Problem:
1. Telephone calls arrive at the rate of 48 per hour at the reservation desk for the David Parker. Find the probability of receiving 3 calls in a five-minute period.
Put your answer in the form 0.xxxx (four places) with no additional symbols or numbers.
2. Consider a binomial experiment with 2 trials and p = 0.4. Find the probability of at least one success.
Put your answer in the form 0.xx with no additional symbols or numbers
3. You have two kids. A door to door salesman knocks on your door. Your little girl answers. Assume that the chance of having a girl/boy baby is 50% and is independent. What is the probability that the second child who is still watching TV is also a girl?
Put your answer in the form 0.xx with no other symbols or numbers.
(Hint: sketch out the problem space - the possible combinations of Boy/girl and eliminate any)
4. An oil drilling operation predicts the success of a new well based on the geological structure. Experience shows that the probability of a type A structure at the site of a productive well is 0.40. The company also knows that 50% of all wells are drilled in locations with type
A structure. Finally, 30% of all wells drilled are productive.
If the drilling process begins in a location with a type A structure, what is the probability of having a productive well at that location?
Put your answer in as 0.xx with no other symbols or numbers.
5. When planning the new baseball stadium for Washington DC, you are asked to find the break-even point for the number of luxury skyboxes built. The boxes are for sale to corporations and wealthy individuals for $100,000 each. The fixed cost for the entire upper deck is is $1,500,000 with a variable cost of $50,000 each per box. The break-even point is ___________ boxes.
Enter you answer as xx or xx.x
6. Use the information from the previous question and tell me the expected profit for 50 luxury boxes?
Put your answer as x with no other symbols, no commas etc.