Explore BrainMass

Explore BrainMass

    Probability

    BrainMass Solutions Available for Instant Download

    Random Samples

    1. A Private firm reports that 8% of the 2 million small businesses who apply for loan each year receive special interest rate (usually higher than market rate) because of high riskiness associated with small business. Consider a random sample of 25 small businesses who have recently applied for the loan a. What is the probab

    Probability Statistics: 1. In a genetics experiment on peas, one sample of offspring contained... 2. With one method of a procedure called acceptance sampling ... 3. Evaluate the given expression and express the result using ... 4. Determine the written description of the complement ... 5. A "combination" lock is opened with the correct sequence of three numbers ... 6. A certain lottery is won by selecting the correct four numbers ... 7. The data in the following table summarizes blood groups and RH types ...

    1. In a genetics experiment on peas, one sample of offspring contained 450 green peas and 1523 yellow peas. Based on those results, estimate the probability of getting an offspring pea that is green. Is the result reasonably close to the value of ¾ that was expected? The probability of getting a green pea is approximately

    Queuing Theory - Single-Channel Waiting Line Model

    Marty's Barber Shop has one barber. Customers have an arrival rate of 5 per hour. Use the Poisson arrivals and exponential service times model to answer the following questions: a). What is the probability that no units are in the system? b). What is the probability that one customer is receiving a haircut and no one is wait

    Powerball Winning Combinations, Prizes, and Probabilities

    Case Study: The Powerball 1. Review the case study on page 157 of the textbook. See other attachments 2. Recall that for a single ticket a player first selects five numbers from the numbers 1-55 and then chooses a Powerball number, which can be any number between 1 and 42. A ticket costs $1. In the drawing five white balls are

    Statistical Analysis of 1000 Long Distance Telephone Calls

    A statistical analysis of 1000 long distance telephone calls made from the headquarters of the Bricks and Clicks Computer Corporation indicates that the length of these calls is normally distributed with u=240 seconds and sigma = 40 seconds. a. What is the probability that a call lasted less than 180 seconds. b. What is the

    Probability of Customer Complaints

    Suppose that four inspectors at a film factory are suppose to stamp the expiration date on each package of film at the end of the assembly line. John, who stamps 20% of the packages, fails to stamp the expiration date once in every 200 packages. Tom, who stamps 60% of the packages, fails to stamp the expiration date once in ever

    Statistics - Probability

    A candy company distributes boxes of chocolates with a mixture of creams, toffees and cordials. Suppose that the weight of each box is 1 kilogram, but the individual weights of the creams, toffees and cordials vary from box to box. For a randomly selected box, let X = weight of creams and Y =weights of the toffees and the pdf

    Probability of union: Basic

    Let B and C be two events such that P(B)=0.13 and P(C)=0.01 . (a) Determine P(B union C) , given that B and C are mutually exclusive . (b) Determine P(B union C) , given that B and C are independent . Do not round your responses. (a) = (b) =

    Probability of intersection or union: Word problems

    WLD Incorporated, a national data-collection agency, estimates that 55% of all customers at home warehouse stores (in the United States) own their own home. WLD also estimates that 30% of all home warehouse customers have lived at their current address for less than five years, and that 58% of all home warehouse customers own th

    Discrete probability distribution: Basic

    Fill in the P(X=x) values in the table below to give a legitimate probability distribution for the discrete random variable X , whose possible values are -1 ,0 ,1 ,3 , and 6. Value x of X P(X=x) -1 0.22 0 0.26 1 0.19 3

    Combinations and Factorials

    From a group of 18 customers, 4 are to be chosen to receive a special gift. Assuming that the order in which the customers are chosen is irrelevant, how many groups of 4 customers can be chosen?

