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In a family of 4 children: Find the probability that there are 2 girls and 2 boys. What are the odds for having 2 girls and 2 boys?
What is the probability that the value of the portfolio is greater than $2,000? What is the mean and standard deviation of James' portfolio if stocks are not correlated?
Response time at an online site can be modeled with an exponential distribution with a mean service of 5 minutes. John knows this and it is not sure to wait for an answer. What is the probability th
Compute the probability of two or more Web site visitors in a one-minute period. Compute the probability of one or more Web site visitors in a 30-second period.
Where temp is temperature. Find how much she is expected to pay in January. Moreover, obtain the variance and standard deviation of the heating bill.
Compute the probability of receiving three calls in a five-minute interval of time. Compute the probability of receiving exactly 10 calls in 15 minutes.
Use α = .05 and test to see whether the consultant with more experience has the higher population mean service rating. Compute the value of the test statistic.
Assume that Charlotte has two stocks: Disney (D) and Amazon (A). For each of these stocks, the possible percent returns are {0%, 5%, 10%, 15%}. The joint probability of P(d, a) = 0.0625 for all valu
Suppose now David has 5 contracts and now the probability of making a sale is 0.4. Compute the probability that he makes:
From a sample of past Web site visits, management learned that 60% of the visitors to ParFore.com are male and 40% are female. What is the prior probability that the next visitor to the Web site wil
Calculate the mean, variance and standard deviation of Y. Suppose now we have a new random variable X = 2 + 3Y. Construct a 'Bible with the probability distribution of X for each value of Y and X.
What is the probability of a household having income below $25,000? What is the probability of a household headed by someone with a bachelor's degree earning less than $25,000?
If the mean number of small business failures per month is 10, what is the probability that exactly four small businesses will fail during a given month?
Find the mean, variance and standard deviation for the population of the number of persons per household.
Develop a scatter diagram for these data with height as the independent variable. What does the scatter diagram developed in part (a) indicate about the relationship between the two variables?
Suppose an investment is normally distributed with mean 10% and standard deviation 5%. Find the probability of not losing money.
To check the claim, the firm puts 101 of these tires on its trucks and gets a standard deviation of 1200 miles. If a = 0.05, test the trucking firm's claim using confidence intervals.
A continuous random variable Y has P(Y > 10) = 0.16 and P(5 ≤ Y ≤ 10) = 0.15. Find:
If the outcome is heads, then a ball from urn 1 is selected, while if the outcome is tails, then a ball from urn 2 is selected. Suppose that a white ball is selected. What is the probability that
What is the probability that the game will end with the first round of tosses? If all three coins are biased and have probability ¼ of landing heads, what is the probability that the game w
Question: In the U.S., it is estimated that an average person makes 4 visits a year to doctor's offices. (a) What is the mean and standard deviation for an average person of the number of monthly visi
If the sum is anything else, then she continues throwing until she either throws that number again (in which case she wins) or she throws a seven (in which case she loses). Calculate the probabil
Find the expected value, variance and standard deviation of the random variable X defined as ‘retirement at 65'.
In answering a question on a multiple-choice test a student either knows the answer or guesses. What is the conditional probability that a student knew the answer to a question given that she answe
Consider an investment portfolio of $50,000 in stock A and $50,000 in stock B. The expected value of A is 9.5% and B is 6%. The variance of A is 13% and the variance of B is 8%. The covariance betw