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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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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Suppose that the life-time of a certain printer follows an exponential distribution with mean 2 years. The manufacture of this printer offers 100% refund if the printer fails during the first year and 50% if it fails during the second year and none afterward. a. Evaluate the probability of full refund. A. 0.05 B. 0.24 C. 0.39 D. 0.47 E. 0.52 b. Assume that each printer costs $100.00. Determine the expected refund for each sold printer. A. 46 B. 51 C. 54 D. 61 E. 66
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
Tom the cat patrols the house in search of the mouse Jerry, who wants to get into the kitchen for something to eat. After leaving the kitchen, Tom will return after a random amount of time, which follows an exponential distribution with mean 15 seconds. Suppose Jerry needs 12 seconds to get across the house, and starts immediately after Tom leaves the kitchen. What is the probability that Jerry the mouse will get caught? Next 1 Previous
A professor knows that her statistics students' final exam scores have a mean of 80 and a standard deviation of 12.2. In her 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?Hint: You will need to use your knowledge of normal probability distributions to determine the probability of one individual getting an A and then use your knowledge of binomial distributions to determine the probability of 7 students or more out of 25 students getting an A.prob = ____________Report your final answer accurate to 4 decimal places. Do not round any of the numbers in this calculation until the very end of the problem!
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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If X is exponentially distributed, prove that the probability that X exceed its expected value is less than 0.5
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Once checked in at the ticket kiosk, the amount of time it takes a airline passenger at the Calgary International Airport to clear security is a random variable that can be modeled by the Exponential distribution with a µ = = 44.5 minutes. A statistician randomly selects n = 42 airline passengers and records how long, in minutes, it takes each to clear security once each has checked in at the ticket kiosk. (a) Complete the statement below. Enter your answer using all the decimals you can. The distribution of X ? minutes. minutes and a standard deviation σχ = with a mean x = (b) What is the probability that the average time for this sample of n = 42 airline passengers to clear security is between 30 minutes and 61 minutes? Enter your answer using all the decimals you can. = :42 airline passengers to clear security after ticket kiosk check-in is at most how many minutes? (c) 99% of the time, the mean time it takes n Enter your answer using all the decimals you can. minutes

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