Essentials of Statistics for Business and Economics (with XLSTAT Printed Access Card)
8th Edition
ISBN: 9781337114172
Author: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Concept explainers
Videos
Textbook Question
Chapter 6, Problem 43SE
The port of South Louisiana, located along 54 miles of the Mississippi River between New Orleans and Baton Rouge, is the largest bulk cargo port in the world. The U.S. Army Corps of Engineers reports that the port handles a
- a. What is the
probability that the port handles less than 5 million tons of cargo per week? - b. what is the probability that the port handles 3 or more million tons of cargo per week?
- c. What is the probability that the port handles between 3 million and 4 million tons of cargo per week?
- d. Assume that 85% of the time the port can handle the weekly cargo volume without extending operating hours. What is the number of tons of cargo per week that will require the port to extend its operating hours?
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
30. An individual who has automobile insurance from a certain company is randomly selected. Let Y be the num- ber of moving violations for which the individual was cited during the last 3 years. The pmf of Y isy | 1 2 4 8 16p(y) | .05 .10 .35 .40 .10
a.Compute E(Y).b. Suppose an individual with Y violations incurs a surcharge of $100Y^2. Calculate the expected amount of the surcharge.
24. An insurance company offers its policyholders a num- ber of different premium payment options. For a ran- domly selected policyholder, let X = the number of months between successive payments. The cdf of X is as follows:
F(x)=0.00 : x < 10.30 : 1≤x<30.40 : 3≤ x < 40.45 : 4≤ x <60.60 : 6≤ x < 121.00 : 12≤ x
a. What is the pmf of X?b. Using just the cdf, compute P(3≤ X ≤6) and P(4≤ X).
59. At a certain gas station, 40% of the customers use regular gas (A1), 35% use plus gas (A2), and 25% use premium (A3). Of those customers using regular gas, only 30% fill their tanks (event B). Of those customers using plus, 60% fill their tanks, whereas of those using premium, 50% fill their tanks.a. What is the probability that the next customer will request plus gas and fill the tank (A2 B)?b. What is the probability that the next customer fills the tank?c. If the next customer fills the tank, what is the probability that regular gas is requested? Plus? Premium?
Chapter 6 Solutions
Essentials of Statistics for Business and Economics (with XLSTAT Printed Access Card)
Ch. 6.1 - The random variable x is known to be uniformly...Ch. 6.1 - The random variable x is known to be uniformly...Ch. 6.1 - Cincinnati to Tampa Flight Time. Delta Airlines...Ch. 6.1 - Excel RAND Function. Most computer languages...Ch. 6.1 - In October 2012, Apple introduced a much smaller...Ch. 6.1 - A Gallup Daily Tracking Survey found that the mean...Ch. 6.1 - 7. Suppose we are interested in bidding on a piece...Ch. 6.2 - 8. Using Figure 6.4 as a guide, sketch a normal...Ch. 6.2 - A random variable is normally distributed with a...Ch. 6.2 - Draw a graph for the standard normal distribution....
