The move to online instruction that was forced on universities by COVID has introduced considerable uncertainty in demand for face to face instruction. A business school is trying to decide how many face to face sections of an introductory accounting course need to be offered in the coming semester, and has come up with the following probability distribution for demand. Number of students who will choose to attend in person (x) Prob(x) 200 .10 250 .20 300 .40 350 .15 400 .15 a. Is this a valid probability distribution? Why or why not? b. What is the expected value and standard deviation of the number of students who will choose to attend in person? c. Would you say the distribution above obeys the empirical rule? Justify briefly either way. ***Please answer only D*** d. Regardless of whether you answered yes or no to (c), assume the empirical rule applies. If you were the accounting department chair, what range of values of x would you use to plan how many face-to-face sections to offer? Justify briefly.

The move to online instruction that was forced on universities by COVID has introduced considerable uncertainty in demand for face to face instruction. A business school is trying to decide how many face to face sections of an introductory accounting course need to be offered in the coming semester, and has come up with the following probability distribution for demand. Number of students who will choose to attend in person (x) Prob(x) 200 .10 250 .20 300 .40 350 .15 400 .15 a. Is this a valid probability distribution? Why or why not? b. What is the expected value and standard deviation of the number of students who will choose to attend in person? c. Would you say the distribution above obeys the empirical rule? Justify briefly either way. Please answer only D d. Regardless of whether you answered yes or no to (c), assume the empirical rule applies. If you were the accounting department chair, what range of values of x would you use to plan how many face-to-face sections to offer? Justify briefly.

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

at the bank of california, past data show that 8% of all credit card holders default at some time in their lives. on recent day, this bank issued 12 credit cards to new customers. find the probability that of these 12 customers, eventually a. less than 10 will default b. between 4 to 6 will default
You manage a call center and your job is to make sure the employees aren’t slacking off when they are on the clock. You notice that one employee goes 20 minutes without picking up the phone, and you know the expected time between calls is 2 minutes. Derive an upper bound for the probability that the employee didn’t receive a call during the 20 minutes
Many track hurdlers believe that they have a better chance of winning if they start in the inside lane that is closest to the field. For the data below, the lane closest to the field is Lane 1, the next lane is Lane 2, and so on until the outermost lane, Lane 6. The data lists the number of wins for track hurdlers in the different starting positions. Calculate the chi-square test statistic x to test the claim that the probabilities of winning are the same in the different positions. Use α = 0.05. The results are based on 240 wins. Starting Position 3 4 5 6 1 2 Number of Wins 44 32 33 50 36 45 O A. 6.750 O B. 12.592 O C. 15.541 O D. 9.326 C
An LG Dishwasher, which costs $950, has a 20% chance of needing to be replaced in the first 2 years of purchase. A two-year extended warrantee costs $112.10 on a dishwasher. Assume the dishwasher is replaced in the first 2 years. a) Write out the probability distribution for the value of the extended warranty. Make sure you enter your X values from smallest to largest. X P(X) b) What is the expected value of the extended warranty? Round final answer to 2 decimal places and write the units in the second box.
The television show Lost has been successful for many years. That show recently had a share of 24, meaning that among the TV sets in use, 24% were tuned to Lost. Assume that an advertiser wants to verify that 24% share value by conducting its own survey, and a pilot survey begins with 15 households have TV sets in use at the time of a Lost broadcast.Find the probability that none of the households are tuned to Lost.P(none) = Find the probability that at least one household is tuned to Lost.P(at least one) = Find the probability that at most one household is tuned to Lost.P(at most one) = If at most one household is tuned to Lost, does it appear that the 24% share value is wrong? (Hint: Is the occurrence of at most one household tuned to Lost unusual?) yes, it is wrong no, it is not wrong
The television show Ghost Whistler has been successful for many years. That show recently had a share of 18, meaning that among the TV sets in use, 18% were tuned to Ghost Whistler. Assume that an advertiser wants to verify that 18% share value by conducting its own survey, and a pilot survey begins with 14 households have TV sets in use at the time of a Ghost Whistler broadcast.Find the probability that none of the households are tuned to Ghost Whistler.P(none) = Find the probability that at least one household is tuned to Ghost Whistler.P(at least one) = Find the probability that at most one household is tuned to Ghost Whistler.P(at most one) = If at most one household is tuned to Ghost Whistler, does it appear that the 18% share value is wrong? (Hint: Is the occurrence of at most one household tuned to Ghost Whistler unusual?)
At the beginning of each day, a patient in the hospital is classifed into one of the three conditions: good, fair or critical. At the beginning of the next day, the patient will either still be in the hospital and be in good, fair or critical condition or will be discharged in one of three conditions: improved, unimproved, or dead. The transistion probabilities for this situation are Good Fair Critical Good 0.65 0.20 0.05 Fair 0.50 0.30 0.12 Critical 0.51 0.25 0.20 Improved Unimproved Dead Good 0.06 0.03 0.01 Fair 0.03 0.02 0.03 Critical 0.01 0.01 0.02 For example a patient who begins the day in fair condition has a 12% chance of being in critical condition the next day and a 3%…
An analyst attempting to predict a corporation’s earnings next year believes that the corporation’s business is quite sensitive to the level of interest rates. He believes that, if average rates in the next year are more than 1% higher than this year, the probability of significant earnings growth is 0.1. If average rates next year are more than 1% lower than this year, the probability of significant earnings growth is estimated to be 0.8. Finally, if average interest rates next year are within 1% of this year’s rates, the probability for significant earnings growth is put at 0.5. The analyst estimates that the probability is 0.25 that rates next year will be more than 1% higher than this year and 0.15 that they will be more than 1% lower than this year.a. What is the estimated probability that both interest rates will be 1% higher and significant earnings growth will result?b. What is the probability that this corporation will experience significant earnings growth?c. If the…
zample 3: Alexis is selling girl scout cookies. She has kept track of the number of boxes of cookies at her customers have purchased over the last 2 years. She wants to use this data to help edict how many boxes of cookies a new customer might purchase. The table below summarizes exis' data, with the number of boxes that a customer might purchase along with the rresponding probability that they will purchase that number of boxes based on her previous les. Use this information to answer the following questions. Outcomes: 2 3 4 5 6 7 8 X = x Probability: P(X = x¡) 0.21 0.16 0.32 0.11 0.08 0.05 0.04 0.02 0.01 a) Construct a probability histogram of the data in the table above and comment on the shape. ) What is the probability that a randomly selected customer will purchase 3 boxes of cookies? What is the probability that a randomly selected customer will purchase at least 4 boxes of cookies? What is the probability that a randomly selected customer will purchase anywhere from 2 to 5…
A door-to-door salesman expects to make a sale 14% of the time when starting the day. But making a sale increases his enthusiasm so much that the probability of a sale to the next customer is 0.39. If he makes no sale, the probability for a sale to the next customer stays at 0.14. What is the probability that he will make at least two sales with his first three visits?