ELEMENTARY STATISTICS W/CONNECT >IP<
4th Edition
ISBN: 9781259746826
Author: Bluman
Publisher: MCG
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Chapter 4.3, Problem 7E
a.
To determine
To find: The
b.
To determine
To find: The probability that law enforcement worker is a male civilian employee.
c.
To determine
To find: The probability that law enforcement worker is a male or civilian employee.
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Question 2. An American option on a stock has payoff given by F = f(St) when it is exercised
at time t. We know that the function f is convex. A person claims that because of convexity,
it is optimal to exercise at expiration T. Do you agree with them?
Question 4. We consider a CRR model with So == 5 and up and down factors u = 1.03 and
d = 0.96. We consider the interest rate r = 4% (over one period). Is this a suitable CRR
model? (Explain your answer.)
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advisors estimate the parameters with two different statistical methods: they obtain the same
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has interest rate r2 (r1>r2). They both use a CRR model with the same number of periods to
price the option. Which advisor will get the larger price? (Explain your answer.)
Chapter 4 Solutions
ELEMENTARY STATISTICS W/CONNECT >IP<
Ch. 4.1 - Tossing a Coin Assume you are at a carnival and...Ch. 4.1 - What is a probability experiment?Ch. 4.1 - Define sample space.Ch. 4.1 - What is the difference between an outcome and an...Ch. 4.1 - What are equally likely events?Ch. 4.1 - What is the range of the values of the probability...Ch. 4.1 - When an event is certain to occur, what is its...Ch. 4.1 - If an event cannot happen, what value is assigned...Ch. 4.1 - What is the sum of the probabilities of all the...Ch. 4.1 - If the probability that it will rain tomorrow is...
Ch. 4.1 - A probability experiment is conducted. Which of...Ch. 4.1 - Classify each statement as an example of classical...Ch. 4.1 - Classify each statement as an example of classical...Ch. 4.1 - Prob. 13ECh. 4.1 - Rolling a Die If a die is rolled one time, find...Ch. 4.1 - Prob. 15ECh. 4.1 - Rolling Two Dice If two dice are rolled one time,...Ch. 4.1 - Prob. 17ECh. 4.1 - Drawing a Card If a card is drawn from a deck,...Ch. 4.1 - Shopping Mall Promotion A shopping mall has set up...Ch. 4.1 - Selecting a State Choose one of the 50 states at...Ch. 4.1 - Human Blood Types Human blood is grouped into four...Ch. 4.1 - Prob. 22ECh. 4.1 - Prob. 23ECh. 4.1 - Rural Speed Limits Rural speed limits for all 50...Ch. 4.1 - Prob. 25ECh. 4.1 - Sources of Energy Uses in the United States A...Ch. 4.1 - Prob. 27ECh. 4.1 - Computers in Elementary Schools Elementary and...Ch. 4.1 - College Debt The following information shows the...Ch. 4.1 - Population of Hawaii The population of Hawaii is...Ch. 4.1 - Prob. 31ECh. 4.1 - Living Arrangements for Children Here are the...Ch. 4.1 - Prob. 33ECh. 4.1 - Federal Government Revenue The source of federal...Ch. 4.1 - Selecting a Bill A box contains a 1 bill, a 5...Ch. 4.1 - Tossing Coins Draw a tree diagram and determine...Ch. 4.1 - Prob. 37ECh. 4.1 - Family Dinner Combinations A family special at a...Ch. 4.1 - Prob. 39ECh. 4.1 - Prob. 40ECh. 4.1 - Distribution of CEO Ages The distribution of