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Historically a bank expects about 5% of its borrowers to default (not repay). The bank currently has 250 loans outstanding. The bank also has enough reserves to cover losses if 25 of these loans wer
However, for her pay, she receives $8 per day from her employer plus $.07 commission on each ice cream sale. Find (a) her expected daily profit, and (b) the standard deviation of her daily profit
Find the probability of (a) at least 2 orders for letterhead arriving tomorrow, (b) no orders in the next 2 days. (c) Find the expected number of orders in the next 30 working days. (d) What is the
A box contains 2 red, and 3 white, and 5 green balls. Two balls are drawn out of the box in succession without replacement.
A wins any particular game is 0.49 ( and so B wins any one game with probability 0.51). What is the expected number of games in the series?
A sample of 400 large companies showed that 120 of them offer free health fitness centers to their employees within the company premises. If one company is selected at random from this sample, what
Discuss reliability and validity in qualitative research.
A box contains 3 red and 9 blue balls. Suppose 5 balls are drawn at random(without replacement) from the box. Let Y be the number of red balls drawn. Determine the probability mass function for Y.
There are two types of machines called type A and type B. Both type A and type B can be used to produce a certain product. The production manager wants to compare efficiency of the two machines. He
When comparing the variances of two normally distributed populations using independent random samples, the correct test statistic to use is __________.
When evaluating a new process, using the square root of the upper end of the confidence interval for ?2 gives an estimate of the smallest that ? for the new process might reasonably be.
Suppose that the probability that a duck hunter will successfully hit a duck is 0.40 on any given shot. Suppose also that the outcome of each shot is independent from the others.
The mode of a discrete random variable X with p.m.f. p(x) is that value x* for which p(x) is largest (the most probable x value). Consider X { # failures before 1st success}, distributed geometric(p
An inspector is looking for nonconforming wells in the gasolinepipeline between Phoenix and Tucson. The probability that oneparticular weld will be defective is 0.01. The inspector isdetermined to k
The probability that a person in the United States has type O+ blood is 38%. Three unrelated Americans are selected at random. What is the probability that at least two out of the three have blood t
When a survey calls residential telephone numbers at random, only 24% of the calls reach a live person. You watch the random dialing machine make 20 calls.
Describe the histogram's center, spread, and shape. Explain how these two diagrams represent the Central Limit Theorem.
How does multilinear regression analysis apply to your profession? Specify the dependent value and the set of predictors. Where would you get the data?
You fly from Philadelphia to San Francisco with a connection in Dallas. The probability that your flight from Philadelphia to Dallas arrives on time is 0.8. If you arrive on time, then the probabili
The firm wins one-third of the cases that go to trial. If the case does not go to trial, the firm earns nothing. Half of the cases do not go to trial. What is the probability distribution of this fi
What is the insurance company's expected profit on her policy? That is, find the difference between the price of the policy and the company's expected payment to Julie.
The second product will yeild a profit of $80,000 without the competition but a loss of $30,000 otherwise. The probability that the competitor has developed a rival is 0.6 for the first product and
The following information shows the amount of time (in minutes) that a mechanic on an assembly line misses the design completion time when working on a certain job. Negative values indicate early co
A company is drilling for oil. When it strikes oil, it expects a profit of $100,000. The cost of drilling is $5,000. If the probability of striking is 0.1, what is the expected profit for the compan
Using the models in (a), estimate the nicotine concentration that would kill 50% of flies. Also estimate the dose hat would kill 90% of flies.