1. A person flips a quarter, dime, and nickel. Let x be the number of tails. Complete this probability distribution table. X 0 1 2 3 P(x) 2. For the following normal distribution problems find the indicated values. Include a sketch of the appropriate area with each answer. The area to the left of z = 1.25 The are
A payoff table is given as s1 s2 s3 d1 250 750 500 d2 300 -250 1200 d3 500 500 600 The probability of each state is .2 .4 and .4 in order. What is the EVPI? 925 240
It is estimated that 3% of the athletes competing in a large tournament are users of an illegal drug to enhance performance. The test for this drug is 90% accurate. What is the probability that an athlete who tests positive is actually a user? .2177 .7823 .10885 .4354
Assume that the time required to download a file from the Internet is exponentially distributed with mean equal to 4 minutes. What is the probability that a download will require at least 2 but not more than 4 minutes? (to five decimal places --- 0.xxxxx)
If there are 20 people in the room, 12 men and 8 women, what is the probability of picking two people, without replacement, getting a woman on the first and a man on the second? Explain what rule of probability applies, show it, and show the numbers that apply to the problem.
A portfolio manager believes that tomorrow's foreign exchange rate of German marks per U.S. dollar will be Normally distributed with mean 2.03 and standard deviation 0.08. Using the manager's numbers: 1. what is the probability that tomorrow's rate will be above 2.08? 2. what is the probably that tomorrow's rate will be belo
Jane has an early class tomorrow morning. She knows that she needs to get to bed by 10:00 pm in order to be sufficiently rested to concentrate and participate in class. However before she goes to bed, she must start and then complete a homework assignment which is due tomorrow morning. According to her experience, the time it ta
Approximately 25% of the population belongs to a health maintenance organization (HMO). Assume that for a randomly selected group of 20 adults, the number belonging to an HMO has a binomial distribution. The probability of finding exactly 5 in the 20 who belong to an HMO is: The probability of finding at least one in th
True/False Indicate whether the sentence or statement is true or false. Question 1 Management science involves the philosophy of approaching a problem in a subjective manner. Question 2 Once management scientist makes his or her decision and recommendation to management, then typically, his or her involvement with the
Estimation of workers to be hired during 3 month period: # to be hired Probability ___________ _________ 0 5% 1 10% 2 15% 3 20% 4 3
Mean income of a sample of workers is $32,000 for 9 months with a standard deviation of $3,000. Without making as assumption about probability distribution, what is the statistically expected proportion of workers that earn less than $26,000 or more than $38,000?
GIVEN: The probability of event A happening is 40%. The probability of event B happening is 50%. The probability of both happening is 30%. QUESTION: If A and B are mutually exclusive, what would be the probability of the union of these two events?
A market research firm conducts telephone surveys with a 40% historical response rate. What is the probability that in a new sample of 400 telephone numbers, at least 150 individuals will cooperate and respond to the questions? In other words, what is the probability that the sample proportion will be at least 150/400 = .375?
Chicken Factory has several stores in the Hilton Head, South Carolina, area. When interviewing applicants for server positions, the owner would like to include information on the amount of tip a server can expect to earn per check (or bill). A study of 500 recent checks indicated the server earned the following tip. Amount of
Assume the readings of inexpensive thermometers for the temperature of the freezing point of water are normally distributed, have a mean of 0 degree C, and a standard deviation of 1 degree C. Find the probability that a randomly selected thermometer will have a reading of greater than -2 degree C for the freezing point of water.
For a normally distributed population, mean of 6.5 and standard deviation of 4, compute: The probability of picking one item from the population and having it fall between 6.5 and 14.5. The probability of picking one item and have it be above 14.34. The point if the probability of picking an item from the population and h
According to the National Climatic Data Center, Miami, Florida experienced 138 days of measurable precipitation (rain) in 1995. By comparison, the weather station at Phoenix, Arizona reported 31 days of precipitation during the same year. Neither amount of precipitation was considered unusual for these two cities. a. A day i
Susan Williams has been the production manager of Medical Suppliers, Inc., for the past 17 years. Medical Suppliers, Inc., is a producer of bandages and arm slings. During the past 5 years, the demand for No-Stick bandages has been fairly constant. On the average, sales have been about 87,000 packages of No-Stick. Susan has
Problem: Bill Holiday is not sure what he should do. He can either build a quadplex (i.e., a building with four apartments), build a duplex, gather additional information, or simply do nothing. If he gathers additional information, the results could be either favorable or unfavorable, but it would cost him $3,000 to gather th
Employees of a local company are classified according to gender and job type. The following table summarizes the number of people in each job category. Male (M) Female (F) Job Administrative (AD) 110 20 Salaried staff (SS) 30
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 30% for University X and 55% for University Y. What is the probability that Jim will be accepted at both universities?
A joint probability can have a value ________ one. greater than less than equal to A and C B and C
You have two kids. A door to door salesman knocks on your door. Your little girl answers. Assume that the chance of having a girl/boy baby is 50% and is independent. What is the probabllity that the second child who is still watching TV is also a girl?
Consider a binomial experiment with 2 trails and p= 0.4. find the probability of at least one success.
Telephone calls arrive at the rate of 48 per hour at the reservation desk for the Paris Hilton. Find the probability of receiving 3 calls in five minute period.
I can do the Hyper formula f(x) = r N-r x n-x divided by N n but I cant figure out all my needed numbers from the problem. Problem states 20% enrolled in training dropped out without co
We would like to make a study of poverty between Americans and Canadians. Company x picked a total of 1,000 American and Canadians in a survey. Upon examination of the collected data, it is found that there are 643 Canadians and 357 Americans in the survey. And 403 of the Canadians are rich and 240 are poor. Of the Americans
Company x manufactures toy panzers. Suppose that in an assortment of 20 toy panzers, there are 5 with defective turrets. Draw with and without replacement. a. If one panzer is selected at random, what is the probability that it has defective turret? b. If two panzers are selected at random, what is the probability tha
The sales records of a real estate agency show the following sales over the past 200 days: Number of Number Houses Sold of Days 0 60 1 80 2 40 3 16 4 4 a. How many sample points are th
Why do alphas differ among industries?