You can invest in one of 3 projects: (payoffs modeled as discrete distributions) 1. Sell land and you make $60,000 2. Build an apartment: if things go well (probability = 0.70) and estimated payoff is $130,000, or $50,000 otherwise 3. Build a single family house: payoff $100,000 (probability = .80) and $75,000 otherwise Fi
The average weight of packages shipped by a courier company is 55 kg with a standard deviation of 20 kg.
1.The average weight of packages shipped by a courier company is 55 kg with a standard deviation of 20 kg. In a sample of 100 packages, what is the probability of getting a sample mean between 50 and 60 kg? 0.0062 0.4938 0.5000 0.9876 2.The scores for a group of high school students in a national physics examination were
A game is played in which one of two players chooses a dice from a set of three die. After the first player chooses, the second player chooses a dice from the remaining two that are left. Then the two role their dice simultaneously. The player that turns up the highest number wins. In this game, however, although the dice are
The industry average salary is $140,000, and the standard deviation of salaries in the industry is $20,000. What is the probability that a single executive will earn $130,000 or more? What is the value of the standard error of the mean for this problem? What is the probability that any sample mean of salaries of any 15
#1) The U.S. Bureau of Labor Statistics collected data on the occupations of workers 25 to 64 years old. The following table shows the number of male and female workers (in millions) in each occupation category (Statistical Abstract of the United States: 2002) Occupation Male Female Managerial/Professional 19079 19021 Tech./S
If X is a normal random variable with standard deviation 4.00, and if the probability that X is more than 5.52 is .305, than what is the mean of X?
If X is a normal random variable with standard deviation 2.00, and if the probability that X is less than 4.76 is .648, than what is the mean of X?
A television station estimates that 50% of college students watch the super bowl. For a sample of 120 students selected at random, what is the mean and variance of the number of students who watch the game?
The relationship between the negative binomial distribution and the binomial distribution is derived.
Find a simple algebraic relationship between the negative binomial probability P(x) and the binomial probability for the probability of n successes in x trials.
For each example state whether or not the negative binomial distribution is appropriate, briefly explain why or why not. 1. Number of cars passing along a road until five red cars have passed. 2. Number of cars passing along a road until five commercial vehicles have passed. 3. Number of cars passing along a road until five
(3) How many permutations of three items can be selected from a group of six?... and other questions
3. How many permutations of three items can be selected from a group of six? Use the letters A,B,C,D,E and F to identify the items, and list each of the permutations of items B,D and F 11. The National Highway Traffic Safety Administration (NHTSA) conducted a survey to learn about how drivers throughout the United States are us
Dear OTA, Help me with the attached problems with steps. Thanks 1. Linda owns a small business. Use the probability distribution below, where X represents the number of employees who call in sick on a given day. (2 points each) Number of Employees Sick 0 1 2 3 4 P(X = x) 0.05 0.45 0.15 0.1 a. P(X
1. A certain airplane has 2 independent alternators to provide electrical power. The probability that a given alternator will fail on a 1 hour flight is 0.02 . Please show work so that I can understand for future problems. Probability: a) both will fail? b) neither will fail? c) one or the other will
Scenario: You are the Operations Manager for a candy manufacturing company. The Marketing Department has printed new labels for your 1-pound (16 oz) bags of jelly beans. Internal quality standards state that each bag can weigh 1%<16oz.<2.0% with a standard deviation of 0.186 ounces. You take a 100 bag random sample from your pro
A box has three red ball and five green balls. A gambler bets 1.00 on red. A ball is randomly chosen. The gambler wins 1.00 if the ball is red, otherwise he loses 1.00. He will play this game 100 times. I need to know what the value for the gamblers net gain is. I also need to find the SE for the gamblers net gain. Also what
Please help with the following problem. Tea Time is considering selling juices along with its other products. States of Nature High Sales Med. Sales Low Sales A(0.2) B(0.5) C(0.3) 3000 2000 -6000 0 0 0 A1 (
A college would like to have an entering class of 1200 students. Because not all students who are offered admission accept, the college admits more than 1200 students. Past experience shows that about 70% of the students admitted will accept. The college decides to admit 1500 students. Assuming that students make their decisio
How could I find out what the chances are of raining in the next x-amount of days during the next 30 days? If a weatherman, for instance, forecasted that there's 70% chance of rain tomorrow, how can I use that information to predict the chances of getting rain in the next, let's say, 15 days?
