Suppose the time to process a loan application follows a uniform distribution over the range 6 to 17 days. What is the probability that arandomly selected loan application takes longer than 8 days to process?answer:Preview My AnswersSubmit Answers

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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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An insurance policy costs $105 per year and insures the items in the policy owner's home against theft for the year in which coverage is purchased. Which of these correctly describes the additional information that the insurance company will need to calculate an expected net return per policy? A The number of policies sold only B The payout to the insured if a theft occurs only C The number of policies sold and the probability of damage occurring to the home D The probability of theft of property from the policy owner's home and the payout to the insured if a theft occurs
A subway train arrives every eight minutes during rush hour. We are interested in the length of time a commuter must wait for a train to arrive. The time follows a uniform distribution. Find the probability that the commuter waits less than two minutes. Write your answer as an exact decimal.
The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $9 each and will sell 500 tickets. There is one $3,000 grand prize, three $500 second prizes, and seventeen $10 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.
Collina's Italian Cafe in Houston, Texas, advertises that carryout orders take about 25 minutes. Assume that the time required for a carryout order to be ready for customer pickup has an exponential distribution with a mean of 25 minutes. If a customer arrive 30 minutes after placing an order, what is the probability that the order will not be ready
The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $5 each and will sell 800 tickets. There is one $2,000 grand prize, two $400 second prizes, and eleven $20 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.
The time to fly via a commercial airliner from Newark airport to Atlanta follows a uniform distribution and ranges from 120 minutes to 140 minutes. What is the probability that a flight is more than 128 minutes? Express answer as a percent with 1 decimal
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If a 60 year-old buys a $1000 life insurance policy at a cost of $70 and has a probability of 0.921 of living to age 61, find the expectation of the policy until the person reaches 61. Round your answer to the nearest cent
What is the probability of being dealt two kings in a row from a deck of cards without replacing the first card drawn? Leave your answer as a percent to the nearest tenth (one decimal) after converting to %. You can leave out the % sign.
The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $5 each and will sell 500 tickets. There is one $3,000 grand prize, three $400 second prizes, and fifteen $20 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.
When manufacturing fabric, the mean number of imperfections per yard of fabric is 0.12. Find the probability that 2 yards of fabric will have at most 1 imperfection.

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Suppose the time to process a loan application follows a uniform distribution over the range 6 to 17 days. What is the probability that a randomly selected loan application takes longer than 8 days to process? answer: Preview My Answers Submit Answers