You are doing an industry analysis of the Bloomingtonpizza industry. The rate (per year) at which pizza restaurantsenter the industry is given by p, where p price of a pizzain dollars. The price of a pizza is assumed to be max(0,16 .5F), where F number of pizza restaurants inBloomington. During a given year, the probability that apizza restaurant fails is 1/(10 p). Create a birth–deathmodel of this situation.a In the steady state, estimate the average number ofpizza restaurants in Bloomington.b What fraction of the time will there be more than 20pizza restaurants in Bloomington?

Q: )Listen The average life of a brand of automobile tires is 30,000 miles, with a standard deviation…

A: Here is given that, mean is 30000 and standard deviation is 2000. We will use z-standard normal…

Q: You randomly survey shoppers at a supermarket about whether they use reusable bags. Of 60 male…

A: Out of 60 male shoppers, 15 use reusable bags. Out of 110 female shoppers, 60 use reusable bags.

Q: Assume that adults have IQ scores that are normally distributed with a mean of μ = 105 and a…

A: Here given situation is of normal distribution, which is continuous distribution. Let X : IQ of…

Q: Assume the readings on thermometers are normally distributed with a mean of 0degrees°C and a…

A: We have to find probability..

Q: Cody took his first physics exam and scored an 80. The population mean for this exam is 70, and the…

A: Solution: It is given that, Population mean, 70 Standard deviation, 5 Given that Cody took his first…

Q: Trucks in a delivery fleet travel a mean of 100 miles per day with a standard deviation of 38 miles…

A:

Q: The amount of time a nurse at the blood donor clinic spends with a patient is known to follow an…

A: The average amount of time spends with a patient is 10 minutes.A random variable XExponential(=)The…

Q: Refer to the accompanying data display that results from a sample of airport data speeds in Mbps.…

A: Given,

Q: Use the exponential distribution to determine the probability of the failure of a vacuum tube…

A:

Q: The time (in years) after reaching age 60 that it takes an individual to retire is approximately…

A: Let X be the time after age 60 to retirement. It follows exponential distribution.

Q: The weights of newborn baby boys born at a local hospital are believed to have a normal distribution…

A: From the provided information, Mean (µ) = 3282 Variance (σ2) = 349281

Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.