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Probability

Statistics: Indicated Probability in consumer smoking habits

A study of consumer smoking habits includes 169 people in the 18-22 age bracket (46 of whom smoke), 126 people in the 23-30 age bracket (38 of whom smoke), and 100 people in the 31-40 age bracket (22 of whom smoke). If one person is randomly selected from this sample, find the probability of getting someone who is age 23-30 or s

Statistics: What is the probability of winning the lottery?

In a certain lottery, five different numbers between 1 and 36 inclusive are drawn. These are the winning numbers. To win the lottery, a person must select the correct 5 numbers in the same order in which they were drawn. What is the probability of winning?

The mean amount purchased by a typical customer at Churchill's Grocery Store is $23.50 with a standard deviation of $5.00. Assume the distribution of amounts purchased follows the normal distribution. For a sample of 50 customers, answer the following questions.

The mean amount purchased by a typical customer at Churchill's Grocery Store is $23.50 with a standard deviation of $5.00. Assume the distribution of amounts purchased follows the normal distribution. For a sample of 50 customers, answer the following questions. a. What is the likelihood the sample mean is at least $25.00? b

Emails received by Lahey Electronics employees: test probabilities

An internal study by the Technology Services department at Lahey Electronics revealed company employees receive an average of two emails per hour. Assume the arrival of these emails is approximated by the Poisson distribution. a. What is the probability Linda Lahey, company president, received exactly 1 email between 4 P.M. a

Statistics : Hypergeometric Distributions

IRS Audits. A sample of 25 returns is selected from young couples between the ages of 20 and 35 who had an adjusted gross income of more than $100,000. Of these 25 returns five had charitable contributions of more than $1,000. Suppose four of these returns are selected for a comprehensive audit. a. Explain why the hyper

Statistics: Defective Clock Radios

In a batch of 8,000 clock radios 9% are defective. A sample of 15 clock radios is randomly selected without replacement from the 8,000 and tested. The entire batch will be rejected if at least one of those tested is defective. What is the probability that the entire batch will be rejected?

Calculating Probabilities: Examples

In a certain class of students, there are 9 boys from Wilmette, 5 girls from Kenilworth, 7 girls from Wilmette, 6 boys from Glenco, 5 boys from Kenilworth and 3 girls from Glenoce. If the teacher calls upon a student to answer a question, what is the probability that the student will be from Kenilworth?

Probability of Argentina consumer selections

Based on the table given in the attached file: 1. What is the probability that a consumer selected at random purchased fewer products than before? Round to 4 decimal places. 2. What is the probability that a consumer selected at random purchased the same number or more products than before? Round to 4 decimal places. 3

Determining the probabilities of percentage of population

Based on the table shown in the attached file: 1. On average, what percentage of the people in the fifty states and the District of Columbia does not have health insurance? Round to 2 decimal places. 2. Based on the data above, what is the median percentage of people who do not have health insurance in the fifty states and

Probability of Loan Request Being Approved: Example Problem

Ann is applying for a bank loan to open a pizza franchise. She must first complete a written application and then, if the written application is approved, be interviewed by bank officers. If an applicant's written application is not approved the applicant is not granted an interview with the bank officers. Past records fo

Email to AIU: value of statistics and probability used in business

See file attached. Using our data set from Unit 1, compose an email to the head of the American Intellectual Union which discusses the following: Begin your email to AIU by first providing an overview of the database, i.e. a story about the characteristics which may include the types of variables included, etc. Be sur

Statistics problem

I need help with these specific questions on my homework. I did the rest but can't figure these out. Please include an explanation because I don't want to get behind by not understanding how to solve these questions. I'm already struggling enough - don't need to add more to it. 1. A distribution has a standard deviation of

Trend projection and seasonal factors to simulate sales

A firm uses trend projection and seasonal factors to simulate sales for a given time period. It assigns "0" if sales fall, "1" if sales are steady, "2" if sales rise moderately and "3" if sales rise a lot. The simulator generates the following output. 0,1,0,2,2,0,0,1,2,3,2,0,2,0,2,2,1,2,3,1,2,2,2,0,3,0,0,2,1,2,1 Estimate

Statistics: Five Random Variable problems

Learning objectives: distinguish between discrete and continuous random variable; compute statistics about random variable; compute statistics about a function of a random variable; compute statistics about the sum of a linear composite of random variables; identify which type of distribution a given random variable is most like

Probability - Random Samples

According to the U.S. Census Bureau, the mean household income in the United States in 2000 was $57,045 and the median household income was $42,148 (U.S. Census Bureau, "Money Income in the United States: 2000," www.census.gov, September 2001). The variability of household income is quite large, with the 10th percentile approxi

binomial probability formula

The probability that a business owner will go bankrupt in it first year is .34. For 25 like businesses, find the probability first by using the binomial probability formula, and then by using the normal approximation. a. exactly 9 go bankrupt b. No more than 3 go bankrupt

Probability: Weather, Lottery, Outfits for the Year

1. There is a 20% probability of rain tomorrow means that: a. Tomorrow it will be raining during 0.2 of the day, and the rest of the day it will be clear. b. Out of the next 5 days, one day it will be raining. c. According to the records, if a weather like one we have today occurred in the past, then 20% of cases it w

Finding hypotheses for statistics

A sample of 20 is taken, resulting in a mean of 16.45 and standard deviation of 3.59. Assume that x is normally distributed and used alpha of 0.5 to test hypotheses. ho:u=16 ha:doesn't=16 i know for this problem you would use the p^+or-z(sqaureroot of p times q over n) But i am unsure after you plug those numbers which table

Probability: Binomial Tends to Normal

Effectiveness White flies are devastating California crops. An area infested with white flies is to be sprayed with a chemical which is known to be 98% effective for each application. Assume a sample of 1000 flies is checked. Find the approximate probability that no more than 986 of the flies are killed in one application.

Statistics: 4 problems about random variables and their probability distributions

3-44 A real estate agent has four houses to sell before the end of the month by contacting prospective customers one by one. Each costumer has an independent 0.24 probability of buying a house on being contacted by the agent. a) If the agent has enough time to contact only 15 customers, how confident can she be of selling a

Statistics: graduate and undergraduate students

The local college enrollment program evenly admits undergraduate and graduate students. If a random sample of 4 students is selected from the program to be questioned about the possibility of a study abroad program, what is the probability that all 4 students selected are undergraduate students?

Statistics M2: Six comprehensive problems

1. An auto supply store uses a fixed order size with safety stock system to control the inventory of a type of motor oil it sells. Demand for the oil averages 20 units per day (7300 units per year) and the standard deviation of the daily demand is 4.3 units. For this item, the cost of placing each order is $35. The store purchas

Binomial Probability: Guessing Answers

Each question has 5 possible answers of which only one is correct. a) What is the probability the student will guess them all right? b) The probability that he will guess AT MOST 12 correct. c) The probability that he will guess at least one correct. d) The mean and standard deviation of the number of the correct ans

Statistics: Union and intersection problems

1) Let G be the event that a girl is born. Let F be the event that a baby over 5 pounds is born. Characterized the union and the intersection of the two events? 2) Consider the event that a player scores a point in a game against team A and the event that the same player scores a point in a game against team B. What is the u