Assignment Problem: Complete the problems below from the textbook. You will need to use the "Baseball 2016 Data," "Lincolnville School District Bus Data," and the "Century National Bank Data" files for this assignment.
For problems requiring computations, please ensure that your Excel file includes the associated cell computations and/or statistics output. This information is needed in order to receive full credit on these problems.
Problem 1: An auditor for Health Maintenance Services of Georgia reports 40% of policyholders 55 years or older submit a claim during the year. Fifteen policyholders are randomly selected for company records.
a. How many of the policyholders would you expect to have filed a claim within the last year?
b. What is the probability that 10 of the selected policyholders submitted a claim last year?
c. What is the probability that 10 or more of the selected policyholders submitted a claim last year?
d. What is the probability that more than 10 of the selected policyholders submitted a claim last year?
Problem 2: Refer to the Baseball 2016 data. Compute the mean number of home runs per game. To do this, first find the mean number of home runs per team for 2016. Next, divide this value by 162 (a season comprises 162 games). Then multiply by 2 because there are two teams in each game. Use the Poisson distribution to estimate the number of home runs that will be hit in a game. Find the probability that:
a. There are no home runs in a game.
b. There are two home runs in a game.
c. There are at least four home runs in a game.
Problem 3: Management at Gordon Electronics is considering adopting a bonus system to increase production. One suggestion is to pay a bonus on the highest 5% of production based on past experience. Past records indicate weekly production follows the normal distribution. The mean of this distribution is 4,000 units per week and the standard deviation is 60 units per week. If the bonus is paid on the upper 5% of production, the bonus will be paid on how many units or more?
Problem 4: Best Electronics Inc. offers a "no hassle" returns policy. The daily number of customers returning items follows the normal distribution. The mean number of customers returning items is 10.3 per day and the standard deviation is 2.25 per day.
a. For any day, what is the probability that eight or fewer customers returned items?
b. For any day, what is the probability that the number of customers returning items is between 12 and 14?
c. Is there any chance of a day with no customer returns?
Attachment:- Data-Century national bank.rar