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Probability

A probability problem: computing expected values and decision making ...

There is a probability that the river will flood next year. Riverside's profits for the coming year depend on whether Laura buys the flood insurance and whether the river floods. The profits (which take into consideration the $10,000 premium for the flood insurance) for the four possible combinations of Laura's choice and river

Probability ... (Please see the attached file)

1. The number of homicides in Vermont from 1992 through 2001 is given in the following table. Find the mean, median, and mode of the data. 2. Find the standard deviation for the data shown in the table of problem #6.3. Use your answer from problems #6 and #7 to answer the following questions: a. What percent of the data i

Probability problem

If a die rolled one time, classical probability would indicate that the probability of a "two" should be 1/6. If the die is rolled 60 times and comes up "two" only 9 times, does this suggest that the die is "loaded"? Why or why not? It is reported that about 35% of adults attend sports event during the previous year. W

Probability

60 million households with personal computers were distributed as shown here with regard to geographic location and access to the internet. What is the probability that a randomly selected computer household would be in the category described by (South or Midwest or Yes)? In the category (West and No)? Access Northea

Discrete random variables and their probablility distributions

1.Thirty per cent of all patients undergoing a particular diagnostic procedure require a sedative. In a random sample of 10 patients undergoing the procedure, what is the probability that a.at least half will require a sedative? b.fewer then 3 will require a sedative? c.at least 9 will not require a sedative? 2.The durati

Random Variables Classification and Market Age

1.) Random Variables: Classification- Which of the following are continuous variables and which are discrete? a.) Speed of an airplane b.) Age of college professor chosen at random c.) Number of books in the college bookstore d.) Weight of a football player chosen at random e.) Number of lightning strikes in Rock Mountain

Normal Probability distribution applications

Problem 1) The weigh of a sophisticated running shoe is normally distributed with a mean of 12 ounces and a standard deviation of 0.5 ounces. a) What is the probability that a shoe weighs more than 13 ounces? b) What must the standard deviation of weght be in order for the company to state that 99.9% of its shoes are lea

Calculate each probability for smoking by race for males

Refer to the contingency table shown below. (a) Calculate each probability (i-vi) and explain in words what it means. (b) Do you see evidence that smoking and race are not independent? Explain. (c) Do the smoking rates shown here correspond to your experience? (d) Why might public health officials be interested in this type o

Probability and Binomial Distribution

6. The industry standards suggest that 10% of new vehicles require warranty service within the first year. A dealer sold 15 Nissans yesterday. Use equation (page 209) for part a) and Table II in back of book for part b) & c). Explain how you got values from table. a) What is the probability that none of these vehicles requi

Excel to Solve Probabilities -Distributions -Degrees of Freedom

I'm having a problem Using Excel to Solve Probabilities - Distributions - Degrees of Freedom. The question is listed below and the question with any relevant data is attached as an excel spread sheet. PROBLEM: Determine the following quantities using Excel: (a) Find the value of x such that P (t10x ? X) = 0.75, whe

Using Excel Functions to solve probability problems

Please help with the following problems. Provide the solution in an Excel spreadsheet. FACTS: The amount of time spent by North American adults watching television per day is normally distributed with a mean of 6 hours and a standard deviation of 1.5 hours. PROBLEM: (a) What is the probability that a randomly selec

Find the largest number of room reservations that this hotel can book and still be at least 95% sure that everyone who shows up at the hotel will have a room on a given night. Using 322 reservations, find the probability that at least 90% of the available rooms will be occupied on a given night. Using 322 reservations, find the probability that at least 85% of the available rooms will be occupied on a given night.

