Loose Leaf for Statistical Techniques in Business and Economics
Loose Leaf for Statistical Techniques in Business and Economics
17th Edition
ISBN: 9781260152647
Author: Douglas A. Lind
Publisher: McGraw-Hill Education
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Chapter 6, Problem 23E

a.

To determine

Find the number of problems that is expected to be resolved today.

Find the standard deviation.

a.

Expert Solution
Check Mark

Answer to Problem 23E

The number of problems that is expected to be resolved today is 10.5.

The standard deviation is 1.7748.

Explanation of Solution

Here, n=15; π=0.70.

The expected number of problems to be resolved today is calculated as follows:

μ=nπ=15×0.7=10.5

Therefore, the expected number of problems to be resolved today is 10.5.

The standard deviation is calculated as follows:

σ=nπ(1π)=15×0.7×(10.7)=3.15=1.7748

Therefore, the standard deviation is 1.7748.

b.

To determine

Compute the probability that 10 of the problems can be resolved today.

b.

Expert Solution
Check Mark

Answer to Problem 23E

The probability that 10 of the problems can be resolved today is 0.2061.

Explanation of Solution

The formula to find the binomial probability is as follows:

P(X)=Cnxπx(1π)(nx)where, C is the combination.n is the number of trials.X is the random variable.π is the probability of success.

The probability that 10 of the problems can be resolved today is calculated as follows:

P(x=10)=C1510(0.70)10(10.70)(1510)=15!10!(1510)!×0.7010×0.305=3003×0.0282×0.0024=0.2061

Therefore, the probability that 10 of the problems can be resolved today is 0.2061.

c.

To determine

Compute the probability that 10 or 11 of the problems can be resolved today.

c.

Expert Solution
Check Mark

Answer to Problem 23E

The probability that 10 or 11 of the problems can be resolved today is 0.4247.

Explanation of Solution

The probability that 10 or 11 of the problems can be resolved today is calculated as follows:

P(x=10)+P(x=11)=(C1510(0.70)10(10.70)(1510))+(C1511(0.70)11(10.70)(1511))=(15!10!(1510)!×0.7010×0.305)+(15!11!(1511)!×0.7011×0.304)=(3,003×0.0282×0.0024)+(1,365×0.0198×0.0081)=0.2061+0.2186=0.4247

Therefore, the probability that 10 or 11 of the problems can be resolved today is 0.4247.

d.

To determine

Compute the probability that more than 10 of the problems can be resolved today.

d.

Expert Solution
Check Mark

Answer to Problem 23E

The probability that more than 10 of the problems can be resolved today is 0.5154.

Explanation of Solution

The probability that more than 10 of the problems can be resolved today is calculated as follows:

P(x>10)=P(x=11)+P(x=12)+P(x=13)+P(x=14)+P(x=15)={(C1511(0.70)11(10.70)(1511))+(C1512(0.70)12(10.70)(1512))+(C1513(0.70)13(10.70)(1513))+(C1514(0.70)14(10.70)(1514))+(C1515(0.70)15(10.70)(1515))}=[(15!11!(1511)!×0.7011×0.304)+(15!12!(1512)!×0.7012×0.303)+(15!13!(1513)!×0.7013×0.302)+(15!14!(1514)!×0.7014×0.301)+(15!15!(1515)!×0.7015×0.300)]=0.2186+0.1700+0.0916+0.0305+0.0047=0.5154

Therefore, the probability that more than 10 of the problems can be resolved today is 0.5154.

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Chapter 6 Solutions

Loose Leaf for Statistical Techniques in Business and Economics

Ch. 6 - Ninety-five percent of the employees at the J. M....Ch. 6 - In a binomial situation, n = 4 and = .25....Ch. 6 - In a binomial situation, n = 5 and = .40....Ch. 6 - Prob. 11ECh. 6 - Assume a binomial distribution where n = 5 and =...Ch. 6 - An American Society of Investors survey found 30%...Ch. 6 - Prob. 14ECh. 6 - Prob. 15ECh. 6 - FILE A telemarketer makes six phone calls per hour...Ch. 6 - FILE A recent survey by the American Accounting...Ch. 6 - Prob. 18ECh. 6 - Prob. 4SRCh. 6 - Prob. 19ECh. 6 - In a binomial distribution, n = 12 and = .60....Ch. 6 - FILE In a recent study, 90% of the homes in the...Ch. 6 - FILE A manufacturer of window frames knows from...Ch. 6 - Prob. 23ECh. 6 - Prob. 24ECh. 6 - Prob. 5SRCh. 6 - Prob. 25ECh. 6 - A population consists of 15 items, 10 of which are...Ch. 6 - Prob. 27ECh. 6 - Prob. 28ECh. 6 - Prob. 29ECh. 6 - Prob. 30ECh. 6 - Prob. 6SRCh. 6 - Prob. 31ECh. 6 - Prob. 32ECh. 6 - Prob. 33ECh. 6 - Automobiles arrive at the Elkhart exit of the...Ch. 6 - It is estimated that 0.5% of the callers to the...Ch. 6 - Prob. 36ECh. 6 - Prob. 37CECh. 6 - For each of the following indicate whether the...Ch. 6 - Prob. 39CECh. 6 - Prob. 40CECh. 6 - Prob. 41CECh. 6 - The payouts for the Powerball lottery and their...Ch. 6 - In a recent study, 35% of people surveyed...Ch. 6 - Prob. 44CECh. 6 - An auditor for Health Maintenance Services of...Ch. 6 - Prob. 46CECh. 6 - Prob. 47CECh. 6 - The Bank of Hawaii reports that 7% of its credit...Ch. 6 - Prob. 49CECh. 6 - Prob. 50CECh. 6 - Prob. 51CECh. 6 - Prob. 52CECh. 6 - Prob. 53CECh. 6 - Prob. 54CECh. 6 - Prob. 55CECh. 6 - Prob. 56CECh. 6 - Prob. 57CECh. 6 - Prob. 58CECh. 6 - Prob. 59CECh. 6 - Prob. 60CECh. 6 - Prob. 61CECh. 6 - Prob. 62CECh. 6 - Prob. 63CECh. 6 - Prob. 64CECh. 6 - The National Aeronautics and Space Administration...Ch. 6 - Prob. 66CECh. 6 - Prob. 67CECh. 6 - Prob. 68CECh. 6 - A recent CBS News survey reported that 67% of...Ch. 6 - Prob. 70DACh. 6 - Prob. 71DA
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