Qnt-561 3.88/5.56

Problem 3.88
Refer to the Baseball 2005 data, which reports information on the 30 major league teams for the 2005 baseball season.
a. Select the variable team salary and find the mean, median, and the standard deviation.
b. Select the variable that refers to the age the stadium was built. (Hint: Subtract the year in which the stadium was built from the current year to find the stadium age and work with that variable.) Find the mean, median, and the standard deviation.
c. Select the variable that refers to the seating capacity of the stadium. Find the mean, median, and the standard deviation.

Solution
The calculations for this problem appear in the attached Excel file “QNT-561 Week #6 Problem Set.xls”. The values found were:

a. For the Team Salaries:
Mean 73063563.27
Median 66191416.50
Standard Deviation 34233970.30

b. For the Stadium Age:
Mean 28.20
Median 17.50
Standard Deviation 25.94

c. For the Seating Capacity:
Mean 45912.60
Median 44174.00
Standard Deviation 5894.20

Problem 5.56
Assume the likelihood that any flight on Northwest Airlines arrives within 15 minutes of the scheduled time is .90. We select four flights from yesterday for study.
a. What is the likelihood all four of the selected flights arrived within 15 minutes of the scheduled time?
b. What is the likelihood that none of the selected flights arrived within 15 minutes of the scheduled time?
c. What is the likelihood at least one of the selected flights did not arrive within 15 minutes of the scheduled time?

Solution
a. Since the flights are independent, the probability of 4 of them arriving within 15 of the scheduled time is:

So, the probability of this event is 0.6561

b. The probability that none of the flights arrives within 15 minutes of the scheduled time is:

So, the probability of this event is 0.0001

c. The probability that at least one of the flights didn’t arrive within 15 minutes of the scheduled time, is give