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    Probability

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    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

    Sampling Distribution of Sample Mean: IQ Scores

    The population of IQ scores forms a normal distribution with a mean of u=100 and a standard deviation with a mean of sigma=15. What is the probability of obtaining a sample mean greater than m=105 for a random sample of n=9 people? How do I set this problem up, what is the correct formula?

    Probability of 1.5% defective Nokia cell phone antennas

    PLEASE SHOW ALL THE WORK 62. Suppose 1.5 percent of the antennas on new Nokia cell phones are defective. For a random sample of 200 antennas, find the probability that: a. None of the antennas is defective. b. Three or more of

    Binomial Probability: Defective Pieces

    A Tamiami shearing machine is producing 10 percent defective pieces, which is abnormally high. The quality control engineer has been checking the output by almost continuous sampling since the abnormal condition began. What is the probability that in a sample of 10 pieces: a. Exactly 5 will be defective? b. 5 o

    Statistics: Probability that 3 loans will be defaulted for Coast Bank and Trust

    Ms. Bergen is a loan officer at Coast Bank and Trust. From her years of experience, she estimates that the probability is .025 that an applicant will not be able to repay his or her installment loan. Last month she made 40 loans. a. What is the probability that 3 loans will be defaulted? b. What is the probability that at le

    Hyper Peometric Probability: Defective Television Sets

    Kolzak Appliance has just received a shipment of 10 TV sets. Shortly after they were received, the manufacturer called to report that he had inadvertently shipped 3 defective sets. Ms. Kolzak, decided to test 2 of the 10 sets she received. What is the probability that neither of the 2 sets tested is defective? Pls find the pr

    Scores on a standardized aptitude test: minimum score to be in the top 25%

    The distribution of scores on a standardized aptitude test is approximately normal with a mean of 500 and a standard deviation of 105 . What is the minimum score needed to be in the top 25% on this test? Carry your intermediate computations to at least four decimal places, and round your answer to the nearest integer.

    EMV Problem for Page Engineering

    Page Engineering designs and constructs air conditioning and heating (HVAC) systems for hospitals and clinics. Currently the company's staff is overloaded with design work. There is a major design project due in 8 weeks. The penalty for completing the design late is $14,000 per week, since any delay will cause the facility to

    Decision Tree for sale of artwork of Mill River's ice skaing park

    Residents of Mill River have fond memories of ice skating at a local park. An artist has captured the experience in a drawing and is hoping to reproduce it and sell framed copies to current and former residents. He thinks that if the market is good he can sell 400 copies of the elegant version at $1.25 each. If the market is

    Probability: Visiting Yellowstone Park & Tetons

    50 percent of travelers going to visit the Rocky Mountains visit Yellowstone Park, 40 percent visit the Tetons and 35 percent visit both - What do you think the probability a vacationer will visit at least one of these attractions, what do you think a probability .35 is called and are these events mutually exclusive, please e

    Probability that company will not lose any money next quarter

    There is a 50 percent chance this company will earn a profit, a 30 percent chance it will break even, and a 20 percent chance it will lose money next quarter- Use the addition rule to file the probability of the company will not lose any money next quarter, and use the complement rule to find the probability rule it will not

    Gender equity experiment: probability to estimate

    A company will promote two employees out of a group of six men and three women, what would you say the chances of this experiment if there is particular concern about gender equity and which concept of probability would you use to estimate these probabilities?

    Sample of Licensed Drivers with Speeding Violations

    A sample of 2,000 licensed drivers revealed the following number of speeding violations Number Number of drivers 0, 1, 2, 3, 4, 5 or more 1,910, 46, 18, 12, 9, 65 Total 2,000 What kind of experiment is this, what is one possible event, what do you think the pr

    Probability: Hiring Minority Candidates

    A company must hire a new CFO and prepares a final list of five candidates - all are equally qualified. Two of the candidates are members of a minority of a minority group. To avoid bias in the selection of the candidate, the company decides to select the president by lottery. What is the probability one of the minority cand

    Probability

    62. Suppose 1.5 percent of the antennas on new Nokia cell phones are defective. For a random sample of 200 antennas, find the probability that: a. None of the antennas is defective. b. Three or more of the antennas are defective.

    Probability

    38. One-fourth of the residents of the Burning Ridge Estates leave their garage doors open when they are away from home. The local chief of police estimates that 5 percent of the garages with open doors will have something stolen, but only 1 percent of those closed will have something stolen. If a garage is robbed, what is the p

    Standard normal probabilities variable

    Standard normal probabilities Let Z be a standard normal random variable. Calculate the following probabilities using the calculator provided. Round your responses to at least three decimal places. P (z > - 0.82) = P (z &#8804; 0.77) = P( -0.81 < z < 1.25) =

    Expectation and variance: sample solution

    Let be a random variable with the following probability distribution: Value Value x of X P(X=x) 4 0.30 5 0.05 6 0.20 7 0.30 8 0.10 9 0.05 Find the expectation E(X) and variance of VAR(X) of X