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Probability

Probability of salary levels for faculty members at SLU

The population mean annual salary for first year faculty at SLU is $47,000. Assuming that the population standard deviation is $1800: 1.) What is the probability that one randomly selected faculty member at SLU has a salary less than $46,000 ? 2) Suppose that 10 faculty members are randomly selected. What is the probabil

Normal Probability: Delivery Truck fuel consumption

A delivery truck averages 15 miles per gallon, with a standard deviation of 3 miles per gallon, and that fuel consumption is Normally Distributed. Using the Normal Distribution, if the total trip mileage for that day is 200 miles, what is the minimum amount of fuel (gallons) that the driver should start the trip with to ensure

Binomial Distribution and trend that stock market performance will continue

Compared with almost any other investment alternative, the stock market performed especially well during the 1990s. In fact, there were only two years out of ten years during the 1990s when the S&P 500 stock index failed to give an annual return on investment of 12 percent or more. So, based on this ten year period, the probab

Statistics: 20 multiple choice

MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. Evaluate the permutation. 1) P( 9, 5) 1) ___ A) 9 B) 1 C) 504 D) 15,120 A bag contains 6 cherry, 3 orange, and 2 lemon candies. You reach in and take 3 pieces of candy at random. Find the

9 Problems: Normal Probabilities, Samples, Distributions

1- Given the following set of numbers assume this is a population: 4,5,7,7,3,5,8,9,6. If this set of numbers were a sample, what divisor would you use to find the variation? 2- Earlier this semester we had a problem with birds with sore throats. I own the pet store that has these birds and I need to get them some medical tre

Probability for Southest grocery stores having pharmacy, floral, deli

A survey of grocery stores in the Southeast revealed 40 percent had a pharmacy, 50 percent had a floral shop, and 70 percent had a deli. Suppose 10 percent of the stores have all three departments, 30 percent have both a pharmacy and a deli, 25 percent have both a floral shop and deli, and 20 percent have both a pharmacy and fl

Determining Probability

1. In the National Weekly Edition of the Washington Post (December 19-25, 2005), firstStreet, Inc. advertised an atomic digital watch from LaCrosse Technology. It is radio-controlled and maintains its accuracy by reading a radio signal from a WWVB radio signal from Colorado. It neither loses nor gains a second in 20 million year

Probability

An automatic machine inserts mixed vegetables into a plastic bag. Past experience shows that some packages were underweight and some were overweight, but most of them had satisfactory weight. Weight Percentage of Total Underweight 2.5 Satisfactory 90.0 Overweight

QMTH 205Lab 3:Probability Distribution & Interval Estimation

See attached files. QMTH 205 Lab 3: Probability Distribution and Interval Estimation Purpose: Students will learn (1) how to make a table of standard normal distribution; (2) how to use Excel to select a simple random sample; (3) how to use Excel built-in functions and procedures to estimate population mean and population

Decision Tree Analysis for Caribbean bank, power generator

The management of a bank in the Caribbean was concerned about the potential loss that might occur in the event of a hurricane. The bank estimated that the loss from one of these storms could be as much as $100 million including losses due to interrupted service and customer relations. One project the bank is considering is

5 Statistics Problems: Normal Probability, Samples, and Confidence Intervals

1- Surveying all drug stores in the Boston area, it was found that the average cost of a chocolate mint frappe is $30.50. The cost of a mint frappe population is normally distributed, with a standard deviation of $0.50. If I select a drug store in the Boston area randomly, what is the probability that the cost of is chocolate mi

Solving puzzles; inspecting computer shipments

A multi choice exam offers 4 choices for each question. Jason guesses the answers, so he has a probability 1/4 of getting any one question correct. 1) What is the expected number of right answers Jason will get if the test has 20 questions? Data on number of puzzles solved by a person are as follows: Puzzles solved:

Probability of randomly selected family

Select an American family randomly and count the number of people it contains. Here is the assignment of probabilities for your outcome: Number of persons: 2 3 4 5 6 7 Probability: 0.42 0.23 0.21 0.09 0.03 0.02 1) What is the probability th

