Elementary Statistics 2nd Edition
2nd Edition
ISBN: 9781259724275
Author: William Navidi, Barry Monk
Publisher: McGraw-Hill Education
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Chapter 5.2, Problem 13E
If
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step by step on Microssoft on how to put this in excel and the answers please
Find binomial probability if:
x = 8, n = 10, p = 0.7
x= 3, n=5, p = 0.3
x = 4, n=7, p = 0.6
Quality Control: A factory produces light bulbs with a 2% defect rate. If a random sample of 20 bulbs is tested, what is the probability that exactly 2 bulbs are defective? (hint: p=2% or 0.02; x =2, n=20; use the same logic for the following problems)
Marketing Campaign: A marketing company sends out 1,000 promotional emails. The probability of any email being opened is 0.15. What is the probability that exactly 150 emails will be opened? (hint: total emails or n=1000, x =150)
Customer Satisfaction: A survey shows that 70% of customers are satisfied with a new product. Out of 10 randomly selected customers, what is the probability that at least 8 are satisfied? (hint: One of the keyword in this question is “at least 8”, it is not “exactly 8”, the correct formula for this should be = 1- (binom.dist(7, 10, 0.7,…
Kate, Luke, Mary and Nancy are sharing a cake. The cake had previously been divided into four slices (s1, s2, s3 and s4). What is an example of fair division of the cake
S1
S2
S3
S4
Kate
$4.00
$6.00
$6.00
$4.00
Luke
$5.30
$5.00
$5.25
$5.45
Mary
$4.25
$4.50
$3.50
$3.75
Nancy
$6.00
$4.00
$4.00
$6.00
Chapter 5 Solutions
Elementary Statistics 2nd Edition
Ch. 5.1 - In Exercises 5-8, fill in each blank with the...Ch. 5.1 - In Exercises 5-8, fill in each blank with the...Ch. 5.1 - In Exercises 5-8, fill in each blank with the...Ch. 5.1 - In Exercises 5-8, fill in each blank with the...Ch. 5.1 - In Exercises 9-12, determine whether the statement...Ch. 5.1 - In Exercises 9--12, determine whether the...Ch. 5.1 - In Exercises 9-12, determine whether the statement...Ch. 5.1 - Prob. 12ECh. 5.1 - In Exercises 13-18, assume that a fair die is...Ch. 5.1 - In Exercises 13-18, assume that a fair die is...
Ch. 5.1 - In Exercises 13-18, assume that a fair die is...Ch. 5.1 - In Exercises 13-18, assume that a fair die is...Ch. 5.1 - In Exercises 13-18, assume that a fair die is...Ch. 5.1 - In Exercises 13-18, assume that a fair die is...Ch. 5.1 - A fair coin has probability 0.5 of coming up...Ch. 5.1 - Roulette wheels in Nevada have 38 pockets. They...Ch. 5.1 - In Exercises 21-24, assume that a coin is tossed...Ch. 5.1 - In Exercises 21-24, assume that a coin is tossed...Ch. 5.1 - In Exercises 21-24, assume that a coin is tossed...Ch. 5.1 - In Exercises 21-24, assume that a coin is tossed...Ch. 5.1 - How probable is it? Someone computes the...Ch. 5.1 - Do you know SpongeBob? According to a survey by...Ch. 5.1 - Who will you vote for? In a survey of 500 likely...Ch. 5.1 - Job satisfaction: In a poll conducted by the...Ch. 5.1 - True-false exam: A section of an exam contains...Ch. 5.1 - A coin flip: A coil is tossed twee times. The...Ch. 5.1 - Empirical Method: A coin is tossed 400 times and...Ch. 5.1 - Empirical Method: A die is rolled 600 times. On 85...Ch. 5.1 - Pitching: During a recent season, pitcher Clayton...Ch. 5.1 - More Pitching: During a recent season, pitcher Jon...Ch. 5.1 - Risky drivers: An automobile insurance company...Ch. 5.1 - Prob. 36ECh. 5.1 - Roulette: A Nevada roulette wheel has 38 pockets....Ch. 5.1 - More roulette: Refer to Exercise 37. What is the...Ch. 5.1 - Get an education: The General Social Survey asked...Ch. 5.1 - How many kids? The General Social Survey asked...Ch. 5.1 - Hospital visits: According to Agency for...Ch. 5.1 - Prob. 42ECh. 5.1 - Prob. 43ECh. 5.1 - Prob. 44ECh. 5.1 - Prob. 45ECh. 5.1 - Find the probability: What is the probability that...Ch. 5.1 - Find the probability: What is the probability that...Ch. 5.1 - Prob. 48ECh. 5.1 - Prob. 49ECh. 5.1 - Prob. 50ECh. 5.1 - Prob. 51ECh. 5.2 - In Exercises 5-8, fill in each blank with the...Ch. 5.2 - In Exercises 5-8, fill in each blank with the...Ch. 5.2 - In Exercises 5-8, fill in each blank with the...Ch. 5.2 - In Exercises 5-8, fill in each blank with the...Ch. 5.2 - In Exercises 9-12, determine whether the statement...Ch. 5.2 - In Exercises 9-12, determine whether the statement...Ch. 5.2 - In Exercises 9-12, determine whether the statement...Ch. 5.2 - In Exercises 9-12, determine whether the statement...Ch. 5.2 - If P(A)=0.75,P(B)=0.4, and P(AandB)=0.25, and...Ch. 5.2 - If P(A)=0.45,P(B)=0.7, and P(AandB)=0.65, find...Ch. 5.2 - If P(A)=0.2,P(B)=0.5, and A and B are mutually...Ch. 5.2 - If P(A)=0.7,P(B)=0.1, and A and B are mutually...Ch. 5.2 - If P(A)=0.3,P(B)=0.4, and P(A and B =0.7, are A...Ch. 5.2 - If P(A)=0.5,P(B)=0.4, and P(A and B =0.8, are A...Ch. 5.2 - If P(A)=0.35, find P(AC).Ch. 5.2 - If P(B)=0.6, find P(BC).Ch. 5.2 - If P(AC)=0.27, find P(A).Ch. 5.2 - If P(BC)=0.64, find P(B).Ch. 5.2 - If P(A)=0, find P(AC).Ch. 5.2 - If P(A)=P(AC), find P(A).Ch. 5.2 - In Exercises 25-30, determine whether events A and...Ch. 5.2 - In Exercises 25-30, determine whether events A and...Ch. 5.2 - In Exercises 25-30, determine whether events A and...Ch. 5.2 - In Exercises 25-30, determine whether events A and...Ch. 5.2 - In Exercises 25-30, determine whether events A and...Ch. 5.2 - In Exercises 25-30, determine whether events A and...Ch. 5.2 - In Exercises 31 and 32, find the complements of...Ch. 5.2 - In Exercises 31 and 32, find the complements of...Ch. 5.2 - Traffic lights: A commuter passes through two...Ch. 5.2 - Dice: Two fair dice are rolled. The first die is...Ch. 5.2 - Car repairs: Let E be the event that a new car...Ch. 5.2 - Sick computers: Let V be the event that a computer...Ch. 5.2 - Computer purchases: Out of 800 large purchases...Ch. 5.2 - Visit your local library: On a recent Saturday. a...Ch. 5.2 - How are your grades? In a recent semester at a...Ch. 5.2 - Statistics grades: In a statistics class of 30...Ch. 5.2 - Sick children: There are 25 students in Mrs. Bushs...Ch. 5.2 - Flawed parts: On a certain day, a foundry...Ch. 5.2 - Prob. 43ECh. 5.2 - The following table presents the number of reports...Ch. 5.2 - Add probabilities? In a certain community, 28% of...Ch. 5.2 - Add probabilities? According to the National...Ch. 5.2 - Prob. 47ECh. 5.2 - Prob. 48ECh. 5.3 - In Exercises 7-10, fill in each blank with the...Ch. 5.3 - In Exercises 7-10, fill in each blank with the...Ch. 5.3 - In Exercises 7-10, fill in each blank with the...Ch. 5.3 - In Exercises 7-10, fill in each blank with the...Ch. 5.3 - Prob. 11ECh. 5.3 - Prob. 12ECh. 5.3 - Prob. 13ECh. 5.3 - Prob. 14ECh. 5.3 - Let A and B be events with P(A)=0.4,P(B)=0.7, and...Ch. 5.3 - Let A and B be events with P(A)=0.6,P(B)=0.4, and...Ch. 5.3 - Let A and B be events with P(A)=0.2 and P(B)=0.9....Ch. 5.3 - Let A and B be events with P(A)=0.5 and P(B)=0.7....Ch. 5.3 - Let A and B be events with P(A)=0.8,P(B)=0.1, and...Ch. 5.3 - Let A and B be events with P(A)=0.3,P(B)=0.5, and...Ch. 5.3 - Let A, B, and C be independent events with...Ch. 5.3 - Let A, B, and C be independent events with...Ch. 5.3 - A fair is tossed four times. What is the...Ch. 5.3 - A fair coin is tossed four times. What is the...Ch. 5.3 - A fair die is rolled three times. What is the...Ch. 5.3 - A fair die