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Concept explainers
Use the probability density function given in Example 1 to find the probability that the individual waits:
(A) Between 0 and 10 minutes
(B) Between 10 and 20 minutes
(C) Between 17 and 27 minutes
Waiting Time A bus arrives every 30 minutes at a particular bus stop. If an individual arrives at the bus stop at a random time (that is, with no knowledge of the bus schedule), then the random variable X, representing the time this individual must spend waiting for the next bus, is said to be uniformly distributed on the interval [0, 30]. The probability density function for this uniformly distributed random variable is
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Chapter 11 Solutions
EBK CALCULUS FOR BUSINESS, ECONOMICS, L
- 2. Let Y₁,……., Y be a random sample with common mean μ and common variance σ². Use the CLT to write an expression approximating the CDF P(Ỹ ≤ x) in terms of µ, σ² and n, and the standard normal CDF Fz(·).arrow_forward3. We'd like to know the first time when the population reaches 7000 people. First, graph the function from part (a) on your calculator or Desmos. In the same window, graph the line y = 7000. Notice that you will need to adjust your window so that you can see values as big as 7000! Investigate the intersection of the two graphs. (This video shows you how to find the intersection on your calculator, or in Desmos just hover the cursor over the point.) At what value t> 0 does the line intersect with your exponential function? Round your answer to two decimal places. (You don't need to show work for this part.) (2 points)arrow_forwardSuppose the planet of Tattooine currently has a population of 6500 people and an annual growth rate of 0.35%. Use this information for all the problems below. 1. Find an exponential function f(t) that gives the population of Tattooine t years from now. (3 points)arrow_forward
- A house was valued at $95,000 in the year 1988. The value appreciated to $170,000 by the year 2007. A) If the value is growing exponentially, what was the annual growth rate between 1988 and 2007? Round the growth rate to 4 decimal places. r = B) What is the correct answer to part A written in percentage form? r = 3 %.arrow_forwardB G R + K Match each equation with a graph above - 3(0.9)* 1 a. green (G) 3(1.5)* b. black (K) 3(0.73)* c. blue (B) d. red (R) I ✪ 4(1.21)* - 3(1.21)* e. orange (O)arrow_forwardSuppose the planet of Tattooine currently has a population of 6500 people and an annual growth rate of 0.35%. Use this information for all the problems below.arrow_forward
- Consider the weighted voting system [16: 15, 8, 3, 1]Find the Banzhaf power distribution of this weighted voting system.List the power for each player as a fraction: P1: P2: P3: P4:arrow_forwardNo chatgpt pls willarrow_forwardConsider the weighted voting system [9: 7, 4, 1]Find the Shapley-Shubik power distribution of this weighted voting system.List the power for each player as a fraction:P1: P2: P3:arrow_forward
- Consider the weighted voting system [11: 7, 4, 1]Find the Shapley-Shubik power distribution of this weighted voting system.List the power for each player as a fraction: P1: P2: P3:arrow_forwardConsider the weighted voting system [18: 15, 8, 3, 1]Find the Banzhaf power distribution of this weighted voting system.List the power for each player as a fraction: P1: P2: P3: P4:arrow_forwardConsider the weighted voting system [16: 15, 8, 3, 1]Find the Banzhaf power distribution of this weighted voting system.List the power for each player as a fraction: P1: P2: P3: P4:arrow_forward
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