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    Probability

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    Decision Trees and portfolio theory

    Q1 A company has developed two types of synthetic fuel. However it has not developed efficient manufacturing processes for either of them. It has has the option to develop the manufacturing process for both, either or none of them. They estimate that if they try to develop a process for fuel A then their probability of success

    Statistics Questions

    1.Blood cocaine concentration (mg/L) was determined both for a sample of individuals who had died from cocaine-induced excited delirium (ED) and for a sample of those who had died from a cocaine overdose without excited delirium (non-ED); survival time for people in both groups was at most 6 hours. The accompanying data comes fr

    Probability Distributions

    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 sure to include informati

    Prepare and email with an overiew of the database

    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 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 sure to include information about

    Probability & Mean Deviation

    1. A card is drawn from a deck of 52 cards. What is the probability that it is an ace or a six? 2. The proability that a person has immunity to a particular disease is 0.3. Find the mean and standard deviation for the random variable x, the number of people who have immunity in samples of size 28. 3. The variable X is norm

    Conditional probability problems: What is the probability that a student who has failed the test came from the south district? What is the probability that a student from the entire school system, chosen at random, has passed?

    1.) a metropolitan school system consists of two districts- north and south. the north district contains 60% of all students, and the south district contains 40% of all students. a minimum competency test was given to all students. 10% of the north district students failed, and 15% of the south district students failed. What

    Probability

    A group of n people meet at lunch for a cup of coffee. They play a game to see who gets to pay for all the coffees. Each person flips a coin. If all the coins come up the same except for one person, then that one person gets to pay for all the coffee. If the coins do not result in this way, then everyone flips again until there

    Normal Probability: Lifetime of Participants in an Annuity Plan

    A company that sells annuities must base the annual payout on the probability distribution of the length of life of the participants in the plan. Suppose the probability distribution of the lifetimes of the participants is approximately a normal distribution with a mean of 68 years and a standard deviation of 3.5 years. A ran

    Probability Distributions

    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 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 sure to include information abou

    Probability Distributions

    Refer to the Real Estate data, which reports information on homes sold in the Denver, Colorado, area last year. a. Create a probability distribution for the number of bedrooms. Compute the mean and the standard deviation of this distribution. b. Create a probability distribution for the number of bathrooms. Compute the mea

    Normal Probability and Z-score

    Lab technicians at a major mdical lab can process an average of 400 blood samples a day with a standard deviation of 50 samples. The processing follows a normal distribution. Convert 445 blood samples into a z-value (standard score). What is the area under the normal curve between 400 and 482? What is the area under the nor

    Probability distribution table

    The hospital keeps careful track of the number of emergency room visits and is particularly interested in tracking the number of patients during the summer months (historically the peak of the ER visits). Last summer ( a90-day period covering June-July-August), the number of patients seen is X The results are on the table belo

    Probability for a Ball Season

    Bob Jones of the Alaskan Bears baseball club had the highest batting average in the 2000 Major League Baseball season. His average was .335. So assume the probability of getting a hit is .335 for each time he batted. In a particular game assume he batted three times. a. This is an example of what type of probability? b. Wh

    Normal Approximation of the Binomial

    See the attached file. According to a recent census, 52.2% of New York residents are male. Suppose a group of 100 New York residents are selected at random. A) What is the mean and standard deviation of the number of male members of the group? B) Use the normal approximation to find the probability that less than half of th

    Statistics - Probability.

    Probability : Suppose a fraction 5% of the circuits produced by a circuit manufacturer is defective. Historically, given that the circuit is defective, the inspector (wrongly) accepts the circuit 10% of the time, thinking that there is no defect. If a circuit is not defective, he always correctly ... (Please see attachment) Thi

    A Simpe Probability Problem

    At a party there are 30 students over age 21 and 20 students under age 21. You choose at random 3 of those over 21 and separately choose at random 2 of those under 21 to interview about attitudes toward alcohol. You have given every student at the party the same chance to be interviewed: what is that chance?

