Mean income of a sample of workers is $32,000 for 9 months with a standard deviation of $3,000. Without making as assumption about probability distribution, what is the statistically expected proportion of workers that earn less than $26,000 or more than $38,000?
GIVEN: The probability of event A happening is 40%. The probability of event B happening is 50%. The probability of both happening is 30%. QUESTION: If A and B are mutually exclusive, what would be the probability of the union of these two events?
Chicken Factory has several stores in the Hilton Head, South Carolina, area. When interviewing applicants for server positions, the owner would like to include information on the amount of tip a server can expect to earn per check (or bill). A study of 500 recent checks indicated the server earned the following tip. Amount of
Assume the readings of inexpensive thermometers for the temperature of the freezing point of water are normally distributed, have a mean of 0 degree C, and a standard deviation of 1 degree C. Find the probability that a randomly selected thermometer will have a reading of greater than -2 degree C for the freezing point of water
According to the National Climatic Data Center, Miami, Florida experienced 138 days of measurable precipitation (rain) in 1995. By comparison, the weather station at Phoenix, Arizona reported 31 days of precipitation during the same year. Neither amount of precipitation was considered unusual for these two cities. a. A day i
Susan Williams has been the production manager of Medical Suppliers, Inc., for the past 17 years. Medical Suppliers, Inc., is a producer of bandages and arm slings. During the past 5 years, the demand for No-Stick bandages has been fairly constant. On the average, sales have been about 87,000 packages of No-Stick. Susan has
Problem: Bill Holiday is not sure what he should do. He can either build a quadplex (i.e., a building with four apartments), build a duplex, gather additional information, or simply do nothing. If he gathers additional information, the results could be either favorable or unfavorable, but it would cost him $3,000 to gather th
A joint probability can have a value ________ one. greater than less than equal to A and C B and C
Consider a binomial experiment with 2 trails and p= 0.4. find the probability of at least one success.
Telephone calls arrive at the rate of 48 per hour at the reservation desk for the Paris Hilton. Find the probability of receiving 3 calls in five minute period.
I can do the Hyper formula f(x) = r N-r x n-x divided by N n but I cant figure out all my needed numbers from the problem. Problem states 20% enrolled in training dropped out without co
We would like to make a study of poverty between Americans and Canadians. Company x picked a total of 1,000 American and Canadians in a survey. Upon examination of the collected data, it is found that there are 643 Canadians and 357 Americans in the survey. And 403 of the Canadians are rich and 240 are poor. Of the Americans
Company x manufactures toy panzers. Suppose that in an assortment of 20 toy panzers, there are 5 with defective turrets. Draw with and without replacement. a. If one panzer is selected at random, what is the probability that it has defective turret? b. If two panzers are selected at random, what is the probability tha
The sales records of a real estate agency show the following sales over the past 200 days: Number of Number Houses Sold of Days 0 60 1 80 2 40 3 16 4 4 a. How many sample points are th
Why do alphas differ among industries?
What is the probability you will win any money in the state lottery and the probability that you will win at least $100, if the payoff for $2.00 is 0.0200; $25.00 is 0.0100; $100 is 0.0050; $500 is 0.0010; $5000 si 0.0005 and $10,000 is 0.0001? Please show step by step in detail of how you compute the answers.
Suppose a product needs to be marketed, but the manufacturer can make the product in three ways using any one of the three designs. There are three categories of market conditions and they occur with the probabilities given in the following table: Design Market condition I with probab
1. A manufacturer of batteries for "kids' toys" wishes to investigate the length of time a battery will last. Tests results on a sample of 10 batteries indicated a sample mean of 5.67 and a sample standard deviation of 0.57. a. Determine the mean and the standard deviation b. What is the population mean? What is the best e
A machine is set to pump cleanser into a process at the rate of 7 gallons per minute. Upon inspection, it is learned that the machine actually pumps cleanser at a rate described by the uniform distribution over the interval 6.5 to 7.5 gallons per minute. Find the probability that the machine pumps less than 6.75 gallons during
The amount of corn chips dispensed into a 10 ounce bag by the dispensing machine has been identified at possessing a normal distribution with a mean of 10.5 ounces and a standard deviation of .2 ounces. Suppose 100 bags of chips were randomly selected from this dispensing machine. Find the probability that the sample mean weig
A course in statistics is one of the most difficult at the local university. Because of this, for the past decade the university has arranged for teaching assistants to hold frequent discussion sessions as part of the course. Since the inception of the discussion sessions, 50% of the students enrolled in the course regularly att
The results of a calculus exam are normally distributed with a mean of 76 and a standard deviation of 6. Find the percentage of students that scored above 70. 15.9 50.0 84.1 23.1 Find the standard deviation of the given probability distribution. x P(x) 0 0.24 1 0.01 2 0.12 3 0.1
Suppose that one of our colleagues has $2000 available to invest. Assume that all of this money must be placed in one of three investments: a particular money market fund, a stock, or gold. Each dollar your colleague invests in the money market fund earns a virtually guaranteed 12% annual return. Each dollar he invests in the st
Use the binomial probability formula to determine the probability of x successes in n trials: n=12, x=5, p=0.25 0.103 0.082 0.091 0.027 The probability is 0.7 that a person shopping at a certain store will spend less than $20. For groups of size 22, find the mean number who spend
1. The board of directors for the ABC investment Fund has 10 members. If 3 members of randomly selected to oversee the auditors, the probability that the 3 wealthiest members are selected is 1/120. Is this correct??? 2. In problem #1, if members are elected to the positions of chairperson, vice chairperson, and treasurer how
1. Each year, the US Energy Department publishes an Annual Energy Review that includes the per capita consumption for each of the 50 states. If the mean of these 50 values is calculated, what is the result? Is the answer the mean per capita energy consumption for the population in all 50 states combined??? 2. A set of data i
If you have a lottery ticket with two numbers, and a letter.... example- 3 7 P What is the probability of that you will match the first digit?
Find the indicated probabilities 1. P(z < 1.28) 2. P(z > -0.74) 3. P(-2.15 < z < 1.55) 4. P (0.42 < z <3.15)
Marital Status. The probability that a randomly chosen 40-year-old woman is divorced is about 0.15. this probability is a long-run proportion based on all the millions of women aged 40. Let's suppose that the proportion stays at 0.15 for the next 20 years. Bridget is now 20 years old and is not married. (a) Bridget think
1. How many ways can 15 girls be chosen to form a baseball team (need 9 players)? 5005 1,816,214,400 24 135 3. Use this table to answer questions #3 through #6. Some students were asked if they carry a credit card. Here are the responses. Class______ | Credit Card Carrier | Not a Credit C