1 Which distribution? Each of the following random variables has a named distribution we studied in class. Give the name of the distribution, and the values of its parameters. A standard economic model of consumption of household goods assumes that products are consumed at a constant average rate, but with random and independent times between usage. To model inter-purchase times, we also take into account the amount purchased at once. For concreteness, suppose that a customer with a cold purchases a box of 120 tissues, and uses an average of 2 tissues every hour. T is the time (in minutes) until the entire box of tissues is used up, and another box must be purchased. A busy office receives an average of 100 calls per hour. C is the number of calls received over a particular 5-minute interval. One possible betting strategy in roulette is to take all your money and bet it on red; you have a chance of winning such a bet. If you win, then you bet all the money you have again, and so on, until you lose. This is not a very good strategy. B is the number of bets you make before you lose all your money.
1 Which distribution? Each of the following random variables has a named distribution we studied in class. Give the name of the distribution, and the values of its parameters. A standard economic model of consumption of household goods assumes that products are consumed at a constant average rate, but with random and independent times between usage. To model inter-purchase times, we also take into account the amount purchased at once. For concreteness, suppose that a customer with a cold purchases a box of 120 tissues, and uses an average of 2 tissues every hour. T is the time (in minutes) until the entire box of tissues is used up, and another box must be purchased. A busy office receives an average of 100 calls per hour. C is the number of calls received over a particular 5-minute interval. One possible betting strategy in roulette is to take all your money and bet it on red; you have a chance of winning such a bet. If you win, then you bet all the money you have again, and so on, until you lose. This is not a very good strategy. B is the number of bets you make before you lose all your money.
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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Transcribed Image Text:1 Which distribution?
Each of the following random variables has a named distribution we studied in class. Give the nam
of the distribution, and the values of its parameters.
A standard economic model of consumption of household goods assumes that products
are consumed at a constant average rate, but with random and independent times between usage.
To model inter-purchase times, we also take into account the amount purchased at once.
For concreteness, suppose that a customer with a cold purchases a box of 120 tissues, and uses an
average of 2 tissues every hour. T is the time (in minutes) until the entire box of tissues is used
up, and another box must be purchased.
A busy office receives an average of 100 calls per hour. C is the number of calls received
over a particular 5-minute interval.
One possible betting strategy in roulette is to take all your money and bet it on red;
you have a chance of winning such a bet. If you win, then you bet all the money you have again,
and so on, until you lose. This is not a very good strategy.
B is the number of bets you make before you lose all your money.
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