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Probability

Probability and simulating files for promotion

Individually remove all four aces from a deck of playing cards. There will now be 24 red cards in the deck, that will represent "male" files, and 24 black cards that will represent "female" files. Alternatively, you may use 48 index cards, marking half with "M" and half with "F". Shuffle the cards at least seven times and then

Statistics - Probability and Sample Distribution

Although most people believe breakfast is the most important meal of the day, 25% of adults skip breakfast (U.S. News & World Report, November 10, 1997). Assume the population proportion is p = .25, and pbar is the sample proportion of adults who skip breakfast based on a sample of 200 adults. a) Show the sampling distributio

Poisson Distribution for Major Earthquakes

For a recent period of 100 years, there were 93 major earthquakes (at leat 6.0 on the Richter scale) in the world (based on data from the World Almanac and Book of facts). Assuming that the Poisson distribution is a suitable model, find the mean number of major earthquakes per year, then find the probability that the number of e

Probability: A Study of College Football Games

A study of college football games shows that the number of holding penalties assessed has a mean of 2.3 penalties per game and a standard deviation of 1.1 penalties per game. What is the probability that, for a sample of 40 college games to be played next week, the mean number of holding penalties will be 2.4 penalties per game

Probability

An oil explorer orders seismic tests to determine whether oil is likely to be found in a certain drilling area. The seismic tests have a known reliability: when oil does exist in the testing area, the test will indicate so 90% of the time; when oil does not exist in the test area, 5% of the time the test will erroneously indica

Finance questions

1) You are interested in investing, and are considering a portfolio comprised of the following two stocks. Their estimated returns under varying market conditions are provided: Condition Probability of condition Return on security A Return on security B Economy Sluggish 0.3 0.16 -0.05 Economy Normal 0.

1) 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? 2) The probability is 1 in 4,000,000 that a single auto trip in the United States will result in a fatality. Over a lifetime, an average U.S. driver takes 50,000 trips. (a) What is the probability of a fatal accident over a lifetime?

1. 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. 2. The probability is 1 in 4,000,000

Finding Probability of Beer Drinkers

On average, 40 percent of U.S. beer drinkers order light beer. (a) What is the probability that none of the next eight customers who order beer will order light beer? (b) That one customer will? (c) Two customers? (d) Few than three? (e) Construct the probability distribution, make a graph of its PDF, and describe its shape.

Probability of Different Scenarios

1. A study of 200 advertising firms revealed their income after taxes: Income after Taxes Number of Firms Under $1 million 102 $1 million to $20 million 61 $20 million or mor

Determining range, mean absolute deviation, standard deviation and variance

1. A social scientist for a children's advocacy organization has randomly selected 10 Saturday-mornings television cartoon shows and carried out a content analysis in which he counts the number of incidents of verbal or physical violence in each. For 10 cartoons examined the counts were as follows: 27, 12, 16, 22, 15, 30, 14, 30

Probability calculation for AIU job satisfaction data.

Using our data set from Unit 1, compose an email to the head of the American Intellectual Union which discusses the following: Be sure to include information about how you would use the concept of probabilities to apply to profiles for hiring more satisfied individuals. (Job Satisfaction is an attitude about one's job. It

Calculate: The Probability of Completing an Assignment

Dr. Stallter has been teaching basic statistics for many years. She knows that 80 percent of the students will complete the assigned problems. She has also determined that among those who do their assignments, 90 percent will pass the course. Among those students who do not do their homework, 60 percent will pass. Mike Fishbaugh

Probability

One-fourth of the residents of the Burning Ridge Estates leave their garage doors open when they are away from home. The local chief of police estimates that 5 percent of the garages with open doors will have something stolen, but only 1 percent of those closed will have something stolen. if a garage is robbed, wha

Probability of Cards in a Deck

Please help with the following probability questions. The condition for the question is that the deck of cards has 52 cards and among them are 12 face cards. 1. a) What is the probability of choosing 6 face cards out of 8 chosen (through binomial distribution holds, meaning with replacement)? b) What is the probability of

Binomial Probabilities for Newspaper Subscriptions

Based on p=.60, probability that a randomly selected homeowners will say no to newspaper subscription. n=10 sample size a. The probability that 6 out of 10 people will say no to a newspaper subscription. b. The probability that 2 out of 10 people will say no to a newspaper subscription.

