Probability

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Probability 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.

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.

Various Online Math Applications

Using a favorite Internet search source, conduct a general online Internet search for "math applications" in a chosen field of interest (for example, "math applications sports" or "math applications computers"). Your search should initiate several websites related to this topic. Visit several of these websites and browse t

Coin Toss Probability

In this activity, you will explore some ideas of probability by using Excel to simulate tossing a coin and throwing a free throw in basketball. Toss a coin 10 times and after each toss, record in the following table the result of the toss and the proportion of heads so far. For example, suppose you obtain the following sequence

Data Set Probability for Satisfied Individuals

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 to 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 profiles for

Combination and Permutation

1.3-1 There are total 8 digits and we wants to choose 4 digit from 8 digits for locks. Since in the number lock, we may choose combinations of repeated numbers. Thus first digit can be chosen from 8 ways. Since other second, third and fourth digits can be chosen from 8 ways . 1.3-2 since there are 4 Orchids we choos

Business Statistics-probability question

An MBA graduate is applying for nine jobs, and believes that she has in each of the nine cases a constant and independent 0.48 probability of getting an offer. a. What is the probability that she will have at least three offers? b. If she wants to be 95% confident of having at least three offers, how many more jobs should she

Calculation of Binomial Probability

10. A professor is giving a T/F test in your history class. Statistics show students who do not study for the test but attend class have a 70% chance of getting the answers correct. The test is 20 questions and the student did not study. (Hint: Binomial Distribution) a. What are the odds a student gets more than 13 question

Probability Manufacturer to Reduce Codes

8. You just bought a new safe: It has a key pad with 26 letters on it. The code is 4 random letters a. How many different codes are there for you to select from if no letter can be used more than once? b. If no letter can be used more than once. Does Order Matter? c. If the manufacturer decided to reduce the code from

Probability Frequency Definition

2. The table below represents the results of a survey of 1000 workers in Q1 2009 as to which benefit they find is the most important. Retirement Benefits are most important Health Benefits are most important Single 280 200 Married 220 300 a. If a Worker is chosen at random, what is

Determining the Probability of a Certain Weight

The fill weight of a certain brand of adult cereal is normally distributed with a mean of 910 grams and a standard deviation of 5 grams. If we select one box of cereal at random from this population, what is the probability that it will weigh less than 900 grams? Show work.

Expected profit for the ski resort

Ski resort profits $1,500,000 during a good winter with lots of snow. The resort has a loss of $500,000 otherwise. The resort's historical climate data suggests that the probability of a good winter with lots of snow during any given year is 40%. What is the expected profit for the ski resort?

Probability of Sample Mean.

QUESTION 4 A manufacturer of power tools claims that the average amount of time required to assemble their top-of-the-line table saw is fifty (50) minutes with a standard deviation of forty (40) minutes (the very large standard deviation is due to a variety of factors including a large variation in skills among the 'Do it yours

Probability of Orders for Installation of Computer Information System

The number of orders for installation of a computer information system arriving at an agency per week is a random variable X with the following probability distribution: X P(x) 0 0.10 1 0.20 2 0.30 3 0.15 4 0.15 5 0.05 6 0.05 a. Prove that P(X) is a probability distribution. b. Find the cumulative distribution

Real Estate: Conflict and Conflict in Selling Houses

A real estate agent has four houses to sell before the end of the month by contracting prospective customers one by one. Each customer has an independent 0.24 probability of buying a house on being contacted by the agent. a. If the agent has enough time to contact only 15 customers, how conflict can she be of selling all fou

Statistics

1. A z-score of z = +3.00 indicates a location that is ____. A) near the center of the distribution B) slightly above the mean C) far above the mean in the extreme right-hand tail of the distribution D) The location depends on the mean and standard deviation for the distribution. 2. For a distribution of scores, which of th

Probability question

Laptop computers produced by a company have an average life of 38.36 months. Assume that the life of a computer is exponentially distributed (which is a good assumption). a. What is the probability that a computer will fail within 12 months. b. If the company gives a warranty period of 12 months, what proportion of computers

Learning Curve and Process Capability

Based on chapter learning and assuming no relationship between the questions What is process capability? Explain it in context of how it is used in your organization. Also explain, what is the learning curve, and how can it be applied?

