Question 1 Explain why normalizing equation is needed in steady state probability calculations in your own words.
Q: What probability distribution can you use to predict the future price of a goods given the previous…
A: Probability distribution: They are used to describe the probabilities of a random variable. It shows…
Q: (ii) An experiment consists of drawing four cards at random from a pack of 52 playng cards, one at a…
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Q: QUESTION 13 k. Use Poisson's distribution to calculate the A life insurance salesman sells on the…
A: We have given that, X be the random variable from Poisson distribution with mean λ = 4 i.,…
Q: gnormal random variable X has a mean of 6.35 and standard deviation of 0.957. What is the probabil X…
A: Here the random variable x has mean 6.35 and standard deviation 0.957. That is,μ=6.35 and σ=0.957…
Q: ou may need to use the appropriate appendix table or technology to answer this question. The…
A: Hey, since there are multiple subparts posted, we will answer first three subparts. If you want any…
Q: Explain in your own words the relationship between the Gamma, Exponential and Chi- Square…
A: Gamma Distribution: Let X be a random variable which follows a gamma distribution. Let the shape…
Q: Which of the following is necessary for a time series, Y , to be considered non-stationary? The…
A: For a time series, Yt to be considered non-stationary:
Q: Problem 4 | The daily revenue of an online retailer has mean 20 and variance 400. (i) Find the…
A: Let X be the daily revenue of an online retailer has mean 20 and variance 400. That is, X follows…
Q: Please solve the attached question
A: The objective of the question is to find the probability that the life of the component is less than…
Q: probability that more than 60% of 34 r/s students from this university pass all their classes.
A: Here sampling distribution of the sample proportion is approximately normal as per central limit…
Q: QUESTION 3 Suppose there are two football teams A and B. In recent matches Team A has a mean of 1…
A: Given, There are two football teams A and B. Team A has a mean of 1 goal per match and Team B has a…
Q: QUESTION 10 Suppose there is a 0.371% chance that a certain age group will be in a car accident…
A: Suppose there is a 0.371% chance that a certain age group will be in a car accident requiring body…
Q: b) A company expects to sell 1000 units per month of a new product but there is uncertainty as to…
A: Number of units sells per month is 1000 units. The estimate of selling price and variable price with…
Q: step by step answer and solution please
A: To solve this problem, we need to find the cumulative distribution function (CDF) Fy(y), the…
Q: Please solve the attached question
A: The objective of the question is to find the probability that the life of the component is less than…
Q: Example 2. If an ordinary coin is spinned three times what is the probability of obtaining atleast…
A: In a fair coin, there are two possible outcomes Head and Tail PHead = 12PTail = 12
Q: ) Your current portfolio of investments has an expected rate of return ot standard deviation of 16%.…
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Q: Problem 13. Explain the main differences between a discrete probability distribution and a…
A: Given : It is asked to explain the main differences between a discrete probability distribution and…
Q: Determine whether this table represents a probability distribution. X 0 1 2 3 f(x) 0.1 0.3 0.25 0.4…
A: Conditions for the discrete probability distribution:The sum of all probability is equal to 1.Each…
Q: Explain two problems encountered when applying OLS to the linear probability model .How can these…
A: Two problems encountered when applying OLS to the linear probability model :
Q: QUESTION 5 Fill in the missing value so that the following table represents a probability…
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Q: QUESTION 13 A life insurance salesman sells on the average 6 life insurance policies per week. Use…
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Q: 1) What is the arrival rate per hour? ) What is the probability that no students will arrive at the…
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Q: Seventy percent of adults favor some kind of government control on the prices of medicines. Assume…
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Q: 5. Before the age of streaming services, there were actually stores that people would visit to rent…
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Q: What are the Different Problems Caused by Stochastic Trends?