The probability is 1 in 4,000,000 that a single auto trip in the United States will result in a fatality.
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? (b) Why might the assumption of independence be violated? (c) Why might a driver be tempted not t
Suppose investigators are interested in a population of patients who have been recently diagnosed with a particular kind of colon cancer (nonpolypoid colorectal neoplasm). They believe the diameter of the colon cancer lesion at first diagnosis in this particular population is 15.9mm with standard deviation 10.2mm . Let x= lesion
The national sales manager for Haynes T-shirts supplies all salespersons with the payoff table shown below
Need help on some questions and answers. Please explain your answers if possible. Reference: 20-1 The national sales manager for Haynes T-shirts supplies all salespersons with the payoff table shown below, giving the potential profit generated when a retailer purchases from 1 to 4 dozen, as well as an opportunity loss table
Assume that the readings on the thermometers are normally distributed with a mean of 0 degrees and a standard deviation of 1.00 degree C.
Dear OTA, Please help me in solving the following problems. ======================= Assume that the readings on the thermometers are normally distributed with a mean of 0 degrees and a standard deviation of 1.00 degree C. A thermometer is randomly selected and tested. In each case, draw a sketch and find the probability
1. The probability that an experiment has a successful outcome is 0.8. The experiment is to be repeated until five successful outcomes have occurred. What is the expected number of repetitions required? What is the variance? 4. In a lot of 10 components, 2 are sampled at random for inspection. Assume that in fact exactly 2
Using the areas of the standard normal distribution (Z table), 1) Find a value , Xo, such that =160 and sq. =256 a) P(X < Xo) = 0.16 b) P(X Xo) = 0.75 2) Find a Z score, call it Zo, such that: a) P (Z Zo) = 0.212 b) P (Z Zo) = 0.885 c) P (Z Zo) = 0.7704 d) P (-Zo Z Zo) = 0.8414 e) P (-2 Z Zo) = 06722
Find the indicated probabilities using the standard normal distribution table. Please show detail of calculation. a) P(0<z<1.83) b) P(-1.18 <z<0) c) P(-1.26 z 2.11) d) P(-2.08 < z 0.63) e) P (z 0) f) P(z < 0.95) g) P (z > -1.09)
True or False: Under certain conditions, it is possible that the sum of the probabilities of all the sample points in a sample space is less than one.
Part I T/F & Multiple Choice 1. Under certain conditions, it is possible that the sum of the probabilities of all the sample points in a sample space is less than one. ___ T/F 2. A compound event formed by use of the word and requires the use of the addition rule. ____ T/F 3. In any binomial probability experime
Rice Virtual Lab to see how a biased coin may disrupt normalcy. Try several variations with different values of p to form a skewed distribution.
See Attachment for full description. DE#4. In RES 341 we flipped coins to learn some features and facts about probabilities. We flipped over 9,000 coins with each student flipping about 30 and the combined team had about 3,000 and three teams brought it up to 9,000. We discovered that the distribution tended to become norma
Break Even - A Pool Supply sells all types of billiard equipment, and is considering manufacturing their own brand of pool cues.
A. A Pool Supply sells all types of billiard equipment, and is considering manufacturing their own brand of pool cues. Mysti Farris, the production manager, is currently investigating the production of a standard house pool cue that should be very popular. Upon analyzing the costs, Mysti determines that the materials and labor
A company has 95% customer satisfaction. The company gets info by surveying customers over the phone. The satisfaction of each customer is considered to be independent from the others. If 40 customers are surveyed at random, what is the type of probability distribution is the model for this solution? What is the expected numb
Shuttles arrive every 5 minutes to take people to the parking lot, the amount of time that passengers wait is uniform continuous probability distribution between 0 and 5 minutes. How do I draw a graph of this probability distribution of the waiting times using both scales? What is the probability that the next passenger wi