1. At a computer manufacturing company, the actual size of computer chips is normally distributed with a mean of 1 centimeter and a standard deviation of 0.1 centimeter. A random sample of 12 computer chips is taken. What is the standard error for the sample mean? a) 0.029 b) 0.050 c) 0.091 d) 0.120 2. The owner of a fish
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I have enrolled anywhere from 7 to 10 students for the past 6 months. Please put this as an example in the rule of 68-95-99.7 (please be specific) In addition, what is the probability of me enrolling more students?
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On any given day, about 45% of the stocks on the American Stock Exchange increase in value. A random sample of four independent stocks is chosen. Assuming a binomial distribution, what is the probability that at least one of the four stocks increase in value?
Assuming A and B are independent events, if P(A) = 0.50 and P(A and B)= 0.21, then, P(B) = 2. Assume a production process is uniformly distributed between 8 and 12 minutes; the probability of the process taking between 9 and 12 minutes is :
1. On any given day, about 45% of the stocks on the American Stock Exchange increase in value. A random sample of four independent stocks is chosen. Assuming a binomial distribution, what is the probability that at least one of the four stocks increase in value? a..3675 b.6090 c.0915 d.3675 e.9085
Given the following table of payoffs use sensitivity analysis to determine at what probability or more you would select decision 3. s1 s2 d1 8 10 d2 2 15 d3 10 3 a none of the choices are correct b .5798 c .5454
At a university with 1000 business majors, 20% are enrolled in a statistics course. Of these 200 students enrolled in the statistics course, 25% are also enrolled in an accounting course. There are 250 students who are enrolled in accounting and not enrolled in statistics. Of the students is enrolled in statistics, what is the p
Prepare answers to the following assignments from the e-text, Applied Statistics in Business and Economics, by Doane and Seward: Chapter 5 - Chapter Exercises 5.62 and 5.70 Note: Methods of computation could include the usage of Excel, SPSS, Lotus, SAS, MINITAB, or by hand computation. 5.62 A certain airplane has tw
1. Provide an example of an application of the normal distribution. 2. Explain why standard normal distribution can be used to find the probabilities for all normal distributions? 3. I need an example of binomial experiment.
There are two urn, a green urn and a red urn. The green urn contains 17 green balls and the red urn contains 15 red balls.Each round, one ball is chosen randomly from either urn. The probability that the green urn on any given round is chosen is 4/7. The probability that the red urn is chosen is 3/7. What is the probabil
Please help me with the attached questions. Please also provide the formulas used and how the numbers are plugged into the formula. Thank you. 1.) Faced with rising fax costs, a firm issued a guideline that transmissions of 10 pages or more should be sent by 2-day mail instead. Exceptions are allowed, but they want the averag
An American put option to sell a swiss franc for dollars has a strike price of $0.80 and a time to maturity of one year. The volatility of the swiss franc is 10%, the dollar interest rate is 6%, the swiss franc interest rate is 3%, and the current exchange rate is 0.81. Use a tree with three time steps to value the option. Estim
One class of hedge funds, the equity-market-neutral hedge fund, averaged 6% for 2003. If their returns were approximately uniformly distributed between 0% and 12% for 2003, what percentage of the funds performed within one standard deviation of 6%?
The staff at a small company includes: 4 secretaries, 20 technicians, 4 engineers, 2 executives, and 50 factory workers. If a person is selected at random, what is the probability that he or she is a factory worker? a. 1/4 b. 1/8 c. 5/8 d. 2/5
Please see that attached files. Must be completed in Excel (version no higher that 2003). The Excel spreadsheet contains the sample of how the problem should be work (the WORD document is the problem).
1. A company markets two products (Product A and Product B) through mail order. The company will market them in sequence with the first mail order offer for product A. It feels that there is a 30% chance that any customer will purchase product A. Product B is offered some months later. It is felt, for product B, that there is
Mary Tosses a coin 3 times and john does the same. A) Find probability Mary obtains one head. I have that answer which i think is 1/33 or 33%, but do I include John's tosses also in that? b) Find the probability that Mary obtains exactly one head and so does John. Here I thought to do 1/2 times 1/2 = 1/4 is that right?
The Stripes C-store chain reports that 7% of its credit card holders will default within 5 years. It just mailed out 12 new cards today. a.How many of these new cardholders would be expected to default within 5 years? What is the standard deviation? b.What is the likelihood that none of these cardholders will default? c.Wha
My son plays for the Hooks and his average is .333. Therefore I am going to assume the probability of him getting a hit is .333 for each time he bats. In a recent game he batted three times. What was the probability of him getting at least one hit? What was the probability of him getting two hits in the game? What was the
1. National Association of Insurance Commissioners The average annual cost of automobile insurance is $687 (National Association of Insurance Commissioners, January 2003). Use this value as the population mean and assume that the population standard deviation is σ = $230. Consider a sample of 45 automobile insurance polic
9.Nationally, 38% of fourth-graders cannot read an age-appropriate book. The following data show the number of children, by age, identified as learning disabled under special education. Most of these children have reading problems that should be identified and corrected before third grade. Current federal law prohibits most chil
Certain stocks are recommended each month by a monthly magazine. If 40% of the stocks recommended advance at least 20%, what is the probability that of the five stocks most recently recommended, at least three will advance at least 20%? Please explain each step.
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
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
3. The kinetic energy of an oxygen molecule in the J.H. Michell Theatre is a (3/2, 1) - distributed random variable X (in some energy units). Compute the probability that: (a) 2 <_ X <_ 4; (note: sign is smaller and equals to) (b) 2 < X < 4.
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