Statistics for Business and Economics
8th Edition
ISBN: 9780132745659
Author: Paul Newbold, William Carlson, Betty Thorne
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Question
Chapter 5.1, Problem 1E
To determine
Calculate the probability.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
The number of orders for installation of a computer information system arriving at an agency
per week is a random variable x with the probability distribution .
3
0.10
3, 4, 5, 6, 7, 8, 9
4
0.20
The cumulative probability distribution is
0.1, 0.3, 0.6, 0.8, 0.9, 0.95, 1.0
0.1, 0.2, 0.3, 0.2, 0.1, 0.05, 0.05
0.3, 0.8, 1.5, 1.2, 0.7, 0.4, 0.45
3, 7, 12, 18, 25, 33, 42
5
0.30
6
0.20
7
0.10
8
0.05
9-
0.05
The joint probability distribution of two random variables, Xand Y, is given in the table below.
Y=-4 Y--3 Y--1 Y-2
X--4 0.06
0.12
0.17 0.18
X--1
0.00
0.03
0.00 0.21
X-0 0.02
0.01
0.20 0.00
From the information in the table, calculate each of the following probabilities.
Round your answers to two decimal places.
(If necessary, consult a list of formulas.)
(a) Given that Y=-3, compute the probability that X=0.
Given that X2 -1, compute the probability that
(b)
Y2-3.
Let z be the standard normal random variable.
1
Find
P(z > 1.45)
a
0.0452
b
0.0531
c
0.0625
d
0.0735
Chapter 5 Solutions
Statistics for Business and Economics
Knowledge Booster
Similar questions
- a) Grace Floral Shop sells several types of roses for all occasions. It is known that 43% of the roses that is sold by Grace Floral Shop are Eden Roses. 12 roses are ordered to put in a bouquet (i) Define the random variable for this situation and list its values (ii) Stating its parameter(s), what is the probability distribution of this variable? (iii)State the conditions that influence your choice of distribution. (iv)Calculate the probability that at most 2 of the roses were Eden Roses. b) The number of telephone calls coming into Grace Floral Shop to place orders averages 3 per minute. (i) Define the random variable in this situation and list its values. (ii) Stating its parameter(s), what is the probability distribution of this variable? (iii)Compute the probability that 5 calls will arrive per minute. (iv)Compute the probability that 3 or more calls will arrive in a 3-minute interval?arrow_forwardA store sells from 0 to 12 computers per day. Is the amount of daily computer sales a discrete or continuous random variable?arrow_forwardUserif X represents a random variable coming from a normal distribution with mean 5 and it P(X > 6,5) = 0.35 then P(5 < x < 6.5) = 0.15arrow_forward
- Consider the probability distribution function: X: 0. 1. 2. Probability: 0.2 0.7 0.1 For the above distribution function, the variance of Xisarrow_forwardThe random variable Y has a mean of 4 and a variance of 1/9. Let Z =3(Y - 4). Find the mean and the variance of Z.arrow_forwardAssume that the random variable x is normally distributed with mean u = 70 and standard deviation o = 10. Find P(90 < x < 91) 0.9500 0.9951 0.0049 0.4500arrow_forward
- the following probability distribution represents the number of people living in a household (x), and the probability of occurrence (p(x). compute the expected value (mean), the variance, and standard deviation for the random variable. calculations for the mean.x 1 2 3 4 5p(x) .33 .29 .27 .07 .04arrow_forwardUsing the standard normal distribution table, compute the following probabilities P(Z ≥1.92) is:arrow_forwardA random variable X has a continuous uniform distribution from 13 to 26 inclusive. What is P(X 2 22)? 0.3571 0.3077 0.2308 0.4170arrow_forward
- Assume that the traffic to the web site of Smiley's People, Inc., which sells customized T-shirts, follows a normal distribution, with a mean of 4.48 million visitors per day and a standard deviation of 900,000 visitors per day. (a) What is the probability that the web site has fewer than 5 million visitors in a single day? If needed, round your answer to four decimal digits, (b) What is the probability that the web site has 3 million or more visitors in a single day? If needed, round your answer to four decimal digits. (e) What is the probability that the web site has between 3 million and 4 million visitors in a single day? If needed, round your answer to four decimal digits. (d) Assume that 85% of the time, the Smiley's People web servers can handle the daily web traffic volume without purchasing additional server capacity. What is the amount of we traffic that will require Smiley's People to purchase additional server capacity? If needed, round your answer to two decimal digits.…arrow_forwardSuppose we are interested in the relationship between an individual's brown hair and skin color. Based on a random sample of LIU students, we have the following joint probability distribution given by: X-degree of brown hair color 3 Y= degree of skin color 0.12 0.05 0.12 0.01 0.09 0.03 2 0.12 0.07 3 0.16 0.07 0.16 The probability that an individual with degree of brown hair color 1 has degree of skin color 2 is: None of these 0.3 O 0.167 O 0.263arrow_forwardhe local police department must write, on average, 5 tickets a day to keep department revenues at budgeted levels. Suppose the number of tickets written per day follows a Poisson distribution with a mean of 6.4 tickets per day. Find the probability that exactly 6 tickets are written on a randomly selected day from this populationarrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Principles of Economics (12th Edition)EconomicsISBN:9780134078779Author:Karl E. Case, Ray C. Fair, Sharon E. OsterPublisher:PEARSON
Engineering Economy (17th Edition)EconomicsISBN:9780134870069Author:William G. Sullivan, Elin M. Wicks, C. Patrick KoellingPublisher:PEARSON
Principles of Economics (MindTap Course List)EconomicsISBN:9781305585126Author:N. Gregory MankiwPublisher:Cengage Learning
Managerial Economics: A Problem Solving ApproachEconomicsISBN:9781337106665Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike ShorPublisher:Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-...EconomicsISBN:9781259290619Author:Michael Baye, Jeff PrincePublisher:McGraw-Hill Education
Principles of Economics (12th Edition)
Economics
ISBN:9780134078779
Author:Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:9780134870069
Author:William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-...
Economics
ISBN:9781259290619
Author:Michael Baye, Jeff Prince
Publisher:McGraw-Hill Education