A probability distribution is the mathematical function that gives the probabilities of occurrence of different possible outcomes for an experiment.
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Identify if its true or false
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- Suppose the casino decides to adjust the payout levels by subtracting $1.00 from each prize. Find the mean and the variance of the outcomeJust answer as many problem you desireSolve for mean, variance and standard deviation. A company is deciding where to place a restaurant that they are planning to build. They can build it on a center of a business district so they can charge higher but needs to compete with more restaurants nearby. They can also build it in front of a school where they have to charge less but they have less to compete with. The company analysed how those considerations will affect earning and they have presented their finding using a probability distribution.
- 4. Discrete probability distributions #1 You may calculate the answers of the following questions using the appropriate probability distribution function from the equations in your textbook. (You will need to read the questions first to determine the appropriate distribution.) However, you may also determine these answers by using the Distributions tool. Select the appropriate distribution from the dropdown box in the upper left-hand corner. Set the parameters accordingly, and select the radio button in the lower left-hand corner depending on whether you want the probability of a single outcome (left) or a cumulative probability (right). Who's so vain? A survey conducted by the American Association of Motor Vehicle Administrators (AAMVA) and Stefan Lonce, author of LCNS2ROM- License to Roam: Vanity License Plates and the Stories They Tell, reveals that Virginia motor vehicle owners are the vainest. Approximately 16% of Virginia license plates are vanity plates. Select a Distribution…What is the significance of the mean of a probability distribution? Choose the correct answer below. O A. It represents the most likely possible outcome. B. It is the expected value of a discrete random variable. OC. It can never be negative. OD. It gives information about how the outcomes vary.In the binomial distribution the important point is that the two a. Events and expected b. Events are complementary C. All Above d. outcomes are complementary
- Polling As mentioned in the chapter, opinion-polling organizations contact their respondents by sampling ran-dom telephone numbers. Although interviewers now can reach about 62% of U.S. households, the percentage ofthose contacted who agree to cooperate with the surveyhas fallen from 43% in 1997 to only 14% in 2012 (PewResearch Center for the People and the Press). Eachhousehold, of course, is independent of the others.a) What is the probability that the next householdon the list will be contacted but will refuse tocooperate? b) What was the probability (in 2012) of failing to con-tact a household or of contacting the household but not getting them to agree to the interview?c) Show another way to calculate the probability inpart b.1.Which probability distribution would you use to calculate the probability of success or failure of Advanced Researcher's vaccine if it were to be administered to people in society?Page > of 21 3. GOING TO THE DOCTOR. The General Social Survey reported that 56% of American adults saw a doctor for an illness during the past year. A sample of 65 adults is drawn. Is it appropriate to use the normal distribution to find probabilities for p? b. What is the probability that more than 40 of them saw a doctor? Would it be unusual if more than 70% of them saw a doctor? a. c.
- Company F sells fabrics known as fat quarters, which are rectangles of fabric created by cutting a yard of fabric into four pieces. Occasionally the manufacturing process results in a fabric defect. Let the random variable X represent the number of defects on a fat quarter created by Company F. The following table shows the probability distribution of X. X 0 1 2 3 4 or more Probability 0.58 0.23 0.11 0.05 0.03 If a fat quarter has more than 2 defects, it cannot be sold and is discarded. Let the random variable Y represent the number of defects on a fat quarter that can be sold by Company F. (a) Construct the probability distribution of the random variable Y. (b) Determine the mean and standard deviation of Y. Show your work. Company G also sells fat quarters. The mean and standard deviation of the number of defects on a fat quarter that can be sold by Company G are 0.40 and 0.66, respectively. The fat quarters sell for $5.00 each, but are discounted by…In statistics test, students finish the test in between 80 minutes, at earliest, and 120 minutes, at latest. What is the probability that the next student will finish the test between 85 and 95 minutes. Assume a uniform distribution..I NEED QUESTION "D' ANSWERED. The budgeting process for a midwestern college resulted in expense forecasts for the coming year (in $ millions) of $9, $10, $11, $12, and $13. Because the actual expenses are unknown, the following respective probabilities are assigned: 0.3, 0.2, 0.25, 0.05, and 0.2. (a) Show the probability distribution for the expense forecast. x f(x) 9 10 11 12 13 (b) What is the expected value (in $ millions) of the expense forecast for the coming year? $____________million (c) What is the variance of the expense forecast for the coming year? (d) If income projections for the year are estimated at $12 million, comment on the financial position of the college. With this estimate, the college can expect a profit (in $ million) of $_______________ million. From the assigned probability, there is chance that expenses will equal $13 million causing the college to run a deficit profit .
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