1. Let sample mean = 70 and the sample variance = 36 and assume the data is normally distributed. Use ths information to answer the following: a. what is the median of this data set? b. find an interval that would contain 68% of all data values from the sample. c. find the x-value that corresponds to the 16th percentile d.
At the end of the spring semester, the Dean of Students sent a survey to the entire freshman class. One question asked the students how much weight they had gained or lost since the beginning of the school year. The average was a gain of a mean=9 pounds with a standard deviation=6. The distribution of scores was approximately no
A deck contains three drawers. Drawer 1 contains two gold coins. Drawer 2 contains one gold coin and on silver coin. Drawer 3 contains two silver coins. I randomly choose a drawer and then randomly choose a coin. If a silver coin is chosen, what is the probability that I chose drawer 3? A customer has approached a bank for a
I need help with the following: Fluctuation in the prices of precious metals such as gold have been empirically shown to be well approximated by a normal distribution when observed over short interval of time. In May 1995, the daily price of gold (1 troy ounce) was believed to have a mean of $383 and a standard deviation of $
What are life expectancy tables and why are they important for life insurance companies?
1. Describe two main differences between classical and empirical probabilities. Gather coins you find around your home or in your pocket or purse. You will need an even number of coins (any denomination) between 16 and 30. You do not need more than that. Put all of the coins in a small bag or container big enough to allow th
1. Center (-8, 1), radius square root of 3. Write the correct equation. 2. 6x+7y=11 The equation in slope intercept Form is y = _______ The slope is _______ Y intercept is ________ 3. Two round fountains are similar. One measures 6'4" across and the other measures 8"7" across. The scale factor of the fountains is ___
A paper bag contains a mixture of three types of candy. There are ten gum balls, seven candy bars, and three packages of toffee. Suppose a game is played in which a candy is randomly taken from the bag and then a second candy is drawn from the bag, without replacement. You are allowed to keep both candies if and only if the seco
Fluctuation in the prices of precious metals such as gold have been empirically shown to be well approximated by a normal distribution when observed over short interval of time. In May 1995, the daily price of gold (1 troy ounce) was believed to have a mean of $383 and a standard deviation of $12. A broker, working under these a
7. Use the table to find the probabilities that a person's total charges during the period are the following: What is the probability that a person total charges are $1000 or more?___________ (type an integer or decimal group or 2 decimal places as needed) Chart shows probability of a person accumulating specific amounts of c
1) Jack and Jill ran a 200 meter race. Jill ran the race in 25 seconds and won by 5 meters; that is Jack had run only 195 meters when Jill crossed the finish line. They decide to race again, but this time Jill starts 5 meters behind the starting line. Assuming that both runners run at the same pace as before, who will win the se
I have completed some of the question. I need help with the formulas on how to solve the problems along with making sure what I have done is correct. 5.2 Textbook p 282 Exercises 22, 24, 32 A golf ball is selected at random from a golf bag. If the golf bag contains 9 Titleist's, 8 Maxflis, and 3 Top Flites, find the pro
1. If the random variable z is the standard normal score and a > 0, is it true that P(z > -a) = P(z < a)? Why or why not? 2. Given a binomial distribution with n = 20 and p = 0.26, would the normal distribution provide a reasonable approximation? Why or why not? 3. Find the area under the standard normal curve for the foll
A casino states that the house odds (note: house odds are the odds that the gambler will lose) for a certain game are 23 to 2. What are the odds that you, the gambler, would win the game? What is the probability that you would win the game?
1. A ball is randomly selected from a jar containing 70 red balls, 20 green balls, and 10 blue balls. What is the probability that a non-red ball is chosen? 2. The students in the 12-member advanced communications design class at Center City Community College are submitting a project to a national competition. They must sel
Can you think of situations in the business world or other real life situations where you would need to calculate or estimate probabilities? From a business perspective, which measurement is more important: the mode, mean, or median?
Consider a state lottery that has a weekly television show. On this show, a contestant receives the opportunity to win $1 million. The contestant picks from 4 hidden windows. Behind each is one of the following: $150,000, $200,000 $1 million, or a "stopper". Before beginning, the contestant is offered $100,000 to stop. Mathemati
A couple has agreed to attend a "Casino Night" as part of a fundraiser for the local hospital. They do not like to gamble because they believe that gambling is generally a losing proposition. However, for the sake of the charity, they have decided to attend and spend $300 on the games. There will be four games, each involving st
A company operates a telephone order system for a catalogue of its outdoor clothing products. The catalogue orders are processed in three stages. In the first stage, the telephone operator enters the order into the computer; in the second stage, the items are secured and batched in the warehouse; and in the final stage, the orde
Parke-Davis data: A group of 100 people were in a study involved treatment with Lipitor. Unbeknownst to the subjects, some of them were given Liptor and some were given placebo (sugar pill) as shown in the table. Lipitor (T)...........Placebo (S) Headache (H) 15..............65 No Headache (N)
The manager of the Radford Credit Union(RCU) wants to determine how many part-time tellers to employ to cover the peak demand time in its lobby from 11:00 am to 2:00 pm. RCU currently has three full-time tellers that handle the demand during the rest of the day, but during this peak demand time, customers have been complaining t
FAVORABLE UNFAVORABLE MARKET MARKET EQUIPMENT: ($) ($) Sub 100 300,000 -200,000 Oiler J 250,000 -100,000 Texan
A grab bag contains 10 $1 prizes, 7 $5 prizes, and 5 $20 prizes. Three prizes are chosen at random. Find the following probabilities. The probability that exactly two $20 prizes are chosen is (Round to nearest thousandth as needed) The probability that one of each prize is chosen is (Round to nearest thousandth as need
About 30% of adults in United States have college degree. (probability that person has college degree is p = 0.30). If N adults are randomly selected, find probabilities that 1) exactly X out of selected N adults have college degree 2) less than X out of selected N adults have college degree 3) greater than X out of sel
Let x determine a random variable, and user your knowledge of probability to prepare a probability distribution. Five cards are drawn(with replacement) and the number of red cards is noted. A probability distribution for the given experiment is as follows x 0 1 2 3 4 5 P(x)_________________5___1
1. If the probability of an event is .857, what is the probability that the event will not occur? 2. A baseball player with a batting average of .300 comes to bat. What are the odds in favor of the ball player getting a hit?
The problem is attached. Let X be a continuous random variable with probability density function fx, and set Y = cX, where c is a non-zero constant. Prove that the probability density function of Y is given by fY(x) = fX(x/c)/c.
The J&B Card Shop sells calendars depicting a different Colonial scene each month. The once-a-year order for each year's calendar arrives in September. From past experience, the September to July demand for the calendars can be approximated by a normal probability distribution with r=500 and o=120. The calendars cost $1.50 each,
The probability that house sales will increase over the next six months is estimated at .25. It is also estimated that the probability is .74 that 30 year fixed-loan mortgage rates will increase over this period. Economists estimate that the probability is .89 that either housing sales or interest rates will increase. The probab
Q1) During the year 2000, there was an average of .022 car accident per person in the United States. Using your knowledge of the Poisson random variable, explain the truthin the statement, "Most drivers are better than average." Q2) My home uses two light bulbs. On average, a light bulb lasts for 22 days (exponentially distrib