    Probability - Multi Project

    B6. (Expected return and risk) Procter & Gamble is considering three possible capital investment projects. The projected returns depend on the future state of the economy as given here. State of the Probability of Projected Return Economy Occurance 1 2 3 Recession 0.1 9% 3% 15% Stable 0.7 13% 10% 11% Boom

    Probability

    The mayor of a small town would like to know whether a local bond issue is likely to pass or not. He mails a survey to 500 randomly selected voters. How many returns must he get in order to know the proportion that will support the bond issue within an error of 5% and a confidence level of 95%? If he gets a 60% return from th

    Probability a Meeting will Take Place

    A corporate executive officer is attempting to arrange a meeting of his three vice presidents for tomorrow morning. He believes that each of these three busy persons, independently of the others, has about a 60% chance of being able to attend the meeting. If the meeting will be held tomorrow morning only if everyone can atten

    Probability

    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 all steps carefully

    Probability of a Major

    At a certain school, there were 600 science majors, 200 engineering majors, and 500 business majors. If a student is selected at random, what is the probability that the student is an engineering major?

    Binomial Probability Distributions

    Given the following information about motor vehicles, motor vehicle accidents and cost of repair for last year: # of registered motor vehicles (millions) 215 # of vehicles involved in an accident (millions) 21.3 Cost of accident ($ billions) 192 A) What is the probability that a randomly selected vehicle is involved i

    Binomial Probability Distributions

    Assume a restaurant business succeeds 60% of the time. Suppose that there are three such restaurants open in your city. When they don't compete with one another, it is reasonable to believe that their relative success would be independent. [Hint:use binomial probability distribution function in Megastat or Phstat] A) What is th

    Probability of Average Height

    The average height of a willow tree in a nursery is 11 ft. If the heights are normally distributed with a standard deviation of 1.6, find the probablility that a randomly selected willow tree in a nursery is less than 13 ft.

    Decision Analysis Problem

    A vendor at the a baseball stadium must decide whether to sell ice cream or soft drinks at today¿s game. The vendor believes that that the profit will depend on the weather. On the basis of her past experience at this time of year, the vendor estimates the probability of warm weather as 0.60 and cool weather as 0.40. The payoff

    Help needed with probabilities

    See attached file which includes the data, The attached excel file contains data obtained from 274 couples regarding their education level, annual salary, the value of the cars that they own, the value of their homes, their total savings value (including stocks and bonds) and their social climber index (scale of 1-10, where

    Statistics of Airplanes Failing

    # 5.62: A certain airplane has two independent alternators to provide electrical power. The probabilty 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 all steps carefully. a) The likelihood that the first

    Probabilities in transmitting messages with noise.

    When a message is sent electronically, it is usually sent as a stream of bits, each of which can be either a 0 or 1. If the digital channel is noisy, then each bit has some probability of being flipped. Assume that a message is sent through a noisy channel where the probability that any individual bit will be flipped is 0.2.

    Binomial distribution

    According to a recently conducted survey, 90% of all drivers in Trinidad and Tobago claim to consistently driver over the legal speed limit. Assume that this result is true for the current population of the Cayman Islands. Find the probability that, in a random sample of 20 drivers: 1. None of them drive over the legal limi

    Quantitative Methods

    Management Science 1. There is a fixed cost of $50,000 to start a production process. Once the process has begun, the variable cost per unit is $25. The revenue per unit is projected to be $45. Find the break-even point. 2. Administrators at a university are planning to offer a summer seminar. It costs $3000 to reserve

    Probabilities and statistics for a random variable

    1. Let f(x) = 2e^(-(x-3)/c), 3 < x < infinity (zero otherwise) be a p.d.f. of a random variable X. a. Find c b. Find the CDF of X and sketch the CDF c. Compute P(-5 < X < 10) 2. A candy maker produces mints that have a label weight of 30 grams. Assume that the distribution of the weights of these mints is N(30, 2^2).

    Binomial Distribution of Insurance Policy

    5. An insurance policy reimburses a loss in excess of a 250 deductible. The policyholder's loss, X, follows an exponential distribution with mean 1,000. What is the expected value of the benefit paid under this insurance policy? The attachment contains 2 other problems.

    Find probability of height

    A survey was conducted to measure height of men. In survey, respondents were grouped by age. In the 20-29 age group, the heights were normally distributed, with a mean of 69.2 inches and a standard deviation of 2.0 inches. a) Find probability that his height is less than 66 inches? b) Find probability that his height is