The values (in thousands of dollars) of cars owned by six persons are 13, 9, 3, 28, , and 16. Where, X1 = 13, X2 = 9, X3 = 3, X4 =28, X5 = 7, X6 = 16 Calculate: a. ΣX b. ΣX c. (Σ X)
(See attached file for full problem description) --- 5.21 Assume that the number of network errors experience in a day on a local area network (LAN) is distributed as a Poisson random variable. The mean number of network errors experienced in a day is 2.4. What is the probability that in any given day a.) Zero network error
PERT Network: Given the following network with activities and times estimated in days. a. What are the critical path activities? b. What is the expected time to complete the project? c. What is the probability the project will take more than 28 days to complete?
21. Given the following network with activities and times estimated in days. (see attached file for diagram and chart) Activity Optimistic Most Probable Pessimistic A 2 5 6 B 1 3 7 C 6 7 10 D 5 12 14 E 3 4 5 F 8 9 12 G 4 6 8 H 3 6 8 I 5 7 12 J 12 13 14 K 1 3 4 a. What are the critical path activiti
1. A husband and wife want to purchase wallpaper for their living room and paint for their kitchen. If they can choose from six different wallpaper patterns and ten different colors of paint, how many possible outcomes from this sequence of events do they have available? 720 16 7200 60
If one card is drawn from a deck, find the probability of getting these results. a- An Ace b- A diamond c- An ace f diamonds d- A 4 or a 6 e- 4 or a club f- A 6 or a spade g- A heart or a club h- A red queen i- A red card or a 7 j- A black card or a 10 If four students are seated on a bench, find the probabi
1. A new book is being released and a bookstore predicts that 70% of customers that walk through the door on the release day will purchase the book. If 30 customers walk through the door, answer the following: (MUST SHOW WORK) A) What type of distribution function (name) is the model for this situation? B) What is the expected
Each airline passenger and his or her luggage must be checked to determine whether he or she is carrying weapons onto the airplane. Suppose that at Gotham City Airport, 10 passengers per minute arrive, on average. Also, assume that inter-arrival times are exponentially distributed. To check passengers for weapons, the airport mu
#52 The first card selected from a standard 52-card deck was a king. If it is returned to the deck, what is the probability that a king will be drawn on the second selection? If the king is not replaced, what is the probability that a king will be drawn on the second selection? What is the probability that a king will
The probabilities of the events A and B are .20 and .30, respectively. The probability that both A and B occur is .15. What is the probability of either A or B occurring? America West Airlines reports the flight time from Los Angeles International Airport to Las Vegas is 1 hour and 5 minutes, or 65 minutes. Suppose the a
A buyer for a large department store chain must place orders with an athletic shoe manufacturer 6 months prior to the time the shoes will be sold in the department stores. In particular, the buyer must decide on November 1 how many pairs of the manufacturer's newest model of tennis shoes to order for sale during the upcoming sum
(See attached file for full problem description) --- 1. A large sporting goods store is placing an order for bicycles with its supplier. Four models can be ordered: the adult Open Trail, the adult Cityscape, the girl's Sea Sprite, and the boy's Trail Blazer. It is assumed that every bike ordered will be sold, and their
1. The current price of IBM stock is $88. Every year the stock can either go up by 20% with probability 2/3, or go down by 10% with probability 1/3. What is the price of a European Call option on IBM with maturity in 2 years, and a strike price of $100? The risk free interest rate is 4% a year. 2. Goldseeker Inc. is a company
A recent report in Business Week indicated that 20 percent of all employees steal from their company each year. If a company employs 50 people, what is the probability that: a. Fewer than 5 employees steal? b. More than 5 employees steal? c. Exactly 5 employees steal? d. More than 5 but fewer than 15 employees steal?
If X and Y are both independent U[0,1] random variables, find the probability that max (X,Y)>2min(X,Y)
1. The probabilities that a customer selects 1, 2, 3, 4 and 5 items at a convenience store are 0.32, 0.12, 0.23, 0.18, and 0.15, respectively. Fill in the probabilities. Outcome X 1 2 3 4 5 P(X) 2. A study conducted by a TV station showed the number of televisions pe
1.Sixyy nine percent of adults favor gun licensing in general. Choose one adult at random. What is the probability that the selected adult doesn't believe in gun licensing? 2.In a recent year, of the 1,184,000 bachelor's degrees conferred, 233,000 were in the field of business, 125,000 were in the social sciences, and 106
If the probability of getting caught copying someone else's exam is .1, find the probability of not getting caught in three attempts. Assume independence.
A normal distribution has a mean of 50 and a standard deviation of 4. a-compute the probability of a value between 44.0 and 55.0. b-compute the probability of a value greater than 55.0. c-compute the probability of a value between 52.0 and 55.0
A study by the National Park Service revealed that 50 percent of vacationers going to the Rocky Mountain region visit Yellowstone Park, 40 percent visit the Tetons, and 35 percent visit both. a. What is the probability a vacationer will visit at least one of these attractions? b. What is the probability .35 called? c. A
A basketball team scores 45% of the time it gets the ball. Find the probability that the first basket occurs on its third possession (Assume independence)
A manufacturer of window frames know from long experience that 5% of the production will have some type of minor defect that will require an adjustment. What is the probability that in the sample of 20 window frames: A. None will need adjustment? B. At least one will need adjustment? C. More than two will need adjustment?
Suppose 5.9% of certain population use public transportation to get to work. You randomly select 380 workers and ask them if they use public transportation to get to work. Use the normal distribution to approximate the following probabilities. 1) find the probability that exactly 25 workers will say yes. 2) at least 25 wo
Telephone calls are being produced through a certain exchange at random times on the average of 4 per min. Determine the probability in a 15 second interval there are 3 or more calls.
Cruise ships of the Royal Viking line report that 80 percent of their rooms are occupied during September. For a cruise ship having 800 rooms, what is the probability that 665 or more are occupied in September?
See the attached file. 1. The Venn diagram displays the results of all of the register voters in the county. What is the probability that a registered voter in the county vote in the election? 2. A certain virus infected one in every 200 people. A test used to detect the virus in a person is positive 99% of the time if the p
The table shows the number of overtime hours worked per week per employee. Use the frequency distribution to construct a probability distribution. Then find the mean, variance and standard deviation. O/T 0 1 2 3 4 5 6 7 Empl 13 15 38 37 22 14 16 45 1) Mean 2) varia
What are examples from the workplace related to how data are collected and displayed to facilitate the determination of probability in the resolution of business-related and marketing problems?
Quantitative Analysis 3 multiple choice questions: probability, Poisson distribution, Normal Distribution
1. Meagan Dubean manages a portfolio of 200 common stocks. Her staff classified the portfolio stocks by 'industry sector' and 'investment objective.' Investment objective Industry Sector Electronics Airlines Healthcare Total Growth 84 21
1) Thirteen percent of people are left handed. You randomly select 8 persons and ask if they are left-handed. Find the probability that (a) exactly 6 persons are left handed, (b0 at least 6 persons are left handed, (c) less than 6 are left handed. a) P(exactly 6 of 8 are left handed) Round to four decimal places. b) P(at l
In the following probability distribution, a sociologist surveyed the households in a small town. The random variable x represents number of dependent children in the household. x 0 1 2 3 4 P(x) 0.08 0.19 0.37 ? 0.17 Determine the missing probability in this distribution. Round to the nearest hundredth.