Suppose that the City of Chicago is interested in potential revenues if they introduce a tolling station near O'Hare. Further suppose that the average time between cars is only 1.6 seconds; what is the likelihood that the next car comes in more than 4.1 seconds? Round your answer to two decimal places.

Suppose that the City of Chicago is interested in potential revenues if they introduce a tolling station near O'Hare. Further suppose that the average time between cars is only 1.6 seconds; what is the likelihood that the next car comes in more than 4.1 seconds? Round your answer to two decimal places.

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...

See similar textbooks

Similar questions

B. What is the best predicted temperature for a time when a bug is chirping at the rate of 3000 chirps per minute? The best predicted temperature when a bug is chirping at 3000 chirps per minute is____°F. C. What is wrong with this predicted value? The first variable should have been the dependent variable. It is unrealistically high. The value 3000 is far outside of the range of observed values. It is only an approximation. An unrounded value would be considered accurate. Nothing is wrong with this value. It can be treated as an accurate prediction.
Use reg no 134 Q.1 From the set of data X having the values last number of your registration number as X1 is the last digit of your registration number, X2=X1+1, X3=X2+2 and X4=X3+3, then (5+5) I. Show that the sum of the deviations of the observations Xi's from their mean, is equal to zero. II. Show that sum of square of devotion form mean is minimum than the sum of squared devotion from any other arbitrary value
1. ABC inc. stock is currently selling for $30, one year from today the stock price can either increase by 20% or decrease by 15%. The probability of an increase in the stock price is equal to 0.3. The one-year risk-free rate is 5% What is the value of a European put that expires in one year with an exercise price of $24. 2. Graphically, show the value and the profit and loss of the following butterfly position: Long in a call with an exercise price of $30, short in 2 calls with an exercise price of $45, and long in a call with an exercise price of 60. All calls are written on the same stock and have the same maturity. 3. "Early exercise of an American option on a stock that does not pay any dividend is not optimal regardless of whether the option is a Call or a Put". True, False, or Uncertain. Explain.
For this problem, carry at least four digits after the decimal in your calculations. Answers may vary slightly due to rounding.In a combined study of northern pike, cutthroat trout, rainbow trout, and lake trout, it was found that 34 out of 806 fish died when caught and released using barbless hooks on flies or lures. All hooks were removed from the fish. (a) Let p represent the proportion of all pike and trout that die (i.e., p is the mortality rate) when caught and released using barbless hooks. Find a point estimate for p. (Round your answer to four decimal places.)(b) Find a 99% confidence interval for p. (Round your answers to three decimal places.) lower limit upper limit
To the Internal Revenue Service (IRS), the reasonableness of total itemized deductions depends on the taxpayer's adjusted gross income. Large deductions, which include charity and medical deductions, are more reasonable for taxpayers with large adjusted gross incomes. If a taxpayer claims larger th average itemized deductions for a given level of income, the chances of an IRS audit are increased. Data (in thousands of dollars) on adjusted gross income and the average or reasonable amount of itemized deductions follow. Adjusted Gross Income ($1,000s) 22 Itemized Deductions ($1,000s) 9.6 27 9.6 32 10.1 48 11.1 65 11.5 85 120 19.7 23.5 (a) Develop a scatter diagram for these data with adjusted gross income as the independent variable. 30 25 20 15 • 10 5 Itemized Deductions ($1,000s) 0 20 40 60 80 100 120 Adjusted Gross Income ($1,000s) 140 30 25 20 15 10 5. Itemized Deductions ($1,000s) 30 25 20 15 10 • 15 • 10 5- 0 20 40 60 80 100 120 140 0 Adjusted Gross Income ($1,000s) 20 40 60 80 100…
If the duration of a disease is long and the incidence of the disease is low, the prevalence rate of that disease will be similar to the incidence rate of that disease. True False
Suppose that the result of a public opinion poll shows that just 10% of people would be willing to give up their cell phones for 1 week in exchange for $100. How many people would need to be surveyed in order to have a margin of error of ±2%?
Please do not use Excel to find the answers
The arm span of a team of athletes was measured and listed in the attached image (Problem-Image2.jpg). a) Calculate the mean arm span, ?̄. b) Complete the table and calculate (to two decimal places of accuracy, the standard deviationof the data.). Check the equation in the attached image (Problem-Image3.jpg)
3. Suppose Par = $10,000,000; PO = $7,500,000; T = 3; d = 0.006; m = 0.7 and π = 0.5. Then what is the expected zero rate? * O a. 9.97% pa. O b. 8.92% pa. O c. 7.92% pa. O d. 9.64% pa. O e. 9.92% pa.
For this problem, carry at least four digits after the decimal in your calculations. Answers may vary slightly due to rounding.A random sample of 5751 physicians in Colorado showed that 2981 provided at least some charity care (i.e., treated poor people at no cost). (a) Let p represent the proportion of all Colorado physicians who provide some charity care. Find a point estimate for p. (Round your answer to four decimal places.)(b) Find a 99% confidence interval for p. (Round your answers to three decimal places.) lower limit upper limit
Two varieties of corn are grown in 4 different locations. Each location provides a value in pounds for each variety.The table below lists the results. Find the standard error for the difference in the production of the two corn varieties to two decimal places. Variety 1 Variety 2 difference location 1 32.1 34.5 -2.4 location 2 30.6 32.6 -2.0 location 3 33.7 34.6 -0.9 location 4 29.7 31.6 -1.3 mean value 31.53 33.18 -1.65 standard deviation 1.76 1.72 0.68 1.23 0.75 0.34 0.98