Probability Calculations Analysis

A TV show, DOG and CAT, recently had a share of 20, meaning that among the TV sets in use, 20% were tuned to that show. Assume that an advertiser wants to verify that 20% share value by conducting its own survey, and a pilot survey begins with 9 households having TV sets in use at the time of a GOD and CAT broadcast: - Find

Probability

In a region, 20% of the population has brown eyes. If 15 people are randomly selected, find the probability that at least 13 of them have brown eyes. Is it unusual to randomly select 15 people and find that at least 13 of them have brown eyes? - The probability at least 13 of 15 have brown eyes = ____ (three decimal places

Statistics

An insurance company charges a 21 year old male a premium of $250 for a one year $100,000 life insurance policy. A 21 year old male has a 0.9985 probability of living for a year. From the perspective of a 21 year old male (or his estate), what are the values of the two different outcomes The value if he lives is $_______ T

Statistics

Based on data from a car bumper sticker study, when a car is randomly selected, the number of bumber stickers and corresponding probabilities are shown below. 0 (0.794) 1 (0.099) 2 (0.041) 3 (0.015) 4 (0.014) 5 (0.012) 6 (0.008) 7 (0.006) 8 (0.006) 9 (0.005) Does the given info describe a probability distribution

Normally distributed output: What is true about the mean of the process?

A process when in control produces a normally distributed output with a mean of 200 and a range of 20. Ten samples of 20 each yield the following means and ranges. Sample 1 2 3 4 5 6 7 8 9 10 X-Bar 200 202 201 204 203 203 201 201 202 201 Range 19.0 20.0 20.2 20.7 19.0 21.1 19.0 20.1 20.3 21.7 Which of the following is mos

Probability, mean, variance, standard deviation,

Please solve in Excel only. 1. The Penguin Company employs 400 men and 100 women. Of the male employees, 280 work in the plant, 40 are in the office, and 80 are field salesmen. The female employees are distributed as follows: 20 to the plant, 50 to the office, and 30 to the sales. If the CEO, Stephanie, randomly selects an

Statistics: Probability distribution, random variable, Poisson distribution

1. Compute the following and show your steps. 3! ÷ (0!*3!) 2. Three members of a club will be selected to serve as officers. The first person selected will be president, the second person will be vice-president and the third will be secretary/treasurer. How many ways can these officers be selected if there are 30 club memb

Probability

If a couple were planning to have three children, the sample space summarizing the gender outcomes would be: bbb,bbg,bgb,bgg,gbb,gbg,ggb,ggg: 1. Construct a similar sample space for the possible gender outcomes (using b for boy a g for girl) of two children? 2. Assuming that the outcomes listed in part 1 were equally likel

Probability

A research center poll showed 80% of people believe that it is morally wrong to not report all income on tax returns. What is the probability that someone does not have this belief? The probability that someone does not believe that it is morally wrong to not report all income on tax returns is ____ (integer or decimal)

Probabilities of number of fish caught at a particular location on a river

At a particular location on a river the number of fish caught per man-hour of fishing effort has a Poisson distribution with ?= 1.3 fish per man hour. Find the following probabilities: a. That four fish will be caught by one man fishing 2 hours. b. That six fish will be caught by three men fishing 20 minutes each.

Poisson distribution: Manuscript pages typing errors

In a lengthy manuscript, it is found that only 2/3 of the pages contain no typing errors. Assume that the number of errors per page has a Poisson distribution. a. Find the expected number of errors per page? b. What percentage of pages has exactly one error?

Known mean population and an unknown variance

A normal population has a known mean 50 and unknown variance. a) A random sample of n=16 is selected from this population and the sample results are x-bar = 52 and s= 8. How unusual are these results? Explain. b) A random sample of n=30 is selected from this population and the sample results are x-bar = 52 and s=8. How unu

Discrete Probabilty Distributions for Lottery Payouts

The payouts of the lottery and their corresponding odds and probabilities of occurrence are shown below. The price of a ticket is $1.00. Find the mean and standard deviation. Hint: don't forget to include the cost of the ticket and its corresponding probability. Divisions Payout Odds