Suppose that a popular hotel for vacationers in Orlando, Florida, has a total of 300 identical rooms. Like many major airline companies, this hotel has adopted an overbooking policy in an effort to maximize the usage of its available lodging capacity. Assume that each potential hotel customer holding a room reservation, indepe

Using Excel to Solve Probability Problems [Problem 6.25 ]

I need help in using excel to solve the following problem: Problem 6.25 FACTS: Suppose that the number of ounces of soda put into a Pepsi can is normally distributed with ע =12.05 ounces and ∂ = 0.03 ounce. [Note: ע = mean and ∂ = standard deviation] PROBLEM: USE MS EXCEL TO SOLVE

The speed with which utility companies can resolve problems is very important.

The speed with which utility companies can resolve problems is very important. GTC, the Georgetown Telephone Company, reports they can resolve customer problems the same day they are reported in 70 percent of the cases. Suppose the 15 cases reported today are representative of all complaints. a. How many of the problems would

Probability of inflammation of the gums

Bad gums may mean a bad heart. Researchers discovered that 85% of people who had suffered a heart attack during a given calendar year also had periodontal disease, an inflammation of the gums. Only 29% of people who had not suffered a heart attack had periodontal disease, and only 1% of the population suffers a heart attack duri

Binomial distribution and conditional probability

2. A process follows the binomial distribution with n = 8 and p = .3. Find P(x > 6) to 4 decimal places -- x. x x x x 3. It is estimated that 3% of the athletes competing in a large tournament are users of an illegal drug to enhance performance. The test for this drug is 90% accurate. What is the probability that an athlete w

Probability, Samples, Confidence Intervals

5.6 A certain airplane has two independent alternators to provide electrical power. The probability that a given alternator will fail on a 1-hour flight is .02. What is the probability that (a) both will fail? (b) Neither will fail. (c) One or the other will fail. Show your steps carefully. 5.7The probability is 1 in 4,000,00

Waiting Line Model

Determine the Waiting Line Model and Solve Below. 6. The Bijou Theater in Hermosa Beach, California, shows vintage movies. Customers arrive at the theater line at the rate of 100 per hour. The ticket seller averages 30 seconds per customer, which includes placing validation stamps on customers parking lot receipts and punch

Probability that a technician is required

An installation technician for a specialized communication system is dispatched to a city only when three or more orders have been placed. Suppose orders follow a Poisson distribution with a mean of 0.25 per week for a city with a population of 100,000 and suppose your city contains a population of 800,000. a) What is the pr

Video game probability questions

For problem choose what type of problem it is and solve using the binomial, geometric, or Poisson distribution. A player of a video game is confronted with a series of opponents and has an 80% probability of defeating each one. Success with any opponent is independent of previous encounters. The player continues to confron

Customer Arrival Average Rate

Customers arrive to the company at a rate, on average, of one per hour with a Poisson distribution. The company is staffed by a single individual(the owner) who takes on average 30 minutes with each customer with a standard deviation of 15 minutes. a. The owner would like the average wait time to be at most around 10 minutes

Data Gathering Techniques, Frequency etc.

Final Project The Final Project is due no later than the end of Unit 9. These are the Final Project questions: Problem 1) A book inventory record contains the following information: a) Title: More Mysteries b) Author: Roger Mortimer c) Date of publication: 1998 d) List price: $25.00 e) Number in s

Continuous random variable generated

Question 2 Let X be a continuous random variable with the pdf f(x) = 42x5(1-x) 0<x<1 and let Y=X3. Suppose u=.145 is a random number generated from the uniform (0,1). Determine the corresponding random number from the distribution Y. This will involve solving a nonlinear equation by using Newton's Method. Question 3 Let F b

Probability of Machine being Tuned and Serviced

Question 1: A sensitive machine is tuned correctly for 95% of the time. If the machine is correctly tuned, the probability of spoil product is 1% if not is 40%. The first product of a test run is inspected and found to be satisfactory. What is the probability that the machine had been correctly tuned? Question 2 The s

Sample Distribution

1. An economist wishes to estimate the average family income in a certain population. The population standard deviation is known to be $4,500, and the economist uses a random sample of size = 225. a. What is the probability that the sample mean will fall within $800 of the population mean? b. What is the probability that the