ages...Ch. 4.1 - Tossing a Coin A person flipped a coin 100 times...Ch. 4.1 - Medical Treatment A medical doctor stated that...Ch. 4.1 - Wheel Spinner The wheel spinner shown here is spun...Ch. 4.1 - Tossing Coins Toss three coins 128 times and...Ch. 4.1 - Applying the Concepts 41 Tossing a Coin Assume you...Ch. 4.1 - Odds Odds are used in gambling games to make them...Ch. 4.2 - Applying the Concepts 42 Which Pain Reliever Is...Ch. 4.2 - Define mutually exclusive events, and give an...Ch. 4.2 - Explain briefly why addition rule 2 can be used...Ch. 4.2 - Prob. 3ECh. 4.2 - Determine whether these events are mutually...Ch. 4.2 - College Degrees Awarded The table below represents...Ch. 4.2 - Riding to School The probability that John will...Ch. 4.2 - Medical Specialities The following doctors were...Ch. 4.2 - U.S. Population The data show the U.S. population...Ch. 4.2 - Prob. 9ECh. 4.2 - Selecting a Movie A media rental store rented the...Ch. 4.2 - Prob. 11ECh. 4.2 - Selecting a Book At a used-book sale, 100 books...Ch. 4.2 - Young Adult Residences According to the Bureau of...Ch. 4.2 - Endangered Species The chart below shows the...Ch. 4.2 - Multiple Births The number of multiple births in...Ch. 4.2 - Licensed Drivers in the United States In a recent...Ch. 4.2 - Prob. 17ECh. 4.2 - Mail Delivery A local postal carrier distributes...Ch. 4.2 - Medical Tests on Emergency Patients The frequency...Ch. 4.2 - College Fundraiser A social organization of 32...Ch. 4.2 - Prob. 21ECh. 4.2 - Medical Patients A recent study of 300 patients...Ch. 4.2 - Prob. 23ECh. 4.2 - Rolling Die Two dice are rolled. Find the...Ch. 4.2 - Prob. 25ECh. 4.2 - Rolling Dice Three dice are rolled. Find the...Ch. 4.2 - Prob. 27ECCh. 4.2 - Building a New Home In building new homes, a...Ch. 4.2 - Prob. 29ECCh. 4.2 - Prob. 30ECCh. 4.2 - Prob. 31ECCh. 4.2 - Events A and B are mutually exclusive with P(A)...Ch. 4.3 - Prob. 1ACCh. 4.3 - State which events are independent and which are...Ch. 4.3 - State which events are independent and which are...Ch. 4.3 - Video and Computer Games Sixty-nine percent of...Ch. 4.3 - Seat Belt Use The Gallup Poll reported that 52% of...Ch. 4.3 - Automobile Sales An automobile salesperson finds...Ch. 4.3 - Prison Populations If 25% of U.S. federal prison...Ch. 4.3 - Prob. 7ECh. 4.3 - Working Women and Computer Use It is reported that...Ch. 4.3 - Prob. 9ECh. 4.3 - Selecting Marbles A bag contains 9 red marbles, 8...Ch. 4.3 - Prob. 11ECh. 4.3 - Flashlight Batteries A flashlight has 6 batteries,...Ch. 4.3 - Prob. 13ECh. 4.3 - Scientific Study In a scientific study there are 8...Ch. 4.3 - Prob. 15ECh. 4.3 - Winning a Door Prize At a gathering consisting of...Ch. 4.3 - Prob. 17ECh. 4.3 - Sales A manufacturer makes two models of an item:...Ch. 4.3 - Student Financial Aid In a recent year 8,073,000...Ch. 4.3 - Selecting Colored Balls Urn 1 contains 5 red balls...Ch. 4.3 - Automobile Insurance An insurance company...Ch. 4.3 - Defective Items A production process produces an...Ch. 4.3 - Prison Populations For a recent year, 0.99 of the...Ch. 4.3 - Rolling Dice Roll two standard dice and add the...Ch. 4.3 - Heart Disease Twenty-five percent of all deaths...Ch. 4.3 - Country Club Activities At the Avonlea Country...Ch. 4.3 - College Courses At a large university, the...Ch. 4.3 - Congressional Terms