A large chain retailer purchases the new model Samsung phone from the Samsung store. Samsung admits that 60% of its stock is defective. An inspector randomly picks 12 of the phones from a shipment. What is the probability that exactly 10 of the phones will be defective and Less than 3 phones will be defective? Please provide full calculations

A large chain retailer purchases the new model Samsung phone from the Samsung store. Samsung admits that 60% of its stock is defective. An inspector randomly picks 12 of the phones from a shipment. What is the probability that exactly 10 of the phones will be defective and Less than 3 phones will be defective? Please provide full calculations

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter17: Making Decisions With Uncertainty

Section: Chapter Questions

Problem 7MC

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You work at a mechanic shop. 40% of cars that come in have a flat tire. If there are 50 cars in the shop, what is the probability that more than 30 have a flat tire? Round to three decimal points.
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QUESTION 11 ABC Store's data of the past 500 days shows that the online daily sales of a cooking pot of a special brand was between ten and eighteen pots. If of the 500 days, there were 100 days with daily sale of 15 pots, then what is the probability that the daily sale is 15 pots? (Put your result in a decimal number. Keep 3 digits after the decimal points.)
Sharlene has just put a down payment on a lot in a small subdivision. There are 24 lots in the subdivision, and all are approximately 0.3 acres in size. Four builders have been contracted by the subdivision manager to each build six homes in order to finish the subdivision in 6 months. Sharlene's uncle is one of the builders contracted by the subdivision manager. What is the probability that Sharlene's uncle will be the builder that builds her house? Round your answer to two decimal places, if necessary.
A student takes an exam containing 20 multiple choice questions. The probability of choosing a correct answer by knowledgeable guessing is 0.3. At least 13 correct answers are required to pass. If the student makes knowledgeable guesses, what is the probability that he will fail? Round your answer to four decimal places.
5.100 Tossing a die. You are tossing a balanced die that has probability 1/6 of coming up 1 on each toss. Tosses are independent. We are interested in how long we must wait to get the first 1. (a) The probability of a 1 on the first toss is 1/6. What is the probability that the first toss is not a 1 and the second toss is a 1? (b) What is the probability that the first two tosses are not 1s and the third toss is a 1? This is the probability that the first 1 occurs on the third toss. 4 (c) Now you see the pattern. What is the probability that the first 1 occurs on the fourth toss? On the fifth toss?
a. A company produces lightbulbs whose life follows a normal distribution, with mean 1200 hours and standard deviation 250 hours. If we choose a lightbulb at random, what is the probability that its lifetime will be between 900 and 1300 hours? (answer in three decimal places)
On Monday's there are eight classes taught in the business building. The probability that any of those classes starts late is 0.3. What is the probability that at least one these classes will start late on Monday?
The promoter of a football game is concerned that it will rain. She has the option of spending $14,040 on insurance that will pay $39,000 if it rains. She estimates that the revenue from the game will be $65,040 if it does not rain and $30,040 if it does rain. What must the chance of rain be if buying the policy has the same expected return as not buying it? Write expressions showing the expected returns if the promoter does and does not purchase the insurance, using p to represent the probability of rain. Without insurance, E(return) = With insurance, E(return) = The chance of rain must be _%.
Define a random variable X which is equal to the number of heads occurring on the two coin tosses. Create a probability distribution table showing the possible values of X and the probability of getting each of those values. Explain why your probability distribution is valid (remember there are two conditions). Don't remember? See Module 6.50 introductory notes.
The probability that the next President will be a Democrat is 0.5, and the probability that the next President will be a woman is 0.3. The probability the next President will be a woman and a Democrat is 0.1. What is the probability the next President will be a Democrat or a woman?