In an article about the cost of health care, Money Magazine reported that a visit to a hospital emergency room for something as simple as a sore throat has a mean cost of $328. Assume that the cost for this type of hospital emergency room visit is normally distributed with a standard deviation of $92. a. What is the probabil
Prove the following: a) Fxy(a,b) is non-decreasing (in a and b). b) lim a->inf Fxy(a,b) = Fy(b) c) Jointly continuous random variables X and Y are independent if and only if fxy(x,y) = fx(x)*fy(y) fxy(x,y) is the joint probability density function. Fxy(a,b) is the joint cumulative
The daily trading volumes (millions of shares) for stocks traded on the New York Stock Exchange for twelve days in a certain period are given below. See attachment. Assume that the probability distribution of trading volumes is approximately normal. 1. Compute mean and standard deviation for daily trading volumes to use
What is the odds ratio (and what does it mean) for a density case control study with the this info. Death from treatment x = 30 control series in treatment x = 174 Death from treatment y = 21 control series in treatment y = 184
1. True or false, and explain: (a) If something has probability 1,000%, it is sure to happen. (b) If something has probability 90%, it can be expected to happen about nine times as often as its opposite. 2. The chance of A is 1/3; the chance of B is 1/10. True or false, and explain: (a) If A and B are independent, th
Given: P(A|B and C = .10, P(A|Not B and C) = .05 P(A|B and Not C) = .35, P(A|Not B and Not C) = .20 P(C|B) = .90, P(C|Not B) = .30 A = Promoted within last year B = MBA Degree C = Hired directly out of school Can you derive probabilities: P(A|B) = .125, P(A|Not B) = .155 can you shed any light on this "Paradox"?
I need help with the probability and explaining it. This is graduate level work. Please see attached case study. The questions I need help with are the two for the case study at the bottom of the page. These are the two discussion questions: 1. What are the chances of getting 15 days of rain over the next 30 days? 2.
Powerball is a lottery game. It involves choosing five white balls from a drum containing 55 balls and one red ball from a drum containing 42 balls. A player must match all five white balls and the red ball to win the jackpot. How would you investigate the question about the probability of matching only the red ball? What
1. A study shows that employees that begin their work day at 9:00 a.m. vary their times of arrival uniformly from 8:40 a.m. to 9:30 a.m. The probability that a randomly chosen employee reports to work between 9:00 and 9:10 is: 40% 20% 10% 30% 16.7% 2. Suppose that the times requ
Your company's internal auditor believes that 10% of the company's invoices contain errors. To check this theory, 20 invoices are randomly selected and 5 are found to have errors. What is the probability that of the 20 invoices written, five or more would contain errors if the theory is valid? a. .0433 b. .03
As a result of an increase in demand for a town's parking facilities, the owners of a car park are reviewing their business operations. A decision has to be made to choose one of the following options: Option 1. Make no change. Annual profit is $200,000. There is little likelihood that this will provoke new competition.
Your company ships a lot of packages needing quick delivery and short notice. In the past, you have used Speedy Air Delivery Service, but you are beginning to receive complaints from customers who say they are not receiving their packages on time. Speedy advertises that it delivers packages anywhere in the U.S. in an average of
The probability is 1 in 4,000,000 that a single auto trip in the United States will result in a fatality. Over a lifetime, an average U.S. driver takes 50,000 trips. (a) what is the probability of a fatal accident over a lifetime? Explain your reasoning carefully. Hint assume independent events. Why might the assumption of indep
Using our data set from Unit 1, compose a 3-page e-mail to the head of the American Intellectual Union, which includes the following: 1. Begin your e-mail to AIU by first providing an overview of the database, that is, a story about the characteristics that may include types of variables, etc. 2. Be sure to include inform
The wheat harvesting season is short. Farmers deliver their truck loads of wheat to a giant central storage bin within a two-week span. Because of this, wheat-filled trucks waiting to unload and return to the fields have been known to back up for a block at the receiving bin. The central bin is owned cooperatively and it is to
Five percent of patients suffering from a certain disease are selected to undergo a new treatment that is believed to increase the recovery rate from 30% to 50%. A person is randomly selected from these patients after the completion of the treatment and is found to have recovered. What is the probability that the patient receive
Using our data provided below in this post, compose an e-mail to the head of the American Intellectual Union, which includes the following: Begin your e-mail to AIU by first providing an overview of the database, that is, a story about the characteristics that may include types of variables, etc. Be sure to include i
******Please help me with this and show me how to do it. Using our data set which is attached, Use the attached templete: 1.Begin your e-mail to AIU by first providing an overview of the database, that is, a story about the characteristics that may include types of variables, etc. 2.Be sure to include information about
11. Find the probability, P(Z < 0.17), using the standard normal distribution. A. .8300 B. .4325 C. .5675 D. .0675
See attached file for graphs and tables. 1. A study of 45 bolts of carpet showed that their average length was 78.2 yards. The standard deviation of the population is 1.6 yard.Which of the following is the 95% confidence interval for the mean length per bolt of carpet? A 77.8 < µ< 78.6 B 77.3 < µ< 79.1 C 78.0 < µ
An article reported that the mean time to download the home page for the Internal Revenue Service, www.irs.gov, is 0.8 seconds. Suppose that the download time is normal distributed, with a standard deviation of 0.2 seconds. The same artile mentioned above also reported that the mean time to download the home page for H & R
At a certain college, there were 600 science majors, 200 engineering majors, and 500 business majors. If a student is selected at random, what is the probability that the student is an engineering major? Calculate your answer rounded to four decimal places. Simply provide the numerical value. For example, 0.1234 would be a le
In a particular region of Cape Cod, it is known that lobstermen trap on average of 32 pounds of lobster per day with a standard deviation of four pounds. If a random sample of 30 lobster fishermen is selected, what is the probability that their average catch is less than 31.5 pounds? Calculate your answer rounded to four deci
James Choi, David Laibson, and Brigitte Madrian conducted an experiment to study the choices made in fund selection. Suppose 100 undergraduate students and 100 MBA students were selected. When presented with four S&P 500 index funds that were identical except for their fees, undergraduate and MBA students chose the funds as fo
Half (0.5) of the homes built in the new upper-bracket Houston subdivision included a room designed specifically to be a home theater. Four Houston homes are selected at random: 1. What is the chance that all four homes will have the home theater room? 2. What is the chance that none of the homes in the sample of four wil
The Oil Price Information Center reports the mean price per gallon of regular gasoline is 3.26 with a population standard deviation of 0.18. Assume a random sample of 40 gasoline stations is selected and their mean cost for regular gasoline is computed. a.) What is the standard error of the mean in this experiment? b.) What
A project is being analyzed using PERT. The expected completion time of the project is 70 weeks with a standard deviation of 5 weeks. Assume the project completion time is normally distributed. What is the probability that the project will be finished in 74 weeks or less? a. 0.8000 b. 0.7881 c. 0.2119 d.
Answer the following: (A) Find the binomial probability P(x = 6), where n = 15 and p = 0.60. (B) Set up, without solving, the binomial probability P(x is at most 6) using probability notation.
Answer the following: (A) Find the binomial probability P(x = 6), where n = 15 and p = 0.60. (B) Set up, without solving, the binomial probability P(x is at most 6) using probability notation. (C) How would you find the normal approximation to the binomial probability P(x = 6) in part A? Please show how you would calculate
See attached files. Compose an e-mail to the head of the American Intellectual Union, which includes the following: Begin your e-mail to AIU by first providing an overview of the database, that is, a story about the characteristics that may include types of variables, etc. Be sure to include information about where stat