Preview

Quantitative Methods

Satisfactory Essays
Open Document
Open Document
258 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Quantitative Methods
A silver dollar is flipped twice. Calculate the probability of each of the following occurring:
(a) a head on the first flip
(b) a tail on the second flip given that the first toss was a head
(c) two tails
(d) a tail on the first and a head on the second
(e) a tail on the first and a head on the second or a head on the first and a tail on the second
(f) at least one head on the two flips

Susan Williams has been the production manager of Medical Suppliers, Inc., for the past 17 years.
Medical Suppliers, Inc., is a producer of bandages and arm slings. During the past 5 years, the demand for No-Stick bandages has been fairly constant. On the average, sales have been about 87,000 packages of No-Stick. Susan has reason to believe that the distribution of No-Stick follows a normal curve, with a standard deviation of 4,000 packages.
What is the probability that sales will be less than
81,000 packages?

Susan Williams has been the production manager of Medical Suppliers, Inc., for the past 17 years. Medical Suppliers, Inc., is a producer of bandages and arm slings. During the past 5 years, the demand for No-Stick bandages has been fairly constant. On the average, sales have been about 87,000 packages of No-Stick. Susan has reason to believe that the distribution of No-Stick follows a normal curve, with a standard deviation of 4,000 packages. What is the probability that sales will be less than 81,000 packages? ---------- z(81000) = (81000-87000)/4000 = -6/4

---- P(x < 81000) = P(z < -3/2) = normalcdf(-100,-3/2) = 0.0668

You May Also Find These Documents Helpful

  • Satisfactory Essays

    (a) Suppose we take a random sample of size 100 from a discrete distribution in this manner: A green die and a red die are thrown simultaneously 100 times and let Xi denote the sum of the spots on the two dice on the ith throw, i = 1, 2,...100. Find the probability that the sample mean number of spots on the two dice is less than 7.5.…

    • 558 Words
    • 3 Pages
    Satisfactory Essays
  • Good Essays

    At a computer manufacturing company, the actual size of computer chips is normally distributed with a mean of 1 centimeter and a standard deviation of 0.1 centimeter. A random sample of 12 computer chips is taken. What is the probability that the sample mean will be between 0.99 and 1.01 centimeters?…

    • 1734 Words
    • 7 Pages
    Good Essays
  • Good Essays

    What is the probability that these 64 students will spend a combined total of more than $715.21?…

    • 641 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    X Chart and P Chart

    • 278 Words
    • 2 Pages

    1: The mean time to clean a motel room is 15.0 min and the standard deviation is 1.6 min and the…

    • 278 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    the executive level at a large plant. The clerical staff is almost entirely female, while…

    • 400 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    How you would use the concept of probabilities to apply to profiles for hiring more satisfied individuals and…

    • 1009 Words
    • 5 Pages
    Good Essays
  • Satisfactory Essays

    Quantitative Methods

    • 298 Words
    • 2 Pages

    In order for the Electrotech Corporation to maximize their profit they will have to produce 130 Generators 0 alternators for a maximum profit of 32,500. Any deviation from this will lower the company’s…

    • 298 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Quantitative Research

    • 1088 Words
    • 4 Pages

    The disparities in the U.S. court system regarding paternity of low-income individuals has extreme effects on whether children would ever know their fathers, but they also lead to men being involuntarily held financially or legally responsible for children they did not biologically father; a burden that has disproportionate negative effects on a man with low-income. Dr. Vincent Miller contends "Nearly 30% of the tested paternity cases in our laboratory result in an exclusion of the "alleged father" presented as the biological father." (2010). The mere allegation of a man’s paternity, results in the U.S. court system entering financially, as well as…

    • 1088 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Methods of Analysis

    • 728 Words
    • 3 Pages

    In a base year the absolute dollar amount of financial statements of consecutive years is changed to a percentage of the base year dollar amount or trends of percentages. Absolute amounts of a horizontal analysis is a comparison of dollar amounts of operating expenses and other items over a period of time, quarterly or annually. This is a very important method when determining whether a company is spending to much or to little on needed items and if an opposing company has influences on a business such as increasing or reducing on cost of materials. “Percentage analysis involves computing the percentage relationship between two amounts “ (Edmonds), quarterly or annually, another way of horizontal analysis. In percentage analysis the absolute dollar amount is changed to percentage, 2008 that…

    • 728 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Qualitative method is one of three methods of conducting research. According to Creswell (2009). Creswell (2009) additionally shares collecting data to analyze and interpret behavior is significantly different from quantitative method due to purposeful sampling. In this process open-ended data is observed unlike the traditional process in quantitative method. Qualitative method is more of hands on inquiry going directly to the scene of where the problem occurs. Speaking directly to the participants is required in the qualitative process. Creswell (2009) states that the process of qualitative research is put together from the bottom up when organizing back and forth resources using different databases that ignite ideas to themes.…

    • 523 Words
    • 3 Pages
    Good Essays
  • Better Essays

    This paper analyzes a quantitative research report selected because it focuses on enhancing patient education by attention to patient perceptions of the nurse educator. “Quantitative research is the formal, objective, systematic process used to describe variables, test relationships between them, and examine cause and effect interactions among variables” (Burns & Grove, 2007, p. 530). The report being analyzed is titled, “Nurses’ Body Size and Public Confidence in Ability to Provide Health Education” (Hicks, Rouhana, Schmidt, Seymour, & Sullivan, 2008). It replicates a 2006 original study by Wells, Lever, and Austin, listed among its references.…

    • 1843 Words
    • 8 Pages
    Better Essays
  • Satisfactory Essays

    Quantitative Research

    • 294 Words
    • 1 Page

    1. Research problem and Purpose is the area where research is needed to close the gap between knowledge and nursing practice. Purpose identifies the specific goal of the study (Burns & Grove 2011).…

    • 294 Words
    • 1 Page
    Satisfactory Essays
  • Good Essays

    Quantitative Analysis

    • 2036 Words
    • 9 Pages

    – which was added to make the question more realistic for an actual business situation. Ideal Answer: µ = 8000; S = 2,500; Alpha = 0.05…

    • 2036 Words
    • 9 Pages
    Good Essays
  • Good Essays

    Statistical Analysis

    • 391 Words
    • 2 Pages

    This essay provides an analysis of the variables, statistical tests and methods used in the assigned research paper. The level of significance and the strengths and limitations of the data collection process were also reviewed.…

    • 391 Words
    • 2 Pages
    Good Essays
  • Powerful Essays

    Quantitative Research

    • 1726 Words
    • 7 Pages

    Vanderstoep, S. and Johnston, D. (2009). Research Methods for Everybody life: Blending Qualitative and Quantitative Approaches: San Francisco: A Wiley Imprint…

    • 1726 Words
    • 7 Pages
    Powerful Essays