NCAA Basketball Tournament Probabilities

NCAA Basketball Tournament. Each year, 64 college basketball teams compete in the NCAA tournament. Sandbox.com recently offered a prize of $10 million to anyone who could correctly pick the winner in each of the tournament games. The president of that company also promised that, in addition to the cash prize, he would eat a b

Solving Probabilty, Normal Distributions and Using Excel

SOB's systolic blood pressure is a random variable with a mean of 145 mmHG and a standard deviation of 20mmHG. If the SOB's blood pressure is taken at a randomly chosen moment what is the probability it will be below 135? What is the probability it will be over 175?

Probabilities of Profit Projections

A new product has the following profit projections, associated probabilities, and indifference probability: Profit Probability Indifference Probability $150,000 .10 -- $100,000 .25 .95 $50,000 .20 .70 0 .15

Statistics

See attached A final exam in sociology has a mean of 72 and a standard deviation of 9.2....

Probability Distributions

Refer to the Baseball 2005 data, which reports information on the 30 major league teams for the 2005 baseball season. www.baseball1.com/statistics/ a. Select the variable team salary and find the mean, median, and the standard deviation. = Mean = X Median = s = Standard Devia

General Statistics questions from probability and descriptive statistics.

1. A search engine site claims that, on average, one out of five visitors clicks on an ad. a. If 7 users visit the site, what is the probability that at least one clicks on an ad? b. If 7 users visit the site, what is the probability that less than three of them click on an ad? c. If 700 users visit the site, would the pr

Probability of Occurance

A person purchases a package of 10 ball-point pens which, unknown to the purchaser, contains 4 defective pens. Of the first 2 pens used by the purchaser, find the probability that at least 1 pen is defective.

Binomial distribution: Example problem

It is claimed that 70% of the residents in a large town approve of the current zoning law. Four residents are to be randomly selected. Find the probability that: a. None of the four approves. b. Exactly two approve. c. At least one approve

The probability of rain in Boston

When writing about the probability that it will rain in Boston on July 4 of next year, a newspaper reporter states that the probability is ½, because either it will rain or it will not. Is this reasoning correct? Why or why not? An insurance company states that the probability that a particular car will be involved in a car

Joint Probability Density

If the joint probability density of X and Y is given by f(x, y) = {(1/4)(2x + y) for 0 < x < 1, 0 < y < 2 0 else where } Find: a) the marginal density of X b) the conditional density of X given Y = 1 c) the conditional density of Y given X = 1/4

Statistics - Probability of Trend Wear

The tread wear (in thousands of kilometers) that car owners get with a certain kind of tire is a random variable whose probability density is given by f(x) = ( (1/30)e-x/30 for x > 0 0 for x < 0} What tread wear can a car owner expects to get with one of the tires? (Could you explain the in

Finance : Expected Return and Risk

Emery, Finnerty & Stowe - Ch. 6, problems A6, B6, & B10 (a only)- A6. (Expected portfolio return) Musumeci Capital Management has invested its portfolio as shown here. What is Musumeci's expected portfolio return? B6. (Expected return and risk) Procter & Gamble is considering three possible capital investment

Probability or Number of Possibilities questions

Lotto, a lottery game conducted by the Ohio State Lottery Commission, consisted of selecting six numbers from the 42 numbers 1, 2, ...,41, 42. (No repetitions are allowed, and order does not matter.) The Commission selects by chance the six winning numbers. You pay $1 to play. You get a free ticket if three of your numbers matc

Probability based on binomial probability

Binomial Distribution 1. State a question that can be answered in a "binomial" manner, such as Do you normally read the front page of a newspaper at least 4 times a week? (yes or no). Determine ahead of time whether answers should be recorded or counted as a "yes " or "no". 2. Take a survey. Ask 22 individuals to respo

Random Probability of Residents being Selected

Q2 It is claimed that 70% of the residents in a large town approve of the current zoning law. Four residents are to be randomly selected. Find the probability that: a. None of the four approves. b. Exactly two approve. c. At least one approve.