Probability of Defective Tires

A shipment of 100 tires from the TruTire Corporation is known to contain 20 defective tires. Ten tires are selected at random and each tire is replaced before the next tire is selected. The probability of getting at most 4 defective tires is ____________. The probability of getting more than 6 defective tires is _________.

Z score for probability calculation

The department of Weston Materials, Inc. manufacturer of demountable carports, indicates that two workers take an average of 32 hours with a standard deviation of two hours to build a garage. Suppose that the times are joining a normal distribution. (Closer to 2 decimal places) 1. Determine the value of z for 29 hours. 2 De

Determination of Various Probabilities with Poisson Distribution

Q2: US Airlines average about 1.2 fatalities per moth. Assume the probability distribution for x, the number of fatalities per month, can be approximated by a poisson probability distribution. a) what is the probability that no fatalities will occur during any given month? b) what is the probability that one fatality will occu

Probability Distributions: Bottled Water

Is the bottled water you're drinking really purified water? A four year study of bottled water brands conducted by the natural resources found that 25% if bottled water is just tap water. Consider a sample of five bottled water brands, and let x equal the number of these brands that use tap. a) Explain why x is (approx.) a bi

Chi square test for binomial distribution

Each,day Monday through Saturday, a baker bakes three large chocolate cakes and those not sold on the same day are given away to a food bank. Use the data shown in the following table to test the 0.05 level of significance whether they may be looked upon as a value of a binomial random variables. # of cakes sold # of days 0 1

Ten questions on statistics.

Questions about statistics (please see attached). 1. The graph shows the results of a survey of drivers who were asked to name the most annoying habit of other drivers. You randomly select six people who participated in the survey and ask each one of them to name the most annoying habit of other drivers. Let x represent the n

Binomial probability problems

A doctor prescribed the drug penicillin to three different patients as a form oLtreatment for an infectious disease. It is known from the general population that 20 out of every 100 individuals are allergic to the drug. . (a) What is the probability that all three patients are allergic to the drug? (b) What is The probability

Poisson Probability

An internal study by the technology service4 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. 1. What is the probability Linda Lahey, company president, received exactly 1 email between 4 pm and

Detailed Explanation to Statistics - Probability

1. A recent survey conducted by Towers Perrin and published in the Financial Times showed that among 460 organizations in 13 European countries, 93% have bonus plans, 55% have cafeteria-style benefits, and 70% employ home-based workers. If the types of benefits are independent, what is the probability that an organization selec

Computer Languages to Generate Random Numbers

Most computer languages include a function that can be used to generate random numbers. In Excel, the RAND function can be used to generate random numbers between 0 and 1. If we let x denote a random number generated using RAND, then x is a continuous random variable with the following probability density function: f(x) = {1

Estimate / justification

It is difficult to make budgetary projections in the current economic climate. In particular, a decision regarding long-range planning will be made, in part, using the likelihood that the current recession will last less than 1.5 years. To estimate this probability, information from all previous recessions in the United States

Probability

Suppose that the national unemployment rate in six months is forecast as 7.4% with an uncertainty of 2.3% (percentage points) as given by the estimated standard deviation of the forecast. Please assume a normal distribution with this mean and standard deviation. ---Find the probability that the unemployment rate will be over

Net Present Value and Measured Risk

A consensus of experts has agreed on the following table of potential NPVs and their likelihoods for a capital budgeting project that involves considerable uncertainty and is therefore risky: PROBABIlITY NPV ($thousands) 0.15 (300) 0.35 (50) 0.45 500 0.05