Ch. 6.2 - Given that z is a standard normal random variable,...Ch. 6.2 - Given that z is a standard normal random variable,...Ch. 6.2 - 13. Given that z is a standard normal random...Ch. 6.2 - Given that z is a standard normal random variable,...Ch. 6.2 - Given that z is a standard normal random variable,...Ch. 6.2 - Given that z is a standard normal random variable,...Ch. 6.2 - 17. The mean cost of domestic airfares in the...Ch. 6.2 - The average return for large-cap domestic stock...Ch. 6.2 - Automobile Repair Costs. Automobile repair costs...Ch. 6.2 - Gasoline Prices. Suppose that the average price...Ch. 6.2 - Mensa Membership. A person must score in the upper...Ch. 6.2 - Television Viewing. Suppose that the mean daily...Ch. 6.2 - Time to Complete Final Exam. The time needed to...Ch. 6.2 - Labor Day Travel Costs. The American Automobile...Ch. 6.2 - 25. New York City is the most expensive city in...Ch. 6.3 - A binomial probability distribution has p=.20 and...Ch. 6.3 - Assume a binomial probability distribution has p =...Ch. 6.3 - Prob. 28ECh. 6.3 - Prob. 29ECh. 6.3 - 30. Playing video and computer games is very...Ch. 6.3 - Prob. 31ECh. 6.4 - Consider the following exponential probability...Ch. 6.4 - 33. Consider the following exponential probability...Ch. 6.4 - 34. Battery life between charges for the Motorola...Ch. 6.4 - 35. The time between arrivals of vehicles at a...Ch. 6.4 - Prob. 36ECh. 6.4 - Prob. 37ECh. 6.4 - 38. The Boston Fire Department receives 911 calls...Ch. 6 - 39. A business executive, transferred from Chicago...Ch. 6 - NCAA Scholarships. The NCAA estimates that the...Ch. 6 - Production Defects. Motorola used the normal...Ch. 6 - 42. During early 2012, economic hardship was...Ch. 6 - 43. The port of South Louisiana, located along 54...Ch. 6 - Service Contract Offer. Ward Doering Auto Sales is...Ch. 6 - The XO Group Inc. conducted a survey of 13,000...Ch. 6 - College Admissions Test Scores. Assume that the...Ch. 6 - 47. According to the National Association of...Ch. 6 - 48. A machine fills containers with a particular...Ch. 6 - Prob. 49SECh. 6 - Playing Blackjack. A blackjack player at a Las...Ch. 6 - Mean Time Between Failures. The mean time between...Ch. 6 - Prob. 52SECh. 6 - Do you dislike waiting in line? Supermarket chain...Ch. 6 - Prob. 54SE
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.Similar questions
- 38. Possible values of X, the number of components in a system submitted for repair that must be replaced, are 1, 2, 3, and 4 with corresponding probabilities .15, .35, .35, and .15, respectively. a. Calculate E(X) and then E(5 - X).b. Would the repair facility be better off charging a flat fee of $75 or else the amount $[150/(5 - X)]? [Note: It is not generally true that E(c/Y) = c/E(Y).]arrow_forward74. The proportions of blood phenotypes in the U.S. popula- tion are as follows:A B AB O .40 .11 .04 .45 Assuming that the phenotypes of two randomly selected individuals are independent of one another, what is the probability that both phenotypes are O? What is the probability that the phenotypes of two randomly selected individuals match?arrow_forward53. A certain shop repairs both audio and video compo- nents. Let A denote the event that the next component brought in for repair is an audio component, and let B be the event that the next component is a compact disc player (so the event B is contained in A). Suppose that P(A) = .6 and P(B) = .05. What is P(BA)?arrow_forward
- 26. A certain system can experience three different types of defects. Let A;(i = 1,2,3) denote the event that the sys- tem has a defect of type i. Suppose thatP(A1) = .12 P(A) = .07 P(A) = .05P(A, U A2) = .13P(A, U A3) = .14P(A2 U A3) = .10P(A, A2 A3) = .011Rshelfa. What is the probability that the system does not havea type 1 defect?b. What is the probability that the system has both type 1 and type 2 defects?c. What is the probability that the system has both type 1 and type 2 defects but not a type 3 defect? d. What is the probability that the system has at most two of these defects?arrow_forwardThe following are suggested designs for group sequential studies. Using PROCSEQDESIGN, provide the following for the design O’Brien Fleming and Pocock.