1. A group of day to day workers can work either 0 hours, eight hours or 12 hours at a pay rate of $9.75 per hour. (The 12 hour day pays regular time for the first eight hours and double time for the remaining four hours.) On any given day there is a 0.2 probability of not working at all, 0.7 probability of working an eight hour shift and a 0.1 probability of working a 12 hour shift.

a. What is the probability of working at least some of the time during a day?
b. What is the expected amount of work per day?
c. What is the variation in the expected amount of work per day?
d. What is the expected pay per day?
e. What are the expected earnings in a 5-day work week?

Solution Preview

Please refer to attached file.

1. A group of day to day workers can work either 0 hours, eight hours or 12 hours at a pay rate of $9.75 per hour. (The 12 hour day pays regular time for the first eight hours and double time for the remaining four hours.) On any given day there is a 0.2 probability of not working at all, 0.7 probability of working an eight hour shift and a 0.1 probability of working a 12 hour shift.

a. What is the probability of working at least some of the time during a day?

P(working ...

Solution Summary

The solution addresses the probability of day worker hours. The variation in the expected amount of work per day are determined.

1. Hits on a personal web site occur quite infrequently. They occur randomly and independently with an average of five per week.
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2. The random variable X is exponentially

I would like to have the response to the following problems in excel format so that I can see the formulas used.
Thank you
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Please solve in Excel only.
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