2. A firm of stockbrokers will on average handle 2,500 shares a day with a standarddeviation of 250 shares. If the number of shares sold is normally distributed, find theanswers to the following questions:(a) What is the probability that more than 2,700 shares will be sold in one day?(b) What is the probability that less than 1,900 shares are sold on any one day?(c) What is the probability that the stockbrokers will sell between 2,300 and 2,550shares a day?(d) What is the probability that they will sell either more than 3,125 or less than 2,000shares in a day?

The number of shares handled by the stockbrokers daily has a Normal distribution. The mean is 2500…

Answered: 2. A firm of stockbrokers will on…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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3. A student's chances of being accepted to Harvard are about 5%. What is the probability that only three students from the same school will be accepted if twenty apply? Calculate the expected number of accepted students if there were ten applicants from the same school. Also, find the standard deviation of the number of accepted applicants.
Suppose the salaries of a company that pays to its employees are normally distributed with an average salary of 150 USD and a standard deviation of 10 USD. If an employee is selected at random. What is the probability that the employee's salary is between 135 and 165 USD?
The state of California has a mean annual rainfall of 22 inches, whereas the state of New York has a mean annual rainfall of 42 inches. Assume that the standard deviation for both states is 4 inches. A sample of 31 years of rainfall for California and a sample of 49 years of rainfall for New York has been taken. (a) Show the probability distribution of the sample mean annual rainfall for California. -2.1-14-0.7 0 0.7 1.4 2.1 199 200 21.3 22 22.7 234 24.1 inches inches ^^ inches 39.9 40.6 41.3 42 42.7 434 44.1 @0 10 14 18 22 26 (b) What is the probability that the sample mean is within 1 inch of the population mean for California? (Round your answer to four decimal places.) (c) What is the probability that the sample mean is within 1 inch of the population mean for New York? (Round your answer to four decimal places) (a) In which case, part (b) or part (c), is the probability of obtaining a sample mean within 1 inch of the population mean greater? Why? 30 34 inches
Area to the Right of the Critical Value Degrees of Freedom 0.995 0.99 0.975 0.95 0.90 0.10 0.05 0.025 0.01 0.005 1 - - 0.001 0.004 0.016 2.706 3.841 5.024 6.635 7.879 2 0.010 0.020 0.051 0.103 0.211 4.605 5.991 7.378 9.210 10.597 3 0.072 0.115 0.216 0.352 0.584 6.251 7.815 9.348 11.345 12.838 4 0.207 0.297 0.484 0.711 1.064 7.779 9.488 11.143 13.277 14.860 5 0.412 0.554 0.831 1.145 1.610 9.236 11.071 12.833 15.086 16.750 6 0.676 0.872 1.237 1.635 2.204 10.645 12.592 14.449 16.812 18.548 7 0.989 1.239 1.690 2.167 2.833 12.017 14.067 16.013 18.475 20.278 8 1.344 1.646 2.180 2.733 3.490 13.362 15.507 17.535 20.090 21.955 9 1.735 2.088 2.700 3.325 4.168 14.684 16.919 19.023 21.666 23.589 10 2.156 2.558 3.247 3.940 4.865 15.987 18.307…
A young investment manager tells his client that the probability of making a positive return with his suggested portfolio is 84%. If it is known that returns are normally distributed with a mean of 4.1%, what is the risk, measured by standard deviation, that this investment manager assumes in his calculation?
A professor knows that her statistics students' final exam scores have a mean of 79 and a standard deviation of 12.4. In his class, an "A" is any exam score of 90 or higher. This quarter she has 25 students in her class. What is the probability that 7 students or more will score an "A" on the final exam?
1.a.The amount of money spent weekly on cleaning, maintenance, and repairs at a large restaurant was observed over a long period of time to be approximately normally distributed, with mean ? = $633 and standard deviation ? = $46. If $646 is budgeted for next week, what is the probability that the actual costs will exceed the budgeted amount? (Round your answer to four decimal places.) b.A relay microchip in a telecommunications satellite has a life expectancy that follows a normal distribution with a mean of 90 months and a standard deviation of 3.2 months. When this computer-relay microchip malfunctions, the entire satellite is useless. A large London insurance company is going to insure the satellite for 50 million dollars. Assume that the only part of the satellite in question is the microchip. All other components will work indefinitely. If the satellite is insured for 84 months, what is the probability that it will malfunction before the insurance coverage ends? (Round your answer…
2.Suppose that 60% of middle school students in San Diego wear braces. A random sample of 250 San Diego middle school students is selected. a.What is the mean and standard deviation of the 250 samples students that will have braces? b.What is the probability that at most 190 students in the sample wear braces?
Ma1.
Two gamblers bet $1 each on the successive tosses of a coin: i.e., at each coin toss, player 1 pays $1 to player 2 if the coin shows ‘Heads’, and player 2 pays $1 to player 1 if the coin shows ‘Tails’. What is the mean and the standard deviation of the total winnings (measured in $, winnings can be negative) of player 1 after 6 tosses?
The NJ Department of Health has reported the average life span of NJ residents is 81 years. If the standard deviation is σ = 4 years, what is the probability of a person living to at least 92 years of age?

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