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    Probabilities of Life Insurance Purchase

    In a typical month, an insurance agent presents life insurance plans to 40 potential customers. Historically, one in four such customers chooses to buy life insurance from this agent. Based on the relevant binomial distribution, answer the following questions; a) What is the probability that exactly 5 customers will buy life

    Weekly Demand of a Fiat Car

    The weekly demand for Fiat car sales follows a normal distribution with mean 50,000 cars and standard deviation 14,000 cars. a) There is a 1% chance that Fiat will sell more than what number of cars next year? b)What is the probability that Fiat will sell between 2.4 and 2.7 million cars during the next year? Please a

    Using Excel and Probabilities to Analyze a Dataset

    Using the attached data set, compose an email to the head of the American Intellectual Union (AIU) which discusses the following: - Begin your email to the AIU by first providing an overview of the database, i.e. a story. - Be sure to include information about how you would use the concept of probabilities to apply to prof

    Probability Distributions for AIU job satisfaction 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 by first providing an overview of the database, i.e. a story. Be sure to include information about how you would use the concept of probabilities to apply to profiles for hiring mo

    Binomial Probability for Professional Baseball

    1. 34% of women consider themselves fans of professional baseball. You randomly select six women and ask each if she considers herself a fan of professional baseball. Construct a binomial distribution using n=6 and p=0.34

    Probablity questions

    I would like some help with the following questions please: 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 a

    Sampling, Central Limit Theorem and Confidence Intervals Discussion Questions

    Exercise 1 From Chapter 7 of Lind, submit your responses to problem #16 on pp. 237 The mean of a normal probability distribution is 400 pounds. The standard deviation is 10 pounds. What is the area between 415 pounds and the mean of 400 pounds? What is the area between the mean and 395 pounds? What is the pro

    Probability of Correct Test Answers

    A True-False test has 20 questions with each having 2 possible answers with one correct answer. Assume a student answers every question. a. What is the probability of getting exactly 9 correct answers? b. What is the probability of getting less than 6 correct answers?

    Probability, mean & variance

    Please help with the following probability problems. Provide step by step calculations for each statistics question. The probability that a pumpkin seed will germinate is 70%. A gardener plants in batches of 12. a. What is the probability that exactly 10 seeds will germinate? b. What is the probability that 10 or mo

    Random Variables

    1. Seventy percent of the light aircraft that disappear while in flight in a certain country are subsequently discovered. Of the aircraft that are discovered, 60% have an emergency locator, whereas 90% of the aircraft that are not discovered do not have an emergency locator. Suppose a light aircraft has disappeared. a) Draw

    Probability and Reasoning

    Marge and Joe have five daughters. They decide to have another baby because they are sure the next one will be a boy (after all, what are the odds of having another girl!) 1. Is their reasoning accurate? Why or why not? 2. What is the probability of having six girls? 3. What is the probability of

    Ford Super Duty F-750

    Fast Service Truck Lines uses the Ford Super Duty F-750 exclusively. Management made a study of the maintenance costs and determined the number of miles traveled during the year followed the normal distribution. The mean of the distribution was 60,000 miles and the standard deviation 2,000 miles. a. What percent of the Ford

    An Internal Study by the Technology Services Department

    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

    Probability from classical approach

    You are dealt 2 cards successively without replacement from a shuffled deck of 52 cards. Find the probability that the first card is a king and the second card is a queen. Round your answer to the nearest 3 decimal places.

    Binomial Probabilities

    3.6-14. A candy maker produces mints that have a label weight of 20.4 grams. Assume that the distribution of the weights of these mints is N(21.37, 0.16). a) Let X denote the weight of a single mint selected at random from the production line. Find P(X > 22.07). b) Suppose that 15 mints are selected independently and weighed.

    True Statement

    Fred's Surfboard Shop makes surfboards by hand. The number of surfboards that Fred makes during a week depends on the wave conditions. Fred has estimated the following probabilities for surfboard production for the next week. Number of Surfboards 5 6 7 8 9 10 Probability 0.13 0.22 0.3 0.1 0.15 0.1 Let event A be that Fred pro


    A certain medical test has the following characteristics. In case of a viral infection, the test shows positive with probability 0.8. Even if there is no viral infection, the test shows positive with probability 0.1. There is a 1/5 chance that any patient has a viral infection. If a patient tests positive on this test, what is t

    Electric Razor Case Study: Using a Decision Tree to Solve a Problem

    [See attachment for case study] a) Draw a decision tree to solve Jim's problem. Explain how you have calculated all the probabilities that you report on the tree. Define clearly each decision node, event node, decision that you can take, and possible outcome for the random variables. b) What is the best decision for Jim am

    Uniform probability distribution

    This problem is about the uniform probability distribution. The probability density f(x) = 0 up to point a then equals 1/(b-a) up to the point b. The lower limit is the point a and b is the upper limit of the x values. ---------------------------------------- I need help with the following questions: 1. Sketch in Exc

    Probability problems

    18 owned tents, 15 owned sleeping bags, 14 owned camping stoves, 6 owned both tents and camping stoves, and 10 owned both sleeping bags and camping stoves: a. What is the probability of owning a tent, owning a camping stove, owning a sleeping bag, camping stove, and owning both a sleeping bag and a camping stove? b. What is

    Continuous distribution

    1. Let the random variable X have the p.d.f. f(x)=2(1-x) for 0<x<1 and zero elsewhere. a. Sketch the graph b. Determine and sketch the graph of the distribution function of X c. find P(X) for the following intervals: i. [0,1/2] ii. [1/4,3/4] iii. X=3/4 iv. X>3/4 2. For each of the following functi

    Probabilities and Standard Normal Random Variable

    1. Given the Z is the standard normal random variable, compute the following probabilities. a) p(z=2) b) p(z<=1.5) c) P(z>1.8) 2. A video rental store checks out an average of 320 movies per day, with a standard deviation of 75 movies. considering a sample of 30 days of operation. a) what is the probability that th

    Probability Distributions

    For the given p.d.f.'s Find the m.g.f. M(t) Find the values of mean and variance Determine and Sketch the graph of the distribution function of X. Sketch the graph of the p.d.f. of X. calculate the value of c so that f(x) is a p.d.f.

    Quantitative Methods: Calculations for Probability

    The owner of Western Clothing Company has determined that the company must sell 670 pairs of denim jeans each month to break even (i.e., to reach the point where total revenue equals total cost). The company's marketing department has estimated that monthly demand is normally distributed, with a mean of 805 pairs of jeans and a

    Quantitative Methods and Quality Assessment

    The quality control process at a manufacturing plant requires that each lot of finished units be sampled for defective items. Twenty units from each lot are inspected. If five or more defective units are found, the lot is rejected. If a lot is known to contain 10% defective items, what is the probability that the lot will be rej

    Quantitatitve Methods

    3. Downhill Ski Resort in Colorado has accumulated information from records of the past 30 winters regarding the measurable snowfall. This information is as follows: Snowfall (in.).......Frequency 0-19..........................2 20-29........................7 30-39........................8 40-49........................8

    Describe correlational research

    Share the practical applications of the study from the Unit 2 Individual Project. How would the results of this survey be used in the workplace? Briefly describe correlational research. Name a variable from this study and one from the workplace that might prove to provide a correlational relationship and explain why you would