14. If x has the probability distribution f(x) = 12x for x = 1‚2‚3‚…‚ show that E(2X) does not exist. This is famous Petersburg paradox‚ according to which a player’s expectation is infinite (does not exist) if he is to receive 2x dollars when‚ in a series of flips of a balanced coin‚ the first head appears on the xth flip. 17. The manager of a bakery knows that the number of chocolate cakes he can sell on any given day is a random variable having the probability distribution f(x) = 16 for x =
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Probability Distribution Memo To: Howard Gray‚ CEO; Jean Dubois‚ VP Mechanical Watch Division; Uma Gardner‚ VP Production; Amanda Hamilton‚ VP Marketing After identifying the business problem of falling sales and an increase in rejections by the Swiss Official Chronometer Control‚ conducting a study for research will prove to identify a solution. Researchers performed a study of a sample population of 500 people. The study reveals 60% of the watches purchased are certified and the average
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new Household appliance to potential customers. She has found from her years of experience that after demonstration‚ the probability of purchase (long run average) is 0.30. To perform satisfactory on the job‚ the salesperson needs at least four orders this week. If she performs 15 demonstrations this week‚ what is the probability of her being satisfactory? What is the probability of between 4 and 8 (inclusive) orders? Solution p=0.30 q=0.70 n=15 k=4 [pic] Using Megastat we get
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positions are filled at random form the 11 finalists‚ what is the probability of selecting: A: 3 females and 2 males? B: 4 females and 1 male? C: 5 females? D: At least 4 females? Problem 2 By examining the past driving records of drivers in a certain city‚ an insurance company has determined the following (empirical) probabilities: [pic] If a driver in this city is selected at random‚ what is the probability that: A: He or she drives less than 10‚000 miles per year or has
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A FICO score is the credit score mathematically developed by the company FICO. It shows potential lenders the risk that they are taking lending to you. The score is on a range starting at 300 and ending at 850; the higher your credit score‚ the probability that you will be lent to‚ increases. The score itself is determined from credit reports that disclose the individual’s history of financial activity. Their gender‚ race‚ religion‚ nor age play a role. From most influential to least‚ it is composed
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Running Head: DEMENTIA: HOW AND WHOM DOES IT AFFECT? 1 Dementia: How and Whom Does it Affect? Liberty University COUNS 502 B-23LUO Instructor: Dr. Richard Pace Shelly M. Becker March 5‚ 2013 DEMENTIA: HOW AND WHOM DOES IT AFFECT? 2 Abstract Although dementia is often viewed as an “old person’s disorder‚ its effects ripple down in many directions such as family‚ caregivers‚ finances‚ and the healthcare system
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Probability Distribution Essay Example Suppose you flip a coin two times. This simple statistical experiment can have four possible outcomes: HH‚ HT‚ TH‚ and TT. Now‚ let the random variable X represent the number of Heads that result from this experiment. The random variable X can only take on the values 0‚ 1‚ or 2‚ so it is a discrete random variable Binomial Probability Function: it is a discrete distribution. The distribution is done when the results are not ranged along a wide range‚ but are
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Abstract The study sought to develop an understanding of identities related to eating patterns between eating at home and school. The study showed different cases to see if religion had an impact on if individuals eat differently at home than in school. The main source of information used in this study was gathered on the campus of Northeastern Illinois University in 2005. Ninety one students were asked questions pertaining to their nationality‚ religion‚ ethnicity‚ work‚ family generation /
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results from 100 strands are as follows: High conductivity Low conductivity Strength High Low 74 8 15 3 (a) If a strand is randomly selected‚ what is the probability that its conductivity is high and its strength is high? P (High conductivity and high strength)= 74/100 =0.74 (b) If a strand is randomly selected‚ what is the probability that its conductivity is low or its strength is low? P (Low strength or low conductivity) = P(Low conductivity) + P(Low strength) – P(Low conductivity and low
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Statistics Chapter 5 Some Important Discrete Probability Distributions 5-1 Chapter Goals After completing this chapter‚ you should be able to: Interpret the mean and standard deviation for a discrete probability distribution Explain covariance and its application in finance Use the binomial probability distribution to find probabilities Describe when to apply the binomial distribution Use Poisson discrete probability distributions to find probabilities 5-2 Definitions Random Variables A
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