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    Probability

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    Probability Theory: Writing Functions Using Indicators

    Please see the attached file for the fully formatted problem. Question: Write the following function using indicators: .....{1 if x < -1, .....{-x if -1</= x < 0, f(x){x if 0 </= x <1, .....{1 if x >/= 1. Prove or disprove: I_AUB = I_A + 1_B - (I_A)(I_B)

    Probability of Given Patient with a Serious Illness

    Researchers have determined that patients who are smokers have 18% chance of contracting a serious illness, whereas only .06 probability that a non smoker will contract a serious illness. 23% are all smokers 77% non smokers What is the probability that a given patient if the patient has a serious illness?

    Probability that c7 sits in c8

    Two adults a1 and b1, and eight children c1, c2, ... , c8 board a bus with 10 seats s1, s2, ... , s10. The adults board first and randomly select seats. The children select seats in order with c1 selecting first, c2 selecting second, and so on. Each child sits in the lowest numbered seat available to them. What is the probab

    Solve linear equations and compounding interest

    An employee of the National Parks Service told you about a location in Washington, DC. It is a large grassy area south of the White House known as the Ellipse. The National Tree Lighting Ceremony is held annually on the Ellipse. Because the President officiates at this event, the Secret Service makes calculations which they use

    Solve linear equations and compounding interest

    Among the professionals you have interviewed for your article, were several state and federal government spokespersons who use linear equations in a variety of ways. An employee of the National Parks Service told you about a location in Washington, DC. It is a large grassy area south of the White House known as the Ellipse.

    Real-Life Applications of Parabolas, Hyperbolas and Probability

    One of the civil engineers you interviewed for your article works for a company which specializes in bridge construction projects. In the process of designing suspension bridges, they must account for many variables in the modeling. Some of these variables include the bridge span; the force of the typical water currents wearing

    Probability

    Probability: Mary is taking two courses, photography and economics. Student records indicate that the probability of passing photography is 0.75, that of failing economics is 0.65, and that of passing at least on of the two courses is 0.85. Find the probability of the following: a.Mary will pass economics. b. Mary will pass both

    Expected Value Probability Problem

    Please open the attached excel and word files for the example. Assume I am valuing the cash flows of a simple company with contracts 'a' through 'f' that have different varying cash flows over 10 years. Probability of default for each contract a-f in any given year = 2.50%. Once there is a default, the cash flows cease a

    Counting Possible Outcomes

    A coin is flipped eight times where each flip comes up with either heads or tails how many possible outcomes? a) contain exactly 3 heads b) contain at least 3 heads c) contain the same number of heads n tails.

    Forecasting model for soft drinks

    The number of cans of soft drinks sold in a machine each week is recorded below from left to right, with oldest data to the left of the table.... see attached

    Probability Distribution of Cats Climbing into Chairs

    1. A lady has six cats. Each cat has a 0.60 probability of climbing into the chair in which the lady is sitting, independently of how many cats are already in the chair with the lady. Find the probability distribution for the number of cats in the chair with the lady. Find the expected number of cats in the chair with the lady.

    Operations Research

    Embassy Publishing Company received a six-chapter manuscript for a new college textbook. The editor of the college division is familiar with the manuscript and estimated a 0.65 probability that the textbook will be successful. If successful, a profit of $750,000 will be realized. If the company decides to publish the textbook an

    Operations Research

    Seneca Hill Winery recently purchased land for the purpose of establishing a new vineyard. Management is considering two varieties of white grapes for the new vineyard: Chardonnay and Riesling. The Chardonnay grapes would be used to produce a dry Chardonnay wine, and the Riesling grapes would be used to produce a semi-dry Riesli

    Myrtle Air Express decided to offer direct service from Cleveland to Myrtle Beach. Management must decide between a full-price service using the company's new fleet of jet aircraft and a discount service using smaller capacity commuter planes. a. If nothing is known about the probabilities of the chance outcomes, determine the recommended decision using the optimistic, conservative, and minimax regret approaches.

