According to records, the amount of precipitation in a certain city on a November day has a mean of 0.10 inches, with a standard deviation of 0.06 inches. What is the probability that the mean daily precipitation will be 0.095 inches or more for a random sample of 40 November days (taken over many years)? Carry your interm
The unemployment rate in a city is 13%. Find the probability that more than 2 out of 10 people from this city sampled at random are unemployed. Round your answer to four decimal places.
A rainstorm in Portland, Oregon, has wiped out the electricity in about 7% of the households in the city. A management team in Portland has a big meeting tomorrow, and all 6 members of the team are hard at work in their separate households, preparing their presentations. What is the probability that none of them has lost electri
I need help with the following three statistical diagrams and calculations. The diagrams need to be done in Microsoft excel or Microsoft word and attached as a separate document. Show your work of how you arrive at the answer to the calculations so it can help me in understanding how to do other similar problems. 1. What is t
Assume that male and female births are equally likely and that the birth of any child does not affect the probability of the gender of any other children. What is the probability of having exactly four boys in ten births? [Hint: binomial probability]
Based on the below account of prophecy and fulfillment how do I write out the answer based on the formula to solve the equation. I guess for statistics sake we could say that he could have ridden in on a camel, horse, or donkey. How do I go about doing this? Thanks for your help? SO would the probability be .50 a yes he wou
A certain airplane has two independent alternators to provide electrical power. What is the probability that (a) both will fail? (b) Neither will fail? (c) One or the other will fail?
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.
A certain airplane has two 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 other will fail. Show steps. Do not understand the concept of figuring out the solution for probability p
According to Catalyst, a New York based women's advocacy and research group, 12% of all corporate officer's at the 500 largest U.S. corporations in 1999 were women, compared to 8% in 1995. a.) According to catalyst data, in sample of 1,000 corporate officer's at the 500 largest U.S. firms, how many would you expect to be wo
Fluctuation in the prices of precious metals such as gold have been empirically shown to be well approximated by a normal distribution when observed over short interval of time. What is the probability that the client's gold will be sold the next day?
Fluctuation in the prices of precious metals such as gold have been empirically shown to be well approximated by a normal distribution when observed over short interval of time. In May 1995, the daily price of gold (1 troy ounce) was believed to have a mean of $383 and a standard deviation of $12. A broker, working under these a
Think of your favorite casino game (craps, black-jack, roulette, etc) and analyze the probabilities of a few different outcomes. For example what is the probability of getting three straight craps (seven) in the game of craps?
WHICH ANSWER IS RIGHT 1, 2, OR 3 AND WHY? There is a 20% probability of a rain tomorrow means that: 1. Tomorrow it will be raining during 0.2 of the day, and the rest of the day it will be clear; 2. Out of the next 5 days, one day it will be raining ; 3. According to the records, if a weather like one we have today occu
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 hiring more satisfied individual
Problem 3 Jim is considering pursuing an MS in Information Systems degree. He has applied to two different universities. The acceptance rate for applicants with similar qualifications is 20% for University X and 45% for University Y. What is the probability that Jim will be accepted at one and only one university? Problem 5 T
The amount of time ships spend at the Philadelphia dockyard follows an exponential distribution and the average time spent in the dockyard is 3.1 days.
Problem 1 The amount of time ships spend at the Philadelphia dockyard follows an exponential distribution and the average time spent in the dockyard is 3.1 days. a. What is the probability that a randomly selected ship spends no more than 1.5 days at the dockyard? b. What is the probability that a randomly selected ship spend
A standardized test consists entirely of multiple-choice questions, each with 5 possible choices. You want to ensure that a student who randomly guesses on each question will obtain an expected score of zero. How would you accomplish this?
Several Students enrolled in a finance course subscribe to Money magazine. If two students are selected at random from this class, the probability that neither of the chosen students subscribes to Money is 0.81. Furthermore, the probability of selecting one student who subscribes and one student who does not subscribe to this ma
Wages in the construction industry average $11.90 per hour with a standard deviation of $1.40. What percent of workers make less than $10.50 per hour (z = -1.00)? 2. The probability of employees taking the time to fill out a survey at Comptex is 17%. There are 5 people in the department managed by Alice. What is
1. If X, Y are lognormal distribution, what the distribution of X/Y? 2. what is the probability of getting 40 or less heads in 100 coin tosses. What distribution is this. With what other distribution can you approximate this. What is the final probability. 3. Which is greater exp((a+b)/2) or (exp(a)+exp(b))/2 4. what
Let X be a random variable representing the sum of trials. Then X is a binomial random variable if all of the following are satisfied except a. no two trials can have the same outcome b. p, the probability of "success" on any trial is the same for all trials c. each trial has exactly two possible outcome
For questions 1 through 3 use the table below. The table shows the number of smokers and nonsmokers by gender among 220 people. Assume one person is chosen at random from the 220. Smokers Nonsmokers Totals Male 40 60 100 Female 40 80 120 Totals 80 140 220 1. If a smoker is chose
A carton contains 12 eggs, five of which are cracked and seven of which are good. If four eggs are chosen at random, what is the probability that there will be three cracked and one good among the four chosen?
In establishing warranties on HDTV sets, the manufacturer wants to set the limits so that few will need repair at manufacturer expense. On the other hand, the warranty period must be long enough to make the purchase attractive to the buyer. For a new HDTV the mean number of months until repairs are needed is 36.84 with a standa
States A1 A2 A3 1 12 -2 8 2 4 10 5 Where; S1 is State of Nature 1, A1 is Action Alternative 1 S2 is State of Nature 2, A2 is Action Alternative 2 A3 is Actio
The following payoff matrix is given in dollars: EVENT PROBABILITY ACTION A ACTION B 1 0.5 400 700 2 0.5 200 500 The coeffici
EVENT PROBABILITY ACTION A ACTION B 1 0.5 400 700 2 0.5 200 500 Referring to the table above, what is the optimal action using the EMV criterion? ACTION A ACTION B EITHER ACTION A OR B IT CANNO
Please see attached file for full problem description. Tree diagrams for conditional probabilities 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.
A box of 9 gloves contains two left handed gloves and seven right handed gloves. a: If two gloves are randomly selected from the box, without replacement, what is the probability that both gloves will be right handed? b: If two gloves are randomly selected from the box without replacement, what is the probability that ther
1. The average salary for graduates entering the actuarial field is $40,000. If the salaries are normally distributed with a standard deviation of $5,000, find the probability that a) An individual graduate will have a salary over $45,000. b) A group of nine graduates will have a group average over $45,000. 2. The natio
Replacement times for new Ford Taurus GL automobiles are normally distributed with a mean of 7.1 years and a standard deviation of 1.4 years. Find the probability that seven randomly selected Taurus GL automobiles will have a mean replacement time greater than 7.0 years. Among U.S. households, 24% have telephone answer