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Statistics for Business and Economics Study Set 4
Quiz 4: Random Variables and Probability Distributions
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Question 41
Multiple Choice
It a recent study of college students indicated that 30% of all college students had at least one tattoo. A small private college decided to randomly and independently sample 15 of their students and ask if they have a tattoo. Use a binomial probability table to find the probability that exactly 5 of the students reported that they did have at least one tattoo.
Question 42
Essay
Suppose the number of babies born each hour at a hospital follows a Poisson distribution with a mean of 3. Find the probability that exactly six babies are born during a randomly selected hour.
Question 43
Essay
Compute
(
6
2
)
(
.
3
)
2
(
.
7
)
6
−
2
\text { Compute } \left( \begin{array} { l } 6 \\2\end{array} \right) ( .3 ) ^ { 2 } ( .7 ) ^ { 6 - 2 }
Compute
(
6
2
)
(
.3
)
2
(
.7
)
6
−
2
Question 44
Essay
An airline has requests for standby flights at half of the usual one-way air fare. Past experience has shown that these passengers have about a 1 in 5 chance of getting on the standby flight. When they fail to get on a flight as a standby, the only other choice is to fly first class on the next flight out. Suppose that the usual one-way air fare to a certain city is $158 and the cost of flying first class is $385. Should a passenger who wishes to fly to this city opt to fly as a standby? [Hint: Find the expected cost of the trip for a person flying standby.]
Question 45
Essay
Consider the given discrete probability distribution. Construct a graph for p
(
x
)
( x )
(
x
)
x
1
2
3
4
5
6
p
(
x
)
.
30
.
25
.
20
.
15
.
05
.
05
\begin{array} { | c | c | c | c | c | c | c | } \hline x & 1 & 2 & 3 & 4 & 5 & 6 \\\hline p ( x ) & .30 & .25 & .20 & .15 & .05 & .05 \\\hline\end{array}
x
p
(
x
)
1
.30
2
.25
3
.20
4
.15
5
.05
6
.05
Question 46
Essay
Suppose that 67% of the employees of a company participate in the company's medical savings program. Let x be the number of employees who participate in the program in a random sample of 50 employees. Find the mean and standard deviation of
x
x
x
Question 47
Multiple Choice
The time between arrivals at an ATM machine follows an exponential distribution with
θ
=
10
\theta = 10
θ
=
10
minutes. Find the probability that between 15 and 25 minutes will pass between arrivals.
Question 48
Multiple Choice
The school newspaper surveyed 100 commuter students and asked two questions. First, students were asked how many courses they were currently enrolled in. Second, the commuter students were asked to estimate how long it took them to drive to campus. Considering these two variables, number of courses would best be considered a _________ variable and drive time would be Considered a _________ variable.
Question 49
Essay
Farmers often sell fruits and vegetables at roadside stands during the summer. One such roadside stand has a daily demand for tomatoes that is approximately normally distributed with a mean of 516 tomatoes and a standard deviation of 30 tomatoes. If there are 474 tomatoes available to be sold at the roadside stand at the beginning of a day, what is the probability that they will all be sold?
Question 50
Essay
A bottle contains 16 ounces of water. The variable
x
x
x
represents the volume, in ounces, of water remaining in the bottle after the first drink is taken. What are the natural bounds for the values of
x
x
x
? Is
x
x
x
discrete or continuous? Explain.
Question 51
Essay
The tread life of a particular brand of tire is a random variable best described by a normal distribution with a mean of 60,000 miles and a standard deviation of 8200 miles. If the manufacturer guarantees the tread life of the tires for the first 50,160 miles, what proportion of the tires will need to be replaced under warranty?
Question 52
Multiple Choice
A discrete random variable x can assume five possible values: 2, 3, 5, 8, 10. Its probability distribution is shown below. Find the mean of the distribution.
x
2
3
5
8
10
p
(
x
)
0.10
0.20
0.30
0.30
0.10
\begin{array} { c | c c c c c } \mathrm { x } & 2 & 3 & 5 & 8 & 10 \\\hline \mathrm { p } ( \mathrm { x } ) & 0.10 & 0.20 & 0.30 & 0.30 & 0.10\end{array}
x
p
(
x
)
2
0.10
3
0.20
5
0.30
8
0.30
10
0.10
Question 53
Essay
The rate of return for an investment can be described by a normal distribution with mean 28% and standard deviation 3%. What is the probability that the rate of return for the investment exceeds 34%?
Question 54
Multiple Choice
The number of homeruns hit during a major league baseball game follows a Poisson distribution with a mean of 3.2. Find the probability that a randomly selected game would have exactly 5 homeruns hit.