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    Probability

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    Quantitative Methods

    A local energy provider offers a landowner $180,000 for the exploration rights to natural gas on a certain site and the option for future development. This option, if exercised, is worth an additional $1,800,000 to the landowner, but this will occur only if natural gas is discovered during the exploration phase. The landowner, b

    Quatitative Methods/Statistics/Business Math

    (See attached file for full problem description) --- 1. A large sporting goods store is placing an order for bicycles with its supplier. Four models can be ordered: the adult Open Trail, the adult Cityscape, the girl's Sea Sprite, and the boy's Trail Blazer. It is assumed that every bike ordered will be sold, and their

    20 percent employees steal and probability that 5 will steal

    A recent report in Business Week indicated that 20 percent of all employees steal from their company each year. If a company employs 50 people, what is the probability that: a. Fewer than 5 employees steal? b. More than 5 employees steal? c. Exactly 5 employees steal? d. More than 5 but fewer than 15 employees steal?

    Probability of selecting a female student, accounting major

    A survey of undergraduate students in the School of Business at Northern University revealed the following regarding the gender and majors of the students: Major Gender Accounting Management Finance Total Male 100 150 50 300 Female 100 50 50 200 Total 200 200 100 500

    Discrete Probability Distributions

    1. The probabilities that a customer selects 1, 2, 3, 4 and 5 items at a convenience store are 0.32, 0.12, 0.23, 0.18, and 0.15, respectively. Fill in the probabilities. Outcome X 1 2 3 4 5 P(X) 2. A study conducted by a TV station showed the number of televisions pe

    Assist w/ probability

    1.Sixyy nine percent of adults favor gun licensing in general. Choose one adult at random. What is the probability that the selected adult doesn't believe in gun licensing? 2.In a recent year, of the 1,184,000 bachelor's degrees conferred, 233,000 were in the field of business, 125,000 were in the social sciences, and 106

    Probability distribution

    If the probability of getting caught copying someone else's exam is .1, find the probability of not getting caught in three attempts. Assume independence.

    To determine probabilities of normal distribution

    A normal distribution has a mean of 50 and a standard deviation of 4. a. Compute the probability of a value between 44.0 and 55.0. b. Compute the probability of a value greater than 55.0. c. Compute the probability of a value between 52.0 and 55.0. --- A normal population has a mean of 12.2 and a standard deviation of

    Probability of Plumbing Truck Availability

    All Seasons Plumbing has two service trucks which frequently break down. If the probability the first truck is available is .75, the probability the second truck is available is .50, and the probability that both trucks are available is .30, what is the probability neither truck is available?

    Probability Study Questions

    A study by the National Park Service revealed that 50 percent of vacationers going to the Rocky Mountain region visit Yellowstone Park, 40 percent visit the Tetons, and 35 percent visit both. a. What is the probability a vacationer will visit at least one of these attractions? b. What is the probability .35 called? c. A

    Cumulative Binomial Probability Distributions

    A manufacturer of window frames know from long experience that 5% of the production will have some type of minor defect that will require an adjustment. What is the probability that in the sample of 20 window frames: A. None will need adjustment? B. At least one will need adjustment? C. More than two will need adjustment?

    Approximating Probabilities of Workers that Use Public Transport

    Suppose 5.9% of certain population use public transportation to get to work. You randomly select 380 workers and ask them if they use public transportation to get to work. Use the normal distribution to approximate the following probabilities. 1) find the probability that exactly 25 workers will say yes. 2) at least 25 wo

    Probability of a Metal Sheet Being Flawed

    Flaws in the plating of large sheets of metal occur at random on the average of 1 in a section of area 10 sq ft. What is the prob that a sheet 5 by 8 ft will have no flaws? At most one flaw?

    Poisson distribution of telephone calls

    Telephone calls are being produced through a certain exchange at random times on the average of 4 per min. Determine the probability in a 15 second interval there are 3 or more calls.

    Probability of Approximating Real Numbers with Rationals

    We want to show that a real number, chosen at random from the interval [0,1], can be approximated to within 1/(n²) by rational numbers of the form k/n. To do this we consider for ?>0 the event A(n)= {|X - k/n| < n^(-2-?) for one k = 0,1,...,n} Determine the probability that only finitely

    Help understanding statistics problem

    Cruise ships of the Royal Viking line report that 80 percent of their rooms are occupied during September. For a cruise ship having 800 rooms, what is the probability that 665 or more are occupied in September?

    Down River Federal Savings - probabilities from a normal distribution

    The amounts of money requested on home loan applications at Down River Federal Savings follow the normal distribution, with a mean of $70,000 and a standard deviation of $20,000. A loan application is received this morning. What is the probability? a. The amount requested is $80,000 or more? b. The amount requested is be

    Conditional Probability and Independence

    I am having trouble on knowing where to start on this problem. Please help concerning where to plug in the numbers and how to find the solution. See attached file. Concerning the events A and B, the following probabilities are given. P (B) = ¼ P (A/B) = ½ P (A/B') = 1/3 Determine {a}

    Venn Diagrams, Probability of Selecting, Probability of Failure

    See the attached file. 1. The Venn diagram displays the results of all of the register voters in the county. What is the probability that a registered voter in the county vote in the election? 2. A certain virus infected one in every 200 people. A test used to detect the virus in a person is positive 99% of the time if the p

    Probability Random Data for Drug Tests

    Consider a comp. that selects employees of ramdom data drug test. the comp. uses a computer to select randomly employees # that range from 1 thru 6873. probability of selecting a # < 500.

    Data Collection in Business and Marketing

    What are examples from the workplace related to how data are collected and displayed to facilitate the determination of probability in the resolution of business-related and marketing problems?