Below is given the summary...Ch. 4.3 - Pizza and Salads In a pizza restaurant, 95% of the...Ch. 4.3 - Gift Baskets The Gift Basket Store had the...Ch. 4.3 - Blood Types and Rh Factors In addition to being...Ch. 4.3 - Doctor Specialties Below are listed the numbers of...Ch. 4.3 - Lightning Strikes It has been said that the...Ch. 4.3 - Prob. 34ECh. 4.3 - Leisure Time Exercise Only 27% of U.S. adults get...Ch. 4.3 - Customer Purchases In a department store there are...Ch. 4.3 - Marital Status of Women According to the...Ch. 4.3 - Fatal Accidents The American Automobile...Ch. 4.3 - On-Time Airplane Arrivals According to FlightStats...Ch. 4.3 - On-Time Flights A flight from Pittsburgh to...Ch. 4.3 - Reading to Children Fifty-eight percent of...Ch. 4.3 - Doctoral Assistantships Of Ph.D. students, 60%...Ch. 4.3 - Prob. 43ECh. 4.3 - Autism In recent years it was thought that...Ch. 4.3 - Prob. 45ECh. 4.3 - Medication Effectiveness A medication is 75%...Ch. 4.3 - Prob. 47ECh. 4.3 - Selecting a Letter of the Alphabet If 3 letters of...Ch. 4.3 - Prob. 49ECh. 4.3 - Prob. 50ECh. 4.3 - Prob. 51ECh. 4.3 - Selecting a Flower In a large vase, there are 8...Ch. 4.3 - Let A and B be two mutually exclusive events. Are...Ch. 4.3 - Types of Vehicles The Bargain Auto Mall has the...Ch. 4.3 - Prob. 55ECCh. 4.3 - Commercials Event A is the event that a person...Ch. 4.3 - Given a sample space with events A and B such that...Ch. 4.3 - Childs Board Game In a childs board game of the...Ch. 4.3 - Bags Containing Marbles Two bags contain marbles....Ch. 4.4 - Garage Door Openers Garage door openers originally...Ch. 4.4 - Zip Codes How many 5-digit zip codes are possible...Ch. 4.4 - Letter Permutations List all the permutations of...Ch. 4.4 - Prob. 3ECh. 4.4 - Visiting Nurses How many different ways can a...Ch. 4.4 - Quinto Lottery A lottery game called Quinto is...Ch. 4.4 - Show Programs Three bands and two comics are...Ch. 4.4 - Prob. 7ECh. 4.4 - Radio Station Call Letters The call letters of a...Ch. 4.4 - Prob. 9ECh. 4.4 - Secret Code Word How many 4-letter code words can...Ch. 4.4 - Passwords Given the characters A, B, C, H, I, T,...Ch. 4.4 - Automobile Trips There are 2 major roads from city...Ch. 4.4 - Prob. 13ECh. 4.4 - Evaluate each expression. a. 6! b. 11! c. 2! d. 9!...Ch. 4.4 - Sports Car Stripes How many different 4-color code...Ch. 4.4 - Manufacturing Tests An inspector must select 3...Ch. 4.4 - Prob. 17ECh. 4.4 - Inspecting Restaurants How many different ways can...Ch. 4.4 - Prob. 19ECh. 4.4 - Word Permutation How many different 4-letter...Ch. 4.4 - ID Cards How many different ID cards can be made...Ch. 4.4 - Free-Sample Requests An online coupon service has...Ch. 4.4 - Ticket Selection How many different ways can 4...Ch. 4.4 - Movie Selections The Foreign Language Club is...Ch. 4.4 - Task Assignments How many ways can an adviser...Ch. 4.4 - Agency Cases An investigative agency has 7 cases...Ch. 4.4 - Signal Flags How many different flag signals, each...Ch. 4.4 - Word Permutations How many permutations can be...Ch. 4.4 - Code Words How many different 9-letter code words...Ch. 4.4 - Toothpaste Display How many different ways can 5...Ch. 4.4 - Book Arrangements How many different ways can 6...Ch. 4.4 - Word Permutations How many permutations can be...Ch. 4.4 - Evaluate each expression. a. 