 2, 3, or 12. If the sum is 4, 5, 6, 8, 9, or 10, that number is c

Algebra Multiple Choice

1. How many times larger than 1/4x is 5x?: * 4/5 5/4 9 20 2. The probability that Robin Hood hits a target is 5/6. The probability that Little John hits a target is 1/7. If Robin Hood and Little John each shoot one arrow at the target, what is the probability that they both miss?: * 5/42 1/7 6/7 37/42 3. If (5x2 -

Decision tree probability

Company XYZ must decide whether or not to introduce a new version of its product. The president thinks that the probability is 0.75 that the new version will be successful and 0.25 that it will not. If the product is a success, the company will gain $300,000. If it is a failure, the company will lose $150,000. a. Constru

Probabilities

Textbook authors and publishers work very hard to minimize the number of errors in text. However, some errors are unavoidable. The number of mean errors per chapter is 0.8. What is the probability that there are less than 2.

Probability

A manufacturer of window frames know from long experience that 5 percent of the production will have some type of minor defect tht will require an adjustment. What is the probability that in a sample of 20 window frames a) none will need adjustment b) at least one will need adjustment c) More than two will need adjustment

Binomial Probability

When shipping diesel engines abroad, it is common to pack 10 engines in 1 container that is then loaded on a rail car and sent to a port. Suppose that a company has received complaints from its customers that many of the engines arrive in nonworking condition. To help solve this problem, the company decides to make a spot check

Probability and Statistics : Poisson Distributions and Standard Deviations

The number of violent crimes committed in a large city follows a Poisson distribution with an average rate of 10 per month. a. Find the expected number of violent crimes committed in a 3 month period b. Find the standard deviation of the number of violent crimes committed in a 3 month period c. Find the probability that at l