• The critical boundary values for each analysis of the data• The expected sample sizes at each interim analysisAssume the standardized Z score method for calculating boundaries.Investigators are evaluating the success rate of a novel drug for treating a certain type ofbacterial wound infection. Since no existing treatment exists, they have planned a one-armstudy. They wish to test whether the success rate of the drug is better than 50%, whichthey have defined as the null success rate. Preliminary testing has estimated the successrate of the drug at 55%. The investigators are eager to get the drug into production andwould like to plan for 9 interim analyses (10 analyzes in total) of the data. Assume thesignificance level is 5% and power is 90%.Besides, draw a combined boundary plot (OBF, POC, and HP)arrow_forwardPlease provide the solution for the attached image in detailed.arrow_forward
- 20 km, because GISS Worksheet 10 Jesse runs a small business selling and delivering mealie meal to the spaza shops. He charges a fixed rate of R80, 00 for delivery and then R15, 50 for each packet of mealle meal he delivers. The table below helps him to calculate what to charge his customers. 10 20 30 40 50 Packets of mealie meal (m) Total costs in Rands 80 235 390 545 700 855 (c) 10.1. Define the following terms: 10.1.1. Independent Variables 10.1.2. Dependent Variables 10.2. 10.3. 10.4. 10.5. Determine the independent and dependent variables. Are the variables in this scenario discrete or continuous values? Explain What shape do you expect the graph to be? Why? Draw a graph on the graph provided to represent the information in the table above. TOTAL COST OF PACKETS OF MEALIE MEAL 900 800 700 600 COST (R) 500 400 300 200 100 0 10 20 30 40 60 NUMBER OF PACKETS OF MEALIE MEALarrow_forwardLet X be a random variable with support SX = {−3, 0.5, 3, −2.5, 3.5}. Part ofits probability mass function (PMF) is given bypX(−3) = 0.15, pX(−2.5) = 0.3, pX(3) = 0.2, pX(3.5) = 0.15.(a) Find pX(0.5).(b) Find the cumulative distribution function (CDF), FX(x), of X.1(c) Sketch the graph of FX(x).arrow_forwardA well-known company predominantly makes flat pack furniture for students. Variability with the automated machinery means the wood components are cut with a standard deviation in length of 0.45 mm. After they are cut the components are measured. If their length is more than 1.2 mm from the required length, the components are rejected. a) Calculate the percentage of components that get rejected. b) In a manufacturing run of 1000 units, how many are expected to be rejected? c) The company wishes to install more accurate equipment in order to reduce the rejection rate by one-half, using the same ±1.2mm rejection criterion. Calculate the maximum acceptable standard deviation of the new process.arrow_forward
- 5. Let X and Y be independent random variables and let the superscripts denote symmetrization (recall Sect. 3.6). Show that (X + Y) X+ys.arrow_forward8. Suppose that the moments of the random variable X are constant, that is, suppose that EX" =c for all n ≥ 1, for some constant c. Find the distribution of X.arrow_forward9. The concentration function of a random variable X is defined as Qx(h) = sup P(x ≤ X ≤x+h), h>0. Show that, if X and Y are independent random variables, then Qx+y (h) min{Qx(h). Qr (h)).arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw Hill
Big Ideas Math A Bridge To Success Algebra 1: Stu...AlgebraISBN:9781680331141Author:HOUGHTON MIFFLIN HARCOURTPublisher:Houghton Mifflin Harcourt
Glencoe Algebra 1, Student Edition, 9780079039897...
Algebra
ISBN:9780079039897
Author:Carter
Publisher:McGraw Hill
Big Ideas Math A Bridge To Success Algebra 1: Stu...
Algebra
ISBN:9781680331141
Author:HOUGHTON MIFFLIN HARCOURT
Publisher:Houghton Mifflin Harcourt
Statistics 4.1 Point Estimators; Author: Dr. Jack L. Jackson II;https://www.youtube.com/watch?v=2MrI0J8XCEE;License: Standard YouTube License, CC-BY
Statistics 101: Point Estimators; Author: Brandon Foltz;https://www.youtube.com/watch?v=4v41z3HwLaM;License: Standard YouTube License, CC-BY
Central limit theorem; Author: 365 Data Science;https://www.youtube.com/watch?v=b5xQmk9veZ4;License: Standard YouTube License, CC-BY
Point Estimate Definition & Example; Author: Prof. Essa;https://www.youtube.com/watch?v=OTVwtvQmSn0;License: Standard Youtube License
Point Estimation; Author: Vamsidhar Ambatipudi;https://www.youtube.com/watch?v=flqhlM2bZWc;License: Standard Youtube License