is rolled three times. What is the...Ch. 5.3 - In Exercises 27-30, assume that a student is...Ch. 5.3 - In Exercises 27-30, assume that a student is...Ch. 5.3 - In Exercises 27-30, assume that a student is...Ch. 5.3 - In Exercises 27-30, assume that a student is...Ch. 5.3 - Let A and B be events with P(A)=0.25,P(B)=0.4, and...Ch. 5.3 - Let A and B be events with P(A)=0.6,P(B)=0.9, and...Ch. 5.3 - Let A and B be events with P(A)=0.4,P(B)=0.5, and...Ch. 5.3 - Let A and B be events with P(A)=0.5,P(B)=0.3, and...Ch. 5.3 - A fair die is rolled three times. What is the...Ch. 5.3 - Prob. 36ECh. 5.3 - Job interview: Seven people, named Anna, Bob,...Ch. 5.3 - Shuffle: Charles has songs on a playlist. Each...Ch. 5.3 - Lets eat: A fast-food restaurant chain has 600...Ch. 5.3 - U.S. senators: The following table displays the...Ch. 5.3 - Genetics: A geneticist is studying two genes. Each...Ch. 5.3 - Quality control: A population of 600 semiconductor...Ch. 5.3 - Stay in school: In a recent school year in the...Ch. 5.3 - Management: The Bureau of Labor Statistics...Ch. 5.3 - GED: In a certain school. the probability that a...Ch. 5.3 - Prob. 46ECh. 5.3 - New car: At a certain car dealership, the...Ch. 5.3 - Prob. 48ECh. 5.3 - Target practice: Laura and Philip each fire one...Ch. 5.3 - Bowling: Sarah and Thomas are going bowling. The...Ch. 5.3 - Defective components: A lot of 10 components...Ch. 5.3 - More defective components: A lot of 1000...Ch. 5.3 - Prob. 53ECh. 5.3 - Multiply probabilities? A traffic light at an...Ch. 5.3 - Lottery: Every day: Jorge buys a lottery ticket....Ch. 5.3 - Car warranty: The a certain make of car will need...Ch. 5.3 - Tic-tac-toe: In the game of tic-tac-toe, fall...Ch. 5.3 - Enter your PIN: The technology consulting company...Ch. 5.3 - Prob. 59ECh. 5.3 - Prob. 60ECh. 5.3 - Prob. 61ECh. 5.3 - Prob. 62ECh. 5.3 - Prob. 63ECh. 5.3 - Prob. 64ECh. 5.3 - Prob. 65ECh. 5.4 - In Exercises 7 and 8, fill in the blank with the...Ch. 5.4 - In Exercises 7 and 8, fill in the blank with the...Ch. 5.4 - Prob. 9ECh. 5.4 - Exercises 9 and 10, determine whether the...Ch. 5.4 - In Exercises 11-16, evaluate the factorial. 9!Ch. 5.4 - In Exercises 11-16, evaluate the factorial. 5!Ch. 5.4 - In Exercises 11-16, evaluate the factorial. 0!Ch. 5.4 - In Exercises 11-16, evaluate the factorial. 12!Ch. 5.4 - In Exercises 11-16, evaluate the factorial. 1!Ch. 5.4 - Prob. 16ECh. 5.4 - In Exercises 17-22, evaluate the permutation. 7P3Ch. 5.4 - In Exercises 17-22, evaluate the permutation. 8P1Ch. 5.4 - In Exercises 17-22, evaluate the permutation....Ch. 5.4 - In Exercises 17-22, evaluate the permutation. 5P4Ch. 5.4 - In Exercises 17-22, evaluate the permutation. 20P0Ch. 5.4 - In Exercises 17-22, evaluate the permutation. 45P5Ch. 5.4 - In Exercises 23-28, evaluate the combination. 9C5Ch. 5.4 - In Exercises 23-28, evaluate the combination. 7C1Ch. 5.4 - Prob. 25ECh. 5.4 - Prob. 26ECh. 5.4 - In Exercises 23-28, evaluate the combination. 12C0Ch. 5.4 - Prob. 28ECh. 5.4 - Pizza time: A local pizza parlor is offering a...Ch. 5.4 - Books: Josephine has chemistry books, three...Ch. 5.4 - Playing the horses: In horseracing, one can make a...Ch. 5.4 - Ice cream: A certain ice cream parlor offers 15...Ch. 5.4 - License plates: In a certain state, license plates...Ch. 5.4 - Committee: The Student Council at a certain school...Ch. 5.4 - Day and night shifts: A company has hired 12 new...Ch. 5.4 - Keep your password safe: A computer password...Ch. 5.4 - Its in your genes: Hunan genetic material ONA) is...Ch. 5.4 - Choosing officers: A committee consists of 10...Ch. 5.4 - Texas hold'em, In the game of Texas hold'em, a...Ch. 5.4 - Blackjack: In single-deck