5C2 b. 8C3 c. 7C4 d....Ch. 4.4 - Evaluate each expression. a. 3C0 b. 3C3 c. 9C7 d....Ch. 4.4 - Prob. 35ECh. 4.4 - Selecting Players How many ways can 4 baseball...Ch. 4.4 - Prob. 37ECh. 4.4 - Selecting Christmas Presents If a person can...Ch. 4.4 - Buffet Desserts In how many ways can you choose 3...Ch. 4.4 - Bridge Foursomes How many different tables of 4...Ch. 4.4 - Music Recital Six students are performing one song...Ch. 4.4 - Freight Train Cars In a train yard there are 4...Ch. 4.4 - Selecting a Committee There are 7 women and 5 men...Ch. 4.4 - Buffet Desserts In how many ways can you choose 3...Ch. 4.4 - Hawaiian Words The Hawaiian alphabet consists of 7...Ch. 4.4 - Selecting a Jury How many ways can a jury of 6...Ch. 4.4 - Selecting Students How many ways can you pick 4...Ch. 4.4 - Investigative Team The state narcotics bureau must...Ch. 4.4 - Prob. 49ECh. 4.4 - Charity Event Participants There are 16 seniors...Ch. 4.4 - Prob. 51ECh. 4.4 - DVD Selection How many ways can a person select 8...Ch. 4.4 - Prob. 53ECh. 4.4 - Selecting a Location An advertising manager...Ch. 4.4 - Prob. 55ECh. 4.4 - Test Marketing Products Anderson Research Company...Ch. 4.4 - Prob. 57ECh. 4.4 - Selecting Musicals How many different ways can a...Ch. 4.4 - Textbook Selection How many different ways can an...Ch. 4.4 - DVD Selection How many ways can a person select 8...Ch. 4.4 - Prob. 61ECh. 4.4 - Signal Flags How many different signals can be...Ch. 4.4 - Prob. 63ECh. 4.4 - Air Pollution The Environmental Protection Agency...Ch. 4.4 - Selecting Officers In a board of directors...Ch. 4.4 - Prob. 66ECh. 4.4 - Prob. 67ECCh. 4.4 - Prob. 68ECCh. 4.4 - Seating in a Movie Theater How many different ways...Ch. 4.4 - Prob. 70ECCh. 4.4 - Prob. 71ECCh. 4.4 - Prob. 72ECCh. 4.5 - Applying the Concepts 45 Counting Rules and...Ch. 4.5 - Selecting Cards Find the probability of getting 2...Ch. 4.5 - Selecting Cards Cards numbered 110 are shuffled...Ch. 4.5 - Prob. 3ECh. 4.5 - Prob. 4ECh. 4.5 - Job Applications Six men and seven women apply for...Ch. 4.5 - Defective Resistors A package contains 12...Ch. 4.5 - Prob. 7ECh. 4.5 - Getting a Full House Find the probability of...Ch. 4.5 - World-Class Orchestras About.coms list of 20 World...Ch. 4.5 - Selecting Cards The red face cards and the black...Ch. 4.5 - Socks in a Drawer A drawer contains 11 identical...Ch. 4.5 - Selecting Books Find the probability of selecting...Ch. 4.5 - Prob. 13ECh. 4.5 - Football Team Selection A football team consists...Ch. 4.5 - Arrangement of Washers Find the probability that...Ch. 4.5 - Poker Hands Using the information in Exercise 70...Ch. 4.5 - Prob. 17ECh. 4 - Prob. 4.1.1RECh. 4 - Selecting a Card When a card is selected from a...Ch. 4 - Software Selection The top-10 selling computer...Ch. 4 - Motor Vehicle Producers The top five motor vehicle...Ch. 4 - Prob. 4.1.5RECh. 4 - Rolling Two Dice When two dice are rolled, find...Ch. 4 - Prob. 4.2.7RECh. 4 - Breakfast Drink In a recent survey, 18 people...Ch. 4 - Prob. 4.2.9RECh. 4 - Prob. 4.2.10RECh. 4 - Online Course Selection Roughly 1 in 6 students...Ch. 4 - Purchasing Sweaters During a sale at a mens store,...Ch. 4 - Drawing Cards Three cards are drawn from an...Ch. 4 - Coin Toss and Card Drawn A coin is tossed and a...Ch. 4 - Movie Releases The top five countries for