In the following problem, check that it is appropriate to use the normal approximation to the binomial. Then use the normal distribution to estimate therequested probabilities.It is known that 75% of all new products introduced in grocery stores fail (are taken off the market) within 2 years. If a grocery store chain introduces 63 newproducts, find the following probabilities. (Round your answers to four decimal places.)LAUSE SALT(a) within 2 years 47 or more fail06141 X(b) within 2 years 58 or fewer fail(c) within 2 years 15 or more succeed04129x(d) within 2 years fewer than 10 succeed

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Answered: In the following problem, check that it…

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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The following graph plots the fitted probabilities of default (y axis) depending on the credit balance (x axis) with the linear probability model (left) and the logistic model (right). Which alternative is NOT correct 500 1000 1500 2000 2500 500 1000 1500 2000 2500 Balance Balance O a. There will always be a balance level such that the probability of default according to the linear probability model is above 100% O b. The logit model supposes that the error term of the latent variable follows a logistic distribution O C. The linear probability model estimates probabilities of default below 0% Od. The probability of default lower than 50% is a frequent feature of linear probability models e. The logistic model estimates probabilities between 0% and 100% 00 80 90 YO 0 Probability of Default R'O 90 o zo o'o Probability of Default
Please use excel formulas when possible: You have a device that uses a single battery, and you operate this device continuously, never turning it off. Whenever a battery fails, you replace it with a brand new one immediately. Suppose the lifetime of a typical batteryhas an exponential distribution with mean 205 minutes. Suppose you operate the device continuously for three days, making battery changes when necessary. Find the probability that you will observe at least 25 failures. (Hint: The number of failures is Poisson distributed.) In the previous problem, we ran the experiment for a certain number of days and then asked about the number of failures. In this problem, we take a different point of view. Suppose you operate the device, starting with a new battery, until you have observed 25 battery failures. What is the probability that at least 15 of these 25 batteries lived at least 3.5 hours? (Hint: Each lifetime is exponentially distributed
A microprocessor that controls the tuner in color TVs fails completely at random (that is, according to the exponential distribution). Suppose that the likelihood that a microprocessor that has survived for k years fails in year k + 1 is .0036. What is the cumulative distribution function of the time until failure of the microprocessor?
When a bus service reduces fares, a particular trip from New York City to Albany, New York, is very popular. A small bus can carry four passengers. The time between calls for tickets is exponentially distributed with a mean of 20 minutes. Assume that each caller orders one ticket. What is the probability that the bus is filled in less than 3 hours from the time of the fare reduction? Round your answer to 4 decimal places. i
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The useful life of Johnson rods for use in a particular vehicle follows an exponential distribution with an average useful life of 5.2 years.You have a three-year warranty on your vehicle’s Johnson rod. What is the probability that the Johnson rod doesn’t fail before then? That is, what is the probability that its useful life doesn’t end before three years?b.If the vehicle manufacturer wants to limit the number of claims on the three-year warranty to 20%, what should the average useful life of the Johnson rod be?
The time between failures of our video streaming service follows an exponential distribution with a mean of 40 days. Our servers have been running for 17 days, What is the probability that they will run for at least 97 days? (clarification: run for at least another 80 days given that they have been running 17 days). Report your answer to 3 decimal places.
In the following problem, check that it is appropriate to use the normal approximation to the binomial. Then use the normal distribution to estimate the requested probabilities. It is known that 77% of all new products introduced in grocery stores fail (are taken off the market) within 2 years. If a grocery store chain introduces 64 new products, find the following probabilities. (Round your answers to four decimal places.) n USE SALT (a) within 2 years 47 or more fail 0.8968 (b) within 2 years 58 or fewer fail 0.9877 (c) within 2 years 15 or more succeed 0.5788 (d) within 2 years fewer than 10 succeed 0.0483 Need Help? Read It
Benford's Law claims that numbers chosen from very large data files tend to have "1" as the first nonzero digit disproportionately often. In fact, research has shown that if you randomly draw a number from a very large data file, the probability of getting a number with "1" as the leading digit is about 0.301. Suppose you are an auditor for a very large corporation. The revenue report involves millions of numbers in a large computer file. Let us say you took a random sample of n = 250 numerical entries from the file and r = 60 of the entries had a first nonzero digit of 1. Let p represent the population proportion of all numbers in the corporate file that have a first nonzero digit of 1. Test the claim that p is less than 0.301 by using α = 0.01. What does the area of the sampling distribution corresponding to your P-value look like? a. The area in the right tail of the standard normal curve. b. The area not including the right tail of the standard normal curve.…
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The figure below shows the binomial distribution for 10 trials and probability of 0.5. (This is the coin flip model.) Compute Pr(X=5). Round to four places.

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