Purchase Solution

Telephone Probability

Not what you're looking for?

Ask Custom Question

Question 1

Assume that you are the owner of a small business that employs two people
on a telephone help desk. Records show that one of the employees is busy
taking calls for 40% or the time and the other is busy taking calls 55% of the
time:

a) What is the probability that when a new call comes in that both of the
employees are busy on the telephone?

b) What is the probability that at least one of the employees will be
available?

Question 2

Venture capital investments tend to be risky investments with a large
proportion of investments being unsuccessful. Suppose that you are the
manager of a venture capital firm with 20 investments. Assuming that it is
known that 70% of venture capital investments will be unsuccessful, determine
the following:

a) The probability that at least 5 of your investments will be successful.

b) The probability that no more than 15 will be unsuccessful.

Question 3

Suppose that 22% of employees in Australia intend to change employers over
the next two years. A company interested in reasons for their employee
turnover randomly samples a number of their employees:

a) If the company randomly samples 20 employees, find the probability
that exactly 4 of them will leave within two years.

b) For a random sample of 20 employees, find the mean, the variance
and the standard deviation for the number of employees that intend to
change employers of the next two years.

Attachments
Purchase this Solution
Solution Summary

The solution discusses probabilities in business.

Purchase this Solution
Free BrainMass Quizzes
Measures of Central Tendency

Tests knowledge of the three main measures of central tendency, including some simple calculation questions.

Terms and Definitions for Statistics

This quiz covers basic terms and definitions of statistics.

Measures of Central Tendency

This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.

Know Your Statistical Concepts

Each question is a choice-summary multiple choice question that presents you with a statistical concept and then 4 numbered statements. You must decide which (if any) of the numbered statements is/are true as they relate to the statistical concept.

View More Free Quizzes
Related BrainMass Solutions

  • Poisson distribution

    28207 Poisson Probability Distribution - Receiving Telephone Calls Telephone calls arrive at the rate of 48 per Hour at the reservation Desk of Card Airways a)Find the probability of receiving 3 calls in a 5-minute interval b)Find the probability

  • independent events based probability

    467438 independent events based probability A company operates a telephone order system for a catalogue of its outdoor clothing products. The catalogue orders are processed in three stages.

  • Probability of a Call

    The solution discusses the probability of a telephone call being received at different hours of the day.

  • Probability: A market research firm conducts telephone surveys with a 40% historic response rate

    272232 Probability of a sample proportion A market research firm conducts telephone surveys with a 40% historic response rate.

  • Capacity Planning and Queuing Models

    The sheriff will install a second telephone booth when an arrival can expect to wait 3 minutes or longer for the phone. a) By how much must the arrival rate per hour increase to justify a second telephone booth?

  • Binomial Distribution of telephone bill outcome

    594365 Binomial Distribution of Telephone Bill Outcome Based upon past experience, 1% of the telephone bills mailed to households are incorrect. A sample of 20 bills is selected.

  • Heister, Magic Pumpkin, King: break even, effective interest rate, open branch office

    The Magic Pumpkin Limousine Company wants to purchase a car telephone system for one of its automobiles.

  • Sampling distribution

    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?

  • Probabilities - Bell Telephone

    3397 Determining the probability using binomial distribution. The Bell telephone co. surveyed an apartment building with 500 units to find out who subscribes to their service. Turns out 70% of the units use Bell's service.

  • Poisson Distribution of Telephone Calls

    84225 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.

View More Related Solutions