Probability

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Financial Decision-Making : Borrowing Decisions Simulation and Simulation Based Cash-Budgeting

Help me understand questions that reflect the borrowing decisions simulation.

Calculations with Mean and Standard Deviation

The verbal part of the SAT has a mean of 500 and a standard deviation of 100. If we randomly selected 1500 students who had taken the the verbal SAT how many would score lower than 250?

Probability of Being Contacted in an Emergency

Jules, Vincent, and Mia are physicians at the local hospital. One of their duties is being on call during non-working hours to handle any emergencies that might come up. Each carries a pager that can be activated by hospital personnel. Suppose Jules responds to his pager 80% of the time, Vincent responds to his pager 55% of the

Probability Distribution for a Basketball Game

Please calculate the probability distribution and answer questions a and b At the end of a basketball game, a team is down by 1 point. As the last play, a player from that team throws a three-point shot that misses, but the player is fouled and he gets to take 3 free throws (each worth 1 point) to end the game. On any given f

Probability of Winning a Basketball Game

At the end of a basketball game, a team is down by 1 point. As the last play, a player from that team throws a three-point shot that misses, but the player is fouled and he gets to take 3 free throws (each worth 1 point) to end the game. On any given free throw, the probability that the player makes the shot is twice as large as

Probability Code Possibilities

Secured doors at airports and other locations are opened by pressing the correct sequence of numbers on a control panel. If the correct panel contains the digits 0-9 and three digit code must be entered (repetition is permitted) a) How many different codes are possible? b) If one code is entered at random, find the prob

Probability of Selecting Certain Marbles from a Bag

A box contains 4 marbles: 2 red, one blue and one green. Two marbles will be selected at random. Find the probability of selecting each of the following. A) with replacement B) without replacement i A red marble and then a blue marble ii Two blue marbles iii No red marbles iv No green marbles.

A TV remote has keys for channels 0-9...

A TV remote has keys for channels 0-9. If you selected one key at random. a. What is the probability that you press channel 3? b. What is the probability that you press a key for a even number channel? (Assume 0 is even) c. What is the probability that you press a key for a number less than 7?

Empirical Probability of Guinea Pigs

An experimental serum was injected into 500 guinea pigs. Initially, 150 of the guinea pigs had circular cells, 250 had elliptical cells, and 100 had irregularly shaped cells. After serum was injected, none of the guinea pigs with circular cells were affected, 50 with elliptical cells were affected and all of those with irregul

Probability

Find the number of different arrangements of the letters in the word MISSISSIPPI?

Probability - Choices for an editor

An editor has 8 manuscripts for mathematics and 5 for computer science book. If he is to select 5 math and 3 computer books for publications, how many different choices does he have for each?

Determining Likihood of Selection

Refer to the Baseball 2000 data (Appendix K), which contains information on the 2000 Major League Baseball season. There are 30 teams in the major leagues, and 7 of them have home fields with artificial playing surfaces. As part of the negotiations with the players' union, a study regarding injuries on grass versus artificial su

Husband and wife are both sickle cell carriers.

Give a precise, complete and unambiguous response to this question, free of mathematical jargon to the following question. Please consider issues as the independence of events or the relative frequency definition of probability. Husband and wife are both sickle cell carriers. The doctor says that the husband and wife should

Set Theory

Records at an industrial plant show that 12% of all injured workers are admitted to a hospital for treatment, 16% of all injured employees are back on the job the next day. Two percent are both admitted to the hospital for treatment and back at work the next day. If a worker is injured, what is the probability that the worker wi

Binomial Probability

A manufacturer of headache medicine claims it is 70% effective within a few minutes. That is, out of every 100 users, 70 get relief quickly. A group of 12 patients are given the medicine. If the claim is true, what is the probability that 8 have relief in a few minutes? a. 0.001 b. 0.168 c. 0.667 d. 0.231 e. None of the

Probability and Statistics

1. A package of frozen vegetables has a label that says "contents 32 oz." The company that produces these packages knows that the weights are normally distributed with mean 32 oz. and has a standard deviation of 2 oz. If a package is chosen at random, what is the probability it will weigh (Hint: Draw a picture) a. More than 36

Normal distribution

Profits (X ) in an industry consisting of 100 firms are normally distributed with a mean value of $1.5 million and a standard deviation of $120,000. Calculate : (a) P(X<$1.3 million) (a) P($1200,000 £ X £ $1,400,000) Suppose a random sample of 10 firms gave a mean profit of $900,000 (b) Establish a 95% confidence in

Samples and Probability Standard Deviation

I have a population of 100, mean of 500 and standard deviation of 100. I am asked what range of values should contain the sample mean 90% of the time. I have calculated the standard error =10. I don't know what figure to use in the z scores tables, column d. 1/2 of 90% is 45% or .4500. My choices in column D are .4495

Selecting a sample of a proudction line filling cans

You have a production line filling cans with an average weight of 1005gr and standard deviation of 15gr. If you selected a sample of 100 cans, what is the probability that the combined weight of the 100 cans exceeds 100.8 Kg?

Statistical Probability

Solve for Random Probability (See attached file for full problem description) --- Credit card companies have aggressively solicited new accounts from students who are new homeowners. Suppose that a sample of 150 new homeowners indicated the following information as to whether they possessed a Visa Card or an American Expr

Lottery Tickets Probability

If ten lottery tickets are sold and you and your friend each bought one, what is the probability your friend will get first prize and you will get second? What about the probability you will get first prize and she will get second?

What is the probability of 3 heads in five flips of a coin?

What is the probability of 3 heads in five flips of a fair coin?

Probability

A cola-dispensing machine is set to dispense 9.00 ounces of cola per cup, with a standard deviation of 1.00 ounces. The manufacturer of the machine would like to set the control limit in such a way that for samples of 36,5 percent of the sample means will be greater than the upper control limits, and 5 percent of the sample mean

Probability of Error

A voltmeter is used to measure a known voltage of 100 V. Forty percent of the readings are within 0.5 V of the true value. Estimate the standard deviation for the meter. What is the probability of an error of 0.75 V?

Standard Deviation & Probability of Error

Measures of central tendency-the mean, the median, and the mode

Each of the three measures of central tendency-the mean, the median, and the mode-are more appropriate for certain populations than others. For each type of measure, I need two additional examples of populations where it would be the most appropriate indication of central tendency.

Binomial Probability

A manufacturer of window frames knows from long experience that 5 percent of the production will have some type of minor defect that will require an adjustment. What is the probability that in a sample of 20 window frames: a. None will need adjustment? b. At least one will need adjustment? c. More than two will need adjustmen

The answer to Uniform distribution

A uniform distribution is defined over the interval from 2 to 5. a. What are the values for a and b? b. What is the mean of this uniform distribution? c. What is the standard deviation? d. Show that the total area is 1.00. e. Find the probability of a value more than 2.6. f. Find the probability of a value between 2.9 and

Binomial Probability

Suppose 60 percent of all people prefer Coke to Pepsi. We select 18 people for further study. a. How many would you expect to prefer Coke? b. What is the probability 10 of those surveyed will prefer Coke? c. What is the probability 15 prefer Coke?

Binomial Probability

The United States Postal Service reports 95 percent of first class mail within the same city is delivered within two days of the time of mailing. Six letters are randomly sent to different locations. a. What is the probability that all six arrive within two days? b. What is the probability that exactly five arrive within two d