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Probability

Normal Probability of Household Spending

It has been reported that households in the West spend an annual average of $6050 for groceries. Assume a normal distri- bution with a standard deviation of $1500. a. What is the probability that a randomly selected Western household spends more than $6350 for groceries? b. Ho

Formulas for Discrete Probability Distributions

See attached file - Formulas for Discrete Probability Distributions A discrete random variable can have the values, x = 3, x = 8, or x = 10, and the respective probabilities are 0.2, 0.7, and 0.1. Determine the mean, variance, and standard deviation of x. (6.5)

Statistics Case Study: WTVX

Case Study WTVX WTVX, Channel 6, is located in Eugene, Oregon, home of the University of Oregon's football team. The station was owned and operated by George Wilcox, a former Duck (University of Oregon football player). Although there were other television stations in Eugene, WTVX was the only station that had a weatherper

Probability of people buying a particular model of car: estimate projects

Complete the practice question in an excel spreadsheet and display the profit for each model in a bar chart. After 12 months in business, you discover that only 10 percent of people who walk through your doors will be buyers. Of those who buy vehicles, the breakdown of vehicle purchases is as follows: VW Golf 15% Saab

Probablity: Computer Specialty Manufacturer Support Department

A computer specialty manufacturer has a two-person technical support staff who work independently of each other. In the past, Tom has been able to solve 75% of the problems he has handled, and Adam has been able to solve 95% of the problems he has handled. Incoming problemsm are randomly assigned to either Tom or Adam. If a

Probability: Investment Counselor's time schedule

An investment counselor would like to meet with 12 of his clients on Monday, but he has time for only 8 appointments. How many different combinations of the clients could be considered for inclusion into his limited schedule for that day? NOTE: When using calculations, please use an Excel spreadsheet or submit the response so

Probability that Graduating student will be a member of a sports team

There are 100 males and 120 females in the graduating class of a local high school. Thirty-five percent of the graduating males are on school sports teams, as are 30% of the graduating females. A local businessperson is going to donate $1,000 to the favorite charity of a randomly selected graduate. What is the probability th

Concepts of Probability: Trophy Awards for 'Citizen of the Year'

Ten prominent citizens have been nominated for a community's "Citizen of the Year" award. First- and second-place trophies are awarded to the two persons receiving the highest and second-highest number of votes. In how many different ways can the trophies be awarded? (5.52) Note: Please use an Excel spreadsheet to s

Concepts of Probability

Fire Fatalities If computations are used, please use an Excel worksheet to show them or state response in a form that can be transferred to a spreadsheet. Using the table below, how many victims were in the category described by: a. (A and A′)? b. (C or F)? c. (A&#8242

Odds that a US adult attended a sports event

It has been reported that about 35% of U.S. adults attended a sports event during the previous year. What are the odds that a randomly selected U.S. adult attended a sports event during the year? (5.8)

Statistics for Managers: Normal distribution, random sample, standard deviation

Given a normal distribution with a population mean of 100, a standard deviation of 10 and a sample size of n = 25, what is the probability that X is a. less than 95? b. between 95 and 97.5? c. above 102.2? d. There is a 65% chance that X is above what value? Time spent using e-mail per session is normally distributed,

Probability: Which Portfolio Would You Recommend?

You are trying to develop a strategy for investing in two different stocks. The anticipated annual return for a $1000 investment in each stock has, in your opinion, the following probability distribution: Returns: Probability Stock A Stock B 0.1 -$100

Binomial Distribution: Infectious and Pulmonary Disease

1. Infectious disease question: Evaluate the probabilities of obtaining k neutrophils out of 5 cells for k=0,1,2,3,4,5 where the probability that any one cell is a neutrophil is 0.6. Find the expected number and standard deviation of neutrophils of the 5 cells. 2. Pulmonary disease question: Compute the probability of obta

Normal Probability: Average cost of renting a compact car

The average cost of a renting a compact size car in a major metropolitan area is R51.74 with a standard deviation of 7.48. Assume a normal distribution. If a sample of 20 cities is taken, what is the probability that the sample mean will fall between 47.74 and 55.74

Statistics for Managers: S&P 500's Performance; got news from newspapers

See attached file for problem 2. 1. Can the problem title "basic probability" be solved using excel? If yes, please explain step-by-step on excel. Please also include any formulas and how you reach the conclusion. For this question, disregard part d. In 37 of the 59 years from 1950 through 2008, the S&P 500 finished highe

Overall Probability Ratings for Decision variables

I have the following: Decision Variable A: rating =80% weighting = 5% Decision Variable B: rating = 30% weighting =10% Decision Variable C: rating = 53% Weighting = 50% Decision Variable D: rating = 10% weighting = 15% Decision Variable E: rating = 57% weighting = 20% Determine the overa

Exponential distribution for electrical component; average credit card debt

1. The useful life of an electrical component is exponentially distrbuted with a mean of 2500 hours. (a) what is the probability the circuit will last more than 3000 hrs. (b) what is the probability the circuit will last between 2500 and 2750 hours (c ) what is the probability the circuit will fail within the first 2000 hr

Probability of annual rainfall

Annual rainfall in Boquete, Panama is normally distributed with a mean of 43 inches, and a standard deviation of 3.8 inches. What is the probability that this year's rainfall exceeds 35 inches? A. 0.9824 B. 0.3285 C. 0.7692 D. 0.5

Statsistics for Alberta insurance company policyholder claims

Note that answers are given. Please show the workings to arrive at the answers. An auditor for an insurance company in Alberta reports 40 percent of the policyholders 55 years or older submit a claim during the year. 15 policyholders are randomly selected for company records a) how many of the policyholders would you expe

Finding the nominal coverage rate for CI

Students in the industrial statistics lab at ASU calculate a lot of confidence intervals on mu. Suppose all these CIs are independent of each other. Consider the next one thousand 95% CIs that will be calculated. How many of these CIs do you expect to capture the true value of mu? What is the probability that between 930 and

Statistics - Text Message and Winter Olympics

Please see attachment and explain all work. #1 Suppose that 40% of all cell phone owners have sent or received text messages. A sample survey interviews an SRS of 2000 cell phone owners. a) What is the actual distribution of the number X in the sample who have sent or received text messages? b) What is the probability

Standard Deviation

Jim's systolic blood pressure is a random variable with a mean of 145 mmHg and a standard deviation of 20 mmHg. For Jim's age group, 140 is the cutoff for high blood pressure. If Jim's systolic blood pressure is taken at a randomly chosen moment, what is the probability that it will be, (a) 135 or less? (b) 175 o

Probability of Passing a Spelling and Grammar Test

Using Excel, please demonstrate use of functions to solve the following probability problem. Tired of careless spelling and grammar, a company decides to administer a test to all job applicants. The test consists of 20 sentences. Applicants must state whether each sentence contains any grammar or spelling errors. Half the sen

Stock Return Calculation using Normal Distribution

Farrell Corporation's common stock is $25. The price is expected to increase by $5 over the coming year. The standard deviation of the expected price is $3. The distribution of the end of year possible price is approximately normal. Determine the probability of earning a return greater than 30 percent over the coming year from

Normal probability distribution: Errors on tax returns by Dotties Tax Service

Dotties Tax Service specializes in federal tax returns for professional clients, such as physicians, dentists, accountants, and lawyers. A recent audit by the IRS of the returns she prepared indicated that an error was made on 15 percent of the returns she prepared last year. Assuming this rate continues into this year and she p