    Myrtle Air Express decided to offer direct service from Cleveland to Myrtle Beach. Management must decide between a full-price service using the company's new fleet of jet aircraft and a discount service using smaller capacity commuter planes. It is clear that the best choice depends on the market reaction to the service Myrtle

    Probabilities, Confidence Intervals and Binomial Random Variables

    8.50 Refer to Exercise 8.25, vhere we reported on the results of Harris polls conducted in 1983 and 1992. The 1992 results summarized the responses of n ? 1251 individuals, whereas we assumed that the results for the 1983 poll involved n = 1250 respondents. The data are summarized in the accompanying table for your convenience.

    Probability Generating Functions & Offspring Generating Function

    A1. (i) Let X be a random variable with probability mass function ( pmf ) ..... Determine the probability generating function of X. (ii) Suppose that the probability generating function of a random variable X is given by .... Determine the probability mass function of X. [5 marks] (Hint: You may use the formula: P1 ... A

    Description of Probabilities

    A survey of MBA students obtained the following data on "student's first reason for application to the school in which they matriculated". Reason for Application Quality Cost Other Totals Full time 421 393 76 890 Part time 821 986 122 1929 Letting A be the event that a student

    Probabilities

    A survey of MBA students obtained the following data on "student's first reason for application to the school in which they matriculated". Reason for Application Quality Cost Other Totals Full time 421 393 76 890 Part time 821 986 122 1929 Letting A be the event that a student

    Probabilities

    A survey of MBA students obtained the following data on "student's first reason for application to the school in which they matriculated". Reason for Application Quality Cost Other Totals Full time 421 393 76 890 Part time 821 986 122 1929 I need to show if a student goes part

    Probabilities Matriculated Applications

    A survey of MBA students obtained the following data on "student's first reason for application to the school in which they matriculated". Reason for Application Quality Cost Other Totals Full time 421 393 76 890 Part time 821 986 122 1929 I need to show if a st

    Joint and Marginal Probability

    Through a telephone survey, a low-interest bank credit card is offered to 400 households. The responses are as tabled. Income = $40,000 Income > $40,000 Accept offer 40 30 Reject offer 210

    Probability and Events for Centers of Disease Control

    1. The following table, based on the data from the Centers for Disease Control, gives the number of new cases of the AIDS virus for men and women in the United States in 1998 by method of transmission. Method of Transmission Male Female Total Homosexual contact 8388

    Statistics : Sampling Distributions and Probabilities

    Americans have become increasingly concerned about the rising cost of Medicare. In 1990, the average annual Medicare spending per enrollee was $3267; in 2003, the average annual Medicare spending per enrollee was $6883 (Money, Fall 2003). Suppose you hired a consulting firm to take a sample of fifty 2003 Medicare enrollees to fu

    Statistics: Sampling Distribution and Probability Problems

    The average annual cost of automobile insurance is $687 (National Association of Insurance Commissioners, January 2003). Use this value as the population mean and assume that the population standard deviation is &#963; = $230. Consider a sample of 45 automobile insurance policies. a. Show the sampling distribution of x where

    Statistics

    Fifty percent of Americans believed the country was in a recession, even though technically had not shown two straight quarters of negative growth (Business Week, July 30, 2001). For a sample of 20 Americans, make the following calculations. a. Determine the probability that exactly 12 people believed the country was in a re

    Probability problem

    3. A production line manufactures 1000 ohms resistors that must satisfy a 10% tolerance. a. If a resistance is adequately described by a Gaussian random variable for which mean = 1000; and standard deviation = 40;, what fraction of the resistance expected to be rejected? b. If a machine is not properly adjusted, the produc

    Statistics

    In an article about investment growth, Money magazine reported that drug stocks show powerful long-term trends and offer investors unparalleled potential for strong and steady gains. The federal Health Care Financing Administration supports this conclusion through its forecast that annual prescription drug expenditures will reac