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    Probability

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    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 pointer

    Probability: Demand for a Product

    The demand for a product is estimated to be normally distributed with u=200 and o=40. Let x be the number of units demanded and find the following probabilities. a. P(180< x <220) b. P(x > 250) c. P(x < 100) d. P(225 < x < 250)

    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?

    Wait time - probability

    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 t > 0, find

    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

    Probability and Random Numbers

    Please see the attached file for the fully formatted problems. The question & instruction part: (Please follow the instruction. Please do as it says(use Mathematica). Getting correct final answers is very important. Please double check your final answers. Thank you so much.) The example 1.1-11:

    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

    How to find probabilities related to a normal distribution

    The number of passengers on the Carnival Sensation during one-week cruises in the Caribbean follows the normal distribution. The mean number of passengers per cruise is 1,820 and the standard deviation is 120. a. What percent of the cruises will have between 1,820 and 1,970 passengers? b What percent of the cruises will hav

    Probabilities: Textbook Authors and Publishers

    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

    Statistics Problem: Probability and Z-Scores

    Scores on an endurance test for cardiac patients are normally distributed with mean = 182 and standard deviation = 24. a. What is the probability a patient will score above 190? b. What percentage of patients score below 170? c. What score does a patient at the 75th percentile receive? d. What percentage of patients score b

    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

    Probability : Standard Deviation

    Suppose the national average for medication error is one out of every 1000 patients. A hospital believes that their medication error rate is comparable to the national average. If the hospital randomly selects 500 patients, a. Find the expected number of patients in the sample that will have had a medication error. b. What is

    1. What is the probability that a randomly selected individual from this population earns less than $60,000 per year? 2. If a randomly selected individual is observed to earn less than $60,000 per year, what is the probability that this person is a man? 3. If a randomly selected individual is observed to earn at least $60,000 per year, what is the probability that this person is a woman?

    Consider a population of 2000 individuals, 800 of whom are woman. Assume that 300 of the woman in this population earn at least $60,000 per year, and 200 of the men earn at least $60,000 per year. 1. What is the probability that a randomly selected individual from this population earns less than $60,000 per year? 2. If a r

    Leverage Analysis

    16-3 The Rivoli Comapny has no debt outstanding, and its financial position is given by the following data: Assets (book = market) $3,000,000 EBIT $5000,000 Cost of equity , rs 10% Stock Price , P0 $15 Shares outstanding, n