    Normal Probability: Auto Repair Job

    An auto repair shop takes an average of 45 minutes to complete a repair job. The owner of the shop has determined the repair time has a standard deviation of 7 minutes. A customer comes into the shop and states that she will return in 35 minutes -- at which time she must have the car ready to drive off. Using the normal probabil

    Probability/dependency

    Age effects in medical care. The type of medical care a patient receives may vary with the age of the patient. A large study of women who had a breast lump investigated whether or not each woman received a mammogram and a biopsy when the lump was discovered. Here are some probabilities estimated by the study. The entries in the

    Probabilities

    Refer to the Real Estate data (attached), which reports information on homes sold in the Denver, Colorado, are during the last year. a. Sort the data into a table that shows the number of homes that have a pool versus the number that don't have a pool in each of the five townships. In a home is selected at random, compute the

    General Statistics

    1. The weekly salaries of teachers in one state are normally distributed with a mean of $490 and a standard deviation of $45. a. What is the probability that a randomly selected teacher earns more than $525 per week? b. What is the probability a randomly selected teacher earns less than $435 per week? 2. The i

    Probability of a sample proportion

    A market research firm conducts telephone surveys with a 40% historic response rate. What is the probability that in a new sample of 400 telephone numbers, at least 150 individuals will cooperate and respond to the questions? In other words, what is the probability that the sample proportion will be at least 150/400=.375

    Financial advisor using Decision Tree

    A financial advisor has recommended two possible mutual funds for investment: Fund A and Fund B. The return that will be achieved by each of these depends on whether the economy is good, fair, or poor. A payoff table has been constructed to illustrate this situation: Investment Good Economy Fair economy Poor Economy Fund A $10

    Statistics questions

    1. The table below describes the smoking habits of a group of asthma sufferers. Nonsmoker Occasional Regular Heavy Total _________ Smoker Smoker Smoker_______ Men 424 39 72 36 571 Women 360 46 77 44 527_ Total 784 85 149 80 1098 a. If one of the people is randomly selected, find the probability of getti

    Probabilities, z scores and distributions

    1. Two hundred raffle tickets are sold. Your friend has 5 people in her family who each bought two raffle tickets. What is the probability that someone from her family will win the raffle? 2. Answer the following: a. What does it mean to say that x = 152 has a standard score of +1.5? b. What does it mean to say that a

    Probability Exclusive Events

    1. The events A and B are mutually exclusive. Suppose P(A) = .30 and P(B) = .20. What is the probability of either A or B occurring? What is the probability that neither A nor B will happen? 2. A study by the National Park Service revealed that 50% of vacationers going to the Rocky Mountain region visit Yellowstone Park, 4

    5 Statistics Questions

    1. Assume that 12 jurors are selected from a population in which 50% of the people are Mexican-Americans. The random variable X is the number of Mexican-Americans on the jury. X 0 1 2 3 4 5 6 7 8 9 10 11 12 P(x) 0.000 0.003 0.016 0.054 0.121 0.193 0.226 0.193 0.121 0.054 0.016 0.003 0.000 a. Find the probability of exac

    Discussion questions

    1. This Discussion directs students to analyze a financial plan that realistically portrays a typical budgeting scheme. Students will calculate a mortgage payment and the effects of interest and financing on their budget. Last name ANG a. Select the first three letters of your last name. Each letter has a numerical pl

    Simple Statistics Problems (Entry Level)

    4. For a population with μ=50 and σ=10. a. Find the z-score for each of the following X values. (Note: You should be able to find these values using the definition of a z-score. You should not need to use a formula or do any serious calculations.) X = 55 X = 60 X = 75 X = 45 X = 30 X = 35 b. Find the score (X

    Sampling Distribution

    Problem 1: The mean television viewing time for Americans is 15 hours per week (Money, November 2003). Suppose a sample of 40 Americans is taken to further investigate viewing habits. Assume the population standard deviation for weekly viewing time is o = 3 hours. a. What is probability the sample mean will be within 1 h