casino blackjack the...Ch. 5.4 - Lottery: In the Georgia Fantasy 5 Lottery, balls...Ch. 5.4 - Prob. 42ECh. 5.4 - Prob. 43ECh. 5 - Fill in the blank: The probability that a fair...Ch. 5 - Prob. 2CQCh. 5 - State each of the following rules: General...Ch. 5 - Prob. 4CQCh. 5 - Prob. 5CQCh. 5 - In a group of 100 teenagers, 61 received their...Ch. 5 - A certain has 100 households. Forty-eight...Ch. 5 - Prob. 8CQCh. 5 - Prob. 9CQCh. 5 - Prob. 10CQCh. 5 - Prob. 11CQCh. 5 - Prob. 12CQCh. 5 - Prob. 13CQCh. 5 - Prob. 14CQCh. 5 - Prob. 15CQCh. 5 - Prob. 1RECh. 5 - Prob. 2RECh. 5 - Statistics, anyone? Let S be the event that a...Ch. 5 - Prob. 4RECh. 5 - Prob. 5RECh. 5 - Prob. 6RECh. 5 - Defective parts: A process manufactures...Ch. 5 - Music to my ears: Jeri is listening to songs on a...Ch. 5 - Prob. 9RECh. 5 - Heart attack: The following table presents the...Ch. 5 - Rainy weekend: Sally is planning to go away for...Ch. 5 - Prob. 12RECh. 5 - Required courses: Refer to Exercise 12. Assume the...Ch. 5 - Bookshelf: Bart has books: a novel, a biography, a...Ch. 5 - Prob. 15RECh. 5 - Prob. 1WAICh. 5 - Prob. 2WAICh. 5 - Prob. 3WAICh. 5 - Prob. 4WAICh. 5 - Sometimes events are in the form at least a given...Ch. 5 - Prob. 6WAICh. 5 - Prob. 7WAICh. 5 - Prob. 8WAICh. 5 - The following table is a life table, reproduced...Ch. 5 - Prob. 2CSCh. 5 - Prob. 3CSCh. 5 - The following table is a life table, reproduced...Ch. 5 - The following table is a life table, reproduced...Ch. 5 - Prob. 6CSCh. 5 - Prob. 7CSCh. 5 - In Exercise 1-5, we computed the probability that...Ch. 5 - Prob. 9CS
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- Several markets (Japan, Switzerland) introduced negative interest rates on their money market. In this problem, we will consider an annual interest rate r < 0. We consider a stock modeled by an N-period CRR model where each period is 1 year (At = 1) and the up and down factors are u and d. (a) We consider an American put option with strike price K and expiration T. Prove that if <0, the optimal strategy is to wait until expiration T to exercise.arrow_forwardWe consider an N-period CRR model where each period is 1 year (At = 1), the up factor is u = 0.1, the down factor is d = e−0.3 and r = 0. We remind you that in the CRR model, the stock price at time tn is modeled (under P) by Sta = So exp (μtn + σ√AtZn), where (Zn) is a simple symmetric random walk. (a) Find the parameters μ and σ for the CRR model described above. (b) Find P Ste So 55/50 € > 1). StN (c) Find lim P 804-N (d) Determine q. (You can use e- 1 x.) Ste (e) Find Q So (f) Find lim Q 004-N StN Soarrow_forwardIn this problem, we consider a 3-period stock market model with evolution given in Fig. 1 below. Each period corresponds to one year. The interest rate is r = 0%. 16 22 28 12 16 12 8 4 2 time Figure 1: Stock evolution for Problem 1. (a) A colleague notices that in the model above, a movement up-down leads to the same value as a movement down-up. He concludes that the model is a CRR model. Is your colleague correct? (Explain your answer.) (b) We consider a European put with strike price K = 10 and expiration T = 3 years. Find the price of this option at time 0. Provide the replicating portfolio for the first period. (c) In addition to the call above, we also consider a European call with strike price K = 10 and expiration T = 3 years. Which one has the highest price? (It is not necessary to provide the price of the call.) (d) We now assume a yearly interest rate r = 25%. We consider a Bermudan put option with strike price K = 10. It works like a standard put, but you can exercise it…arrow_forward
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