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    Probability

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    Statistics: Mike's Ice Cream mean sales; math aptitute test for college freshman

    Part 2. Evaluate probabilities using the laws of probability, the standard normal distribution, t-distribution, or X2-distribution. Mike's Ice Cream shop sells ice cream and related products. Past experience indicates that the daily sales follow a probability distribution that has a mean of $1000 and a standard deviation of $

    Selected employee has a technical job or is a soccer fan

    See attached file. In a large corporation a sample of 136 employees have been classified according to the type of work and asked their preferred sport. The results are presented in the accompanying table. assume that one employee in this sample is selected at random. Find the indicated probabilities (express them as a decimal

    Conditional probability: LAN shutdown

    The local area network (LAN) for the faculty of engineering computing system at the University of Waterloo is temporary shut down for repairs. Previous shut downs have been due to hardware failure, software failure or power failure. Maintenance engineers have determined that the probabilities of hardware, software and power prob

    Sampling in statistics and acceptance regions

    Q1 - The probability of accepting a lot that is 10% defective is .677. Does that mean, then, that the probability of rejecting the lot is 0.333? Q2 - An acceptance sampling plan states that twenty 2-inch squares of the incoming material must be checked and if 3 or less squares are imperfect, the lot is accepted. What is the

    A tire company has developed a new type of tire: Probability analysis of miles

    A Tire company has developed a new type of tire. Extensive testing shows that the number of miles the new tire will run before wearing out is normally distrubuted with a mean of 40,000 miles and a standard deviation of 4,000 miles (Hint: Sketch bell shaped curves for the three questions below. a) What is the probability that

    Azure Valley Electric average outage cost; TRP is offering ski chalet condos

    1. Azure Valley Electric Co-operative has for many years contracted with a neighboring utility to handle emergency service requests which occur, primarily due to storm damage, at the average rate of 2 per hour. It now feels that it should probably assume this responsibility itself and has been presented with two proposals for v

    A nationwide real estate company claims average time to sell a home is 57 days

    1. A nationwide real estate company claims that its average time to sell a home is 57 days. Suppose it is known that the standard deviation of selling times is 12.3 days and that selling times are normally distributed. a. Assuming the company's claim is true, if one home is selected at random, what is the probability t

    Setting up a probability distribution

    Fast Service Store has maintained daily sales records on the various size 'Cool Drink' sales. These are shown in the following table: 'Cool Drink' Price Number Sold $0.25 75 $0.35 120 $0.50 125 $0.75 50 a.Set up a probabili

    Statistics: Probability value, Probability distribution

    See attached file for formulas. 2. Based on FAA estimates the average age of the fleets of the ten largest U.S. commercial passenger carriers is 13.4 years with a standard deviation of 1.7 years. Suppose that 40 airplanes were randomly selected from the fleets of these ten carriers and were inspected for cracks in the airplan

    Determining EMV & EOL for vendor at baseball stadium

    Q3. Determining EMV & EOL A vendor at the a baseball stadium must decide whether to sell ice cream or soft drinks at today's game. The vendor believes that that the profit will depend on the weather. On the basis of her past experience at this time of year, the vendor estimates the probability of warm weather as 0.60 and cool

    Probability distribution that you will receive a sample mean grand prize

    Game show shows you a large revolving drum containing four identical white envelopes that have been thoroughly mixed in the drum. Each of the envelopes contains one of four decks made out for grand prizes of 20, 40, 60, and 80 thousand dollars. Usually, a contestant reaches into the drum, selects and envelope, and receives the g

    Probability Density Function (PDF)

    Let X have probability density function (pdf) f(x) = x^2 / 24; - 2 < x < 4 and zero otherwise. Find the pdf of Y=X^2. Please use the method of transformations to solve it, and show all the steps of the solution to help me understand how it is solved.

    Probability Distribution Function

    Please show all the steps in the solution because it will help me understand how it is solved. If X is Weibull distributed, X ~ WEI(theta, beta), find both the CDF and PDF of the following: Z = (ln X)^2

    How to Calculate Probability for Sale of Wind Insurance

    A company examines homeowners records and sees that the mean loss from wind annually is $250 per house with std dev of $1000. They plan to sell wind insurance for $250 + estimates coverage costs & profits. i) If they sell 10,000 policies, what is the probability that annual average loss is greater than $275? ii) What shape

    Binomial & Normal Probabilities Interpretations

    Please provide step by step solution. Instructions: Solve the following problems keep the guidelines below in check. If you are calculating something using a table, the number of decimal places from the table is expected. like z=1.00, table value is .8413 (2 decimal places for z, 4 for the probability) REGARDING NUMBER

    Lottery profits, Probability Distribution, Mary's grades this semester

    Please provide step by step solution. Instructions: Solve the following problems keep the guidelines below in check. If you are calculating something using a table, the number of decimal places from the table is expected. like z=1.00, table value is .8413 (2 decimal places for z, 4 for the probability) REGARDING NUMBER

    Probability of age less then 18 when smokers started smoking

    According to recent research, 80% of adut smokers started smoking before they were 18 years old. Suppose ten smokers are randomly selected and the number of smokers who started smoking before 18 is recorded. A) Find the probability that exactly eight started smoking before turning 18 years of age. B) Find the probability

    Normal Probability: Breaking Distance of Ford F-150

    The breaking distance of a sample of Ford F-150's are normally distributed. On a dry surface, the mean breaking distance was 158 feet with a standard deviation of 7.23 feet. What is the longest breaking distance on a dry surface one of these F-150 trucks could have and still be in the 1% (best meaning shortest breaking dis

    variance and the standard deviation of the number of admissions

    The director of admissions at Kinzua University in Nova Scotia estimated the distribution of student admissions for the fall semester on the basis of past experience. Admissions Probability 1,070 0.3 1,300 0.1 1,580 0.6 -------------------------------------------------------------------------------- (1) Wha

    Decision Analysis

    1. The electric company is in the process of building a new power plant. There is some uncertainty regarding the size of the plant to be built. If the community that the plant will service attracts a large number of industries, the demand for electricity will be high. If commercial establishments ( offices and retail stores) ar

    Probability distribution of calls received by an office on Monday

    1. The number of calls received by an office on Monday morning between 8:00 AM and 9:00 AM has a probability distribution with a mean of 4. a. What type of probability distribution is appropriate for this problem? b. Determine the probability of getting no calls between eight and nine in the morning. . c. Calculate the pro

    Probability and Decision Analysis

    1. Use the normal approximation without the correction factor to find the probabilities in the following exercises. a. In a binomial experiment with n = 300 and p=.5, find the probability that P is greater than 60%. b. Repeat Part a with p = 55 c. Repeat Part a with p = .6 2. Determine the probability that in a sample

    Probability that adult smokers started smoking before

    According to recent research, 80% of adult smokers started smoking before they were 18 years old. Suppose ten smokers are randomly selected and the number of smokers who started smoking before 18 is recorded. A) Find the probability that exactly eight started smoking before turning 18 years of age. B) Find the probabili

    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

    Standard Normal Probability

    Determining the Z and X values when an area under the normal distribution curve is known. Find the value of z so that the are under the standard normal curve from 0 to z is .4772 and z is positive. Between 0 and z os (approximately) .4785 and Z is negative in the left tail is (approximately) .3565 in the right tail is (app

    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

    Normal Distribution - Probability

    Suppose that the time required to complete a 1040R tax form is normally distributed with a mean of 100 minutes and a standard deviation of 20 minutes. What proportion of 1040R tax forms will be completed in less than 60 minutes? Round your answer to at least four decimal places.