6:17 AM13Lets Check 1 (2).pdf©UMCollege of Arts and Sciences EducationGeneral Education - Mathematics2nd Floor, DPT Building, Matina Campus, Davao CityPhone No.: (082)300-5456/305-0647 Local 134The University of MindanaoLet's CheckSolve each of the following problems completely. Show all your solutions.1. R. H. Bruskin Associates Market Research found that 40% of Americans do not thinkthat having a college education is important to succeed in the business world. If arandom sample of five Americans is selected, find these probabilities.a. Exactly 2 people will agree with that statement.b. At most 3 people will agree with that statement.c. At least 2 people will agree with that statement.d. Fewer than 3 people will agree with that statement.2. Twenty-six percent of couples who plan to marry this year are planning destinationweddings. In a random sample of 12 couples who plan to marry, find the probabilitythata. Exactly 6 couples will have a destination weddingb. At least 6 couples will have a destination weddingc. Fewer than 5 couples will have a destination wedding3. A student takes a 20-question, true/false exam and guesses on each question. Find theprobability of passing if the lowest passing grade is 15 correct out of 20. Would youconsider this event likely to occur? Explain your answer.4. Eighty-five percent of Americans favor spending government money to developalternative sources of fuel for automobiles. For a random sample of 120 Americans,find the mean, variance, and standard deviation for the number who favor governmentspending for alternative fuels.5. Thirty-two percent of adult Internet users have purchased products or services online.For a random sample of 200 adult Internet users, find the mean, variance, and standarddeviation for the number who have purchased goods or services online.

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A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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Many investors and financial analysts believe the Dow Jones Industrial Average (DJIA) gives a good barometer of the overall stock market. On January 31, 2006, 9 of the 30 stocks making up the DJIA increased in price (The Wall Street Journal, February 1, 2006). On the basis of this fact, a financial analyst claims we can assume that 30% of the stocks traded on the New York Stock Exchange (NYSE) went up the same day.A sample of 80 stocks traded on the NYSE that day showed that 11 went up.You are conducting a study to see if the proportion of stocks that went up is is significantly less than 0.3. You use a significance level of α=0.02α=0.02.What is the test statistic for this sample? (Report answer accurate to three decimal places.)test statistic = What is the p-value for this sample? (Report answer accurate to four decimal places.)p-value = The p-value is... less than (or equal to) αα greater than αα This test statistic leads to a decision to... reject the null accept the null fail…
Bob, the proprietor of Midway Lumber, bases his projections for the annual revenues of the company on the performance of the housing market. He rates the performance of the market as very strong, strong, normal, weak, or very weak. For the next year, Bob estimates that the probabilities for these outcomes are 0.15, 0.25, 0.39, 0.09, and 0.12, respectively. He also thinks that the revenues corresponding to these outcomes are $23, $18.6, $16.9, $14, and $6 million, respectively. What is Bob's expected revenue for next year?
Suppose an oil company is thinking of buying some land for $10,000,000. There is a 60%60% chance of economic growth and a 40%40% chance of recession. The probability of discovering oil is 44%44% when there is economic growth and 32%32% when there is a recession. If there is economic growth and the oil company discovers oil, the value of the land will triple. If they do not discover oil, the value of the land will decrease by 10%.10%. If there is a recession and the company discovers oil, the value of the land will increase by 50%.50%. If they do not discover oil, the land will decrease in value by 75%.75%. What is the expected value of the investment? Give your answer to the nearest dollar. Avoid rounding within calculations. $$ Select the correct interpretation of the expected value. The expected value represents what the actual investment value will be for this land purchase of $10,000,000. The company should make the investment because the expected value…
When playing games of chance like roulette, people often say that a particular outcome is due, implying that one income is more likely because it has not happened in a while. This is fallacy because in these examples of outcome of each trial is: a. independent b. dependent c. subjective d. interrelative
Cable TV choices: A telecommunications company provided its cable TV subscribers with free access to a new sports channel for a period of 1 month. It then chose a sample of 404 television viewers and asked them whether they would be willing to pay an extra $10 per month to continue to access the channel. A total of 35 of the 404 replied that they would be willing to pay. The marketing director of the company claims that the percentage of all of its subscribers who would pay for the channel differs from 6%. Can you conclude that the director's claim is true? Use the a=0.10 level of significance and the P-value method with the table. Part: 0 / 4 Part 1 of 4 (a) State the appropriate null and alternate hypotheses. Ho : H₁ : This hypothesis test is a (Choose one) ▼ test. Part: 1 / 4 Part 2 of 4 P-value= Part: 2 / 4 Part 3 of 4 (b) Compute the P-value. Round the answer to at least four decimal places. (c) Determine whether to reject Ho. (Choose one) Part: 3 / 4 Part 4 of 4 X (d) State a…

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