Discuss the below:
Q1: Jim is considering pursuing an MS in Information Systems degree. He has applied to two different universities. The acceptance rate for applicants with similar qualifications is 20% for University X and 45% for University Y. What is the probability that Jim will be accepted at one and only one university?
Q2: Two Psychology majors, in 2 different sections of Clinical Psychology, were comparing test scores. The following gives the students' scores, class mean, and standard deviation for each section:
.............................Section 1 .......Section 2
Score .........................84 ..................75
Mean ..........................75 ..................60
Standard deviation........7 ...................8
What is the z-score of the student from section 1 and what is the probability that a student in section 1 will score higher than 84?
Q3: A loaf of bread is normally distributed with a mean of 22 oz and a standard deviation of 0.5 oz. What is the probability that a loaf is between 20.75 and 23.25 oz?
Q4: A study of a company's practice regarding the payment of invoices revealed that on the average an invoice was paid 20 days after it was received. The standard deviation equaled 5 days. Assuming that the distribution is normal, what percent of the invoices is paid within 15 days of receipt?