The daily trading volumes (millions of shares) for stocks traded on the New York Stock Exchange for twelve days in a certain period are given below. See attachment. Assume that the probability distribution of trading volumes is approximately normal. 1. Compute mean and standard deviation for daily trading volumes to use
1. True or false, and explain: (a) If something has probability 1,000%, it is sure to happen. (b) If something has probability 90%, it can be expected to happen about nine times as often as its opposite. 2. The chance of A is 1/3; the chance of B is 1/10. True or false, and explain: (a) If A and B are independent, th
A manufacturer has nine distinct motors in stock, two of which are from a particular supplier. The motors must be divided among three production lines, with three motors going to each line. If the assignment of motors to lines is random, find the probability that both motors from the particular supplier are assigned to the fir
I need help with the probability and explaining it. This is graduate level work. Please see attached case study. The questions I need help with are the two for the case study at the bottom of the page. These are the two discussion questions: 1. What are the chances of getting 15 days of rain over the next 30 days? 2.
Powerball is a lottery game. It involves choosing five white balls from a drum containing 55 balls and one red ball from a drum containing 42 balls. A player must match all five white balls and the red ball to win the jackpot. How would you investigate the question about the probability of matching only the red ball? What
1. A study shows that employees that begin their work day at 9:00 a.m. vary their times of arrival uniformly from 8:40 a.m. to 9:30 a.m. The probability that a randomly chosen employee reports to work between 9:00 and 9:10 is: 40% 20% 10% 30% 16.7% 2. Suppose that the times requ
Your company's internal auditor believes that 10% of the company's invoices contain errors. To check this theory, 20 invoices are randomly selected and 5 are found to have errors. What is the probability that of the 20 invoices written, five or more would contain errors if the theory is valid? a. .0433 b. .03
As a result of an increase in demand for a town's parking facilities, the owners of a car park are reviewing their business operations. A decision has to be made to choose one of the following options: Option 1. Make no change. Annual profit is $200,000. There is little likelihood that this will provoke new competition.
The wheat harvesting season is short. Farmers deliver their truck loads of wheat to a giant central storage bin within a two-week span. Because of this, wheat-filled trucks waiting to unload and return to the fields have been known to back up for a block at the receiving bin. The central bin is owned cooperatively and it is to
Five percent of patients suffering from a certain disease are selected to undergo a new treatment that is believed to increase the recovery rate from 30% to 50%. A person is randomly selected from these patients after the completion of the treatment and is found to have recovered. What is the probability that the patient receive
Using our data provided below in this post, compose an e-mail to the head of the American Intellectual Union, which includes the following: Begin your e-mail to AIU by first providing an overview of the database, that is, a story about the characteristics that may include types of variables, etc. Be sure to include i
******Please help me with this and show me how to do it. Using our data set which is attached, Use the attached templete: 1.Begin your e-mail to AIU by first providing an overview of the database, that is, a story about the characteristics that may include types of variables, etc. 2.Be sure to include information about
A zoo has a large primate collection including eight baboons and six chimps. If a vet randomly picks four of them for examination, what are the probabilities that these would include: (a) two baboons and two chimps (b) one baboon and three chimps
See attached file for graphs and tables. 1. A study of 45 bolts of carpet showed that their average length was 78.2 yards. The standard deviation of the population is 1.6 yard.Which of the following is the 95% confidence interval for the mean length per bolt of carpet? A 77.8 < µ< 78.6 B 77.3 < µ< 79.1 C 78.0 < µ
James Choi, David Laibson, and Brigitte Madrian conducted an experiment to study the choices made in fund selection. Suppose 100 undergraduate students and 100 MBA students were selected. When presented with four S&P 500 index funds that were identical except for their fees, undergraduate and MBA students chose the funds as fo
The managers of a mutual fund company are looking at account values among investors in their funds. Upon analyzing the investor records, they find that the mean investor account value is 19,000, with a standard deviation of $4,400. Assuming that the account values are normally distributed: 1.) Calculate z for an account val
The Oil Price Information Center reports the mean price per gallon of regular gasoline is 3.26 with a population standard deviation of 0.18. Assume a random sample of 40 gasoline stations is selected and their mean cost for regular gasoline is computed. a.) What is the standard error of the mean in this experiment? b.) What
Answer the following: (A) Find the binomial probability P(x = 6), where n = 15 and p = 0.60. (B) Set up, without solving, the binomial probability P(x is at most 6) using probability notation.