movie...Ch. 4 - Factory Output A manufacturing company has three...Ch. 4 - Effectiveness of Vaccine A vaccine has a 90%...Ch. 4 - T-shirt Factories Two T-shirt printing factories...Ch. 4 - Car Purchase The probability that Sue will live on...Ch. 4 - Prob. 4.3.20RECh. 4 - Prob. 4.3.21RECh. 4 - Bad Weather The probability that it snows and the...Ch. 4 - Education Level and Smoking At a large factory,...Ch. 4 - Prob. 4.3.24RECh. 4 - Prob. 4.3.25RECh. 4 - Prob. 4.3.26RECh. 4 - Prob. 4.4.27RECh. 4 - Prob. 4.4.28RECh. 4 - Prob. 4.4.29RECh. 4 - Prob. 4.4.30RECh. 4 - Prob. 4.4.31RECh. 4 - Committee Representation There are 6 Republican, 5...Ch. 4 - Song Selections A promotional MP3 player is...Ch. 4 - Prob. 4.4.34RECh. 4 - Prob. 4.4.35RECh. 4 - Prob. 4.4.36RECh. 4 - Prob. 4.4.37RECh. 4 - Prob. 4.4.38RECh. 4 - Prob. 4.4.39RECh. 4 - Prob. 4.4.40RECh. 4 - Prob. 4.5.41RECh. 4 - License Plates A certain states license plate has...Ch. 4 - Territorial Selection Several territories and...Ch. 4 - Yahtzee Yahtzee is a game played with 5 dice....Ch. 4 - Personnel Classification For a survey, a subject...Ch. 4 - Determine whether each statement is true or false....Ch. 4 - Determine whether each statement is true or false....Ch. 4 - Prob. 3CQCh. 4 - Prob. 4CQCh. 4 - Determine whether each statement is true or false....Ch. 4 - Determine whether each statement is true or false....Ch. 4 - Prob. 7CQCh. 4 - Prob. 8CQCh. 4 - Prob. 9CQCh. 4 - When a meteorologist says that there is a 30%...Ch. 4 - The sample space for tossing 3 coins consists of...Ch. 4 - Prob. 12CQCh. 4 - When two dice are rolled, the sample space...Ch. 4 - Prob. 14CQCh. 4 - What is the number of permutations of 6 different...Ch. 4 - Prob. 16CQCh. 4 - Prob. 17CQCh. 4 - Complete the following statements with the best...Ch. 4 - Complete the following statements with the best...Ch. 4 - Complete the following statements with the best...Ch. 4 - Complete the following statements with the best...Ch. 4 - Complete the following statements with the best...Ch. 4 - Prob. 23CQCh. 4 - Selecting a Card When a card is drawn from a deck,...Ch. 4 - Selecting a Sweater At a mens clothing store, 12...Ch. 4 - Prob. 26CQCh. 4 - Appliance Ownership The probability that a person...Ch. 4 - Starting Salaries Of the physics graduates of a...Ch. 4 - Prob. 29CQCh. 4 - Scholarships The probability that Samantha will be...Ch. 4 - Prob. 31CQCh. 4 - Prob. 32CQCh. 4 - Work and Weather The probability that Mike has to...Ch. 4 - Education of Factory Employees At a large factory,...Ch. 4 - Heart Attacks In a certain high-risk group, the...Ch. 4 - Rolling a Die A single die is rolled 4 times. Find...Ch. 4 - Prob. 37CQCh. 4 - Singer Selection How many ways can 5 sopranos and...Ch. 4 - Speaker Selection How many different ways can 8...Ch. 4 - Stocking Machines A soda machine servicer must...Ch. 4 - ID Cards One companys ID cards consist of 5...Ch. 4 - Prob. 42CQCh. 4 - Prob. 43CQCh. 4 - Prob. 44CQCh. 4 - Prob. 45CQCh. 4 - Cruise Ship Activities A cruise director schedules...Ch. 4 - Prob. 47CQCh. 4 - Prob. 48CQCh. 4 - Toy Display A toy store manager wants to display 7...Ch. 4 - Commercial Order A local television station must...Ch. 4 - Prob. 1CTCCh. 4 - Prob. 2CTCCh. 4 - Prob. 3CTCCh. 4 - Prob. 4CTCCh. 4 - Prob. 4DP
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