8Four-week summer rainfall totals, in inches, in a section of the Midwestern United States have approximately a gamma distribution with a = 1.3 and ß = 3.(a) Find the mean, in inches, and variance of the four-week rainfall totals.E(X) =inV(X) =(b) What is the probability that the four-week rainfall total exceeds 4 inches? (Round your answer to four decimal places.)

The Gamma distribution , α = 1.3 β = 3 Mean = ? Variance = ? P(X>4) = ?

Answered: 8 Four-week summer rainfall totals, in…

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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Empirical research on stock market data for two consecutive trading days indicates that 60% of the stocks that went up on the first day also went up on the second day. Yesterday, 600 stocks went up. Answer the following. (If necessary, consult a list of formulas.) (a) Find the mean of p, where p gives the proportion of the 600 stocks that went up yesterday that will go up today. (b) Find the standard deviation of p. (c) Compute an approximation for P(p > 0.56), which is the probability that more than 56% of the stocks that went up yesterday will go up again today. Round your answer to four decimal places.
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Empirical research on stock market data for two consecutive trading days indicates that 40% of the stocks that went up on the first day also went up on the second day. Yesterday, 600 stocks went up. Answer the following. (If necessary, consult a list of formulas.) (a) Find the mean of p, where p gives the proportion of the 600 stocks that went up yesterday that will go up today. (b) Find the standard deviation of p. (c) Compute an approximation for P(p<0.36), which is the probability that fewer than 36% of the stocks that went up yesterday will go up again today. Round your answer to four decimal places.
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