See attached files. Compose an e-mail to the head of the American Intellectual Union, which includes the following: Begin your e-mail to AIU by first providing an overview of the database, that is, a story about the characteristics that may include types of variables, etc. Be sure to include information about where stat
The average price of a gallon of unleaded regular gasoline was reported to be $3.13 in Illinois (http://www.cincygasprices.com). Use this price as the population mean, and assume the population standard deviation is $.20. A) What is the probability that the mean price for a sample of 30 service stations is within $.03 of
The Bureau of Labor Statistics' American Time Use Survey showed that the amount of time spent using a computer for leisure varied greatly by age. Individuals age 75 and over averaged .15 hour (9 minutes) per day using a computer for leisure. Individuals ages 15 to 19 spend 1.0 hour per day using a computer for leisure. If these
Americans ate an average of 25.7 pounds of confectionary products each last year and spent an average of $61.50 per person doing so. If the standard deviation for consumption is 3.75 pounds and the standard deviation for the amount spent is $5.89, find the following: a. The probability that the sample mean confectionary consumption for a random sample of 40 American consumers was greater than 27 pounds. b. The probability that for a random sample of 50, the sample mean for confectionary spending exceeded $60.00.
Americans ate an average of 25.7 pounds of confectionary products each last year and spent an average of $61.50 per person doing so. If the standard deviation for consumption is 3.75 pounds and the standard deviation for the amount spent is $5.89, find the following: a. The probability that the sample mean confectionary consu
Average Precipitation For the first 7 months of the year, the average precipitation in Toledo, Ohio, is 19.32 inches. If the average precipitation is normally distributed with a standard deviation of 2.44 inches find these probabilities. a. A randomly selected year will have precipitation greater than 18 inches for t
CFL Manufacturing lists the average weight of parts produced as 425mg with a standard deviation of 3mg. A. What is the probability that a single part will weigh 426mg or more? (assume the parts are relatively normally distributed) B. A study of 36 parts finds an average weight of 426mg with a standard deviation of 3.098mg. i
The sketch below shows an open queuing system with three stations. External arrivals to stations one to three occur at the Poisson rates of 5/hr, 7/hr and 10/hr respectively. 70% of the arrivals to workstation 1 leave the system while 30% proceed to work station 2. 10% of the workstation 2 arrivals are recycled back to workstati
Please explain solutions for #21, 22. A final Math exam has a normal distribution with mean 73 and standard deviation 3.5. 21- If one student is randomly selected, find the probability that his score be less than 71: A) 0.7158 B) 0.2843 C) 0.4934 D) 0.6432 22- If 25 students are
Please explain the steps to solve the problems. The number of correct answers on a 10 questions test has Binomial Distribution with parameters n= 10 p= 0.40: 16- Find P( X > 7): A) 0.43 B) 0.013 C) 0.23 D) 0.68 17- Find the expected number (mean) of correc
Please provide explanation and answers to these questions. 1. The Speed master IV automobile gets an average 22.0 miles per gallon in the city. The standard deviation is 3 miles per gallon. Assume the variable is normally distributed. Find the probability that on any given day, the car will get more than 26 miles per gallon
Please refer to the attachment for the problem.
See attached file. 1. At a swimming pool there are 2 managers, 8 lifeguards, 3 concession stand clerks, and 2 maintenance people. If a person is selected at random, find the probability that the person is either a lifeguard or a manager. 2. An automobile dealer has 10 Fords, 7 Buicks, and 5 Plymouths on his used-car lot. I