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Q: 6. In a college, 400 students are graduating this semester. According to the school policy, each…
A: 6) Let X denotes the number of people a student will bring to the graduation ceremony. Based on the…
Q: X is a random variable with the probability function: f(X) = (4-X)/6 for X = 1, 2 or 3 The expected…
A: Answer - X has a probability function f(X) = (4-X)/6 for X = 1, 2, or 3 Find…
Q: The rate of scores in a test is 5, which follows poisson distribution. Find the probability for…
A: GivenThe rate of scores in a test is 5λ=5Let "x" be the student's scorex~Poisson(λ=5)P(X=x)=e-λ×λxx!…
Q: A survival model has a constant force of mortality of 0.05 and a constant force of interest of 0.03.…
A: To calculate the expected value of , we need to find the present value of an annuity for a life aged…
Q: Choose the correct answer for k = 0 a. 0.022 b. 0.020 c. 0.002 с. d. 0.030 Choose the correct answer…
A: As per our guidelines, we are allowed to answer first three sub-parts only. Thanks Given : The…
Q: QUESTION 2 Calls reaching a telephone exchange over the past year average 20 per minute. What is…
A: Given that Average number of calls received per minutes=20
Q: 6. Past data for new students in the College of Business at State U show 23.5% enroll as accounting…
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Q: the probability of a new employee in a fast-food chain still being with the company at the end of…
A: Formula : Binomial distribution is given by
Q: 8. Pizza Shack is conducting a review of its suppliers. It finds that 2.5% of the tomatoes it…
A: suppose,A : tomatoes Pizza shack receives come from California.A': tomatoes from…
Q: QUESTION 1 Ale insurance salesman sels on the average 3 life insurance policies per week. Use…
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Q: Determine whether this table represents a probability distribution. P(x) 0.2 1 0.25 0.2 3 0.4 O No,…
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Q: 1. (a) When a hand of 5 cards is dealt from a standard deck of 52 cards, what is the probability…
A: Probability is the chance that an event happening. It is also known as likelihood of the event…
Q: Suppose a county's recent health report gives a pet allergy prevalence of 0.16 for kids. There is a…
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Q: A uniform distribution runs between 15 and 38. Using integration calculate the expected value and…
A: From the provided information, A uniform distribution run between 15 and 38. U (a, b)
Q: Question 4: According to historic data, on average, 5 traffic accidents occur per month at…
A: Question 4 : answer is (b) Poisson, discrete
Q: Practice Question 3: Suppose the time to do a health check (X) is exponentially distributed with an…
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Q: 4. Let the pdf of a continuous random variable X be defined as (x+3)/6 if-3≤x<0 if 0≤x≤1 otherwise…
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- Question 6 Consider a queueing system where the customers' time between arrivals is exponentially distributed with an average rate of 2.1 customers per hour. The service time distribution is not known but the average is 7.8 customers per hour. If the standard deviation of the service time is 0.8 hours, what is the expected number of clients in the system? Add your answerQuestion 18Question 10 and 11 please
- Question 5 Please solve the problem with simple probability rules (no Excel)Question 11 > P(x) 0.05 1 0.05 0.3 3 0.6 Find the mean of this probability distribution. Round your answer to one decimal place. Add Work Submit QuestionQuestion 2 The rate of scores in a test is 8, which follows poisson distribution. Find the probability for fewer than 3 student's scores?
- Question 4 Part B What are the conditions that must be satisfied to apply the Poisson probability distribution? An average of 0.8 accident occurs per day in a large city. Using the Poisson formula, find the probability that nom accident will occur in this city on a given day Find the mean, variance and standard deviation of the probability distribution.QUESTION 3 Suppose there are two football teams A and B. In recent matches Team A has a mean of 1 goal per match and Team B has a mean of 2 goals per match. Suppose that the probability of the number of goals scored by a team obeys a Poisson Distribution In the following questions, give the reasoning behind your answers. You can express some answers in terms of logarithms. Q 3(a) What is the probability that A beats B by 1 goal? You can give your answer to 2 decimal places. Q 3(b) If the two teams play each other repeatedly, what is the probability of there being at least 5 matches before A beats B by 1 goal? Q 3(c) In a particular match what is the probability of two goals within the first 20 minutes? Q 3(d) What is the second most probable score line? Q 3(e) In a particular match, over how long a time period would the probability of exactly one goal be 20%?Question 9 Please use simple probability rules
- Question 18 The price of a stock is uniformly distributed between $33 and $42. Determine the expected value for the stock price. Please keep two decimal places and fill in blank below.3. Your roommate thinks that, because you're an ECE major, it's your job to change light bulbs. You buy a bulb. Its average lifetime is rated for 10 years. Model the actual lifetime L as an exponential random variable. (a) What is the probability that it will last longer than 5 years, i.e. P(L 2 5)? (b) After 2 years, it still hasn't burned out. Given that, what is the probability that it will last 5 years beyond that, i.e. P(L 2 2+5|L 2 2)? Compare your answers in (a) and (b) and explain why they support (c). callıng the exponential R.V. "memoryless".Problem 1) From previously published studies, the probability that a pine snake hatched in a zoo will survive to maturity is 72%. If five pine snakes are hatched, what is the predicted probability distribution for the number of pine snakes that will survive to maturity? (Find Prob(X=k) for k = 0, 1, 2, 3, 4, and 5.) Carry three decimal places in your calculations. 1. Choose the correct answer for k = 0 а. 0.022 b. 0.020 с. 0.002 d. 0.030 2. Choose the correct answer for k= 1 а. 0.022 b. 0.020 с. 0.002 d. 0.030
