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a.
Create a
a.
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Answer to Problem 53CE
The probability distribution for the number of travelers who plan their trips within two weeks of departure is as follows:
Number of travelers | Probability |
0 | 0.0001 |
1 | 0.0019 |
2 | 0.0116 |
3 | 0.0418 |
4 | 0.1020 |
5 | 0.1768 |
6 | 0.2234 |
7 | 0.2075 |
8 | 0.1405 |
9 | 0.0676 |
10 | 0.0220 |
11 | 0.0043 |
12 | 0.0004 |
Explanation of Solution
The formula to find the binomial probability is as follows:
Let x denotes the travelers who plan their trips within two weeks of departure.
Here, n=12;
For the number of traveler
Similarly the probability value for the remaining x values is calculated.
Thus, the probability distribution for the number of travelers who plan their trips within two weeks of departure is obtained as follows:
Number of travelers | Probability |
0 | |
1 | |
2 | |
3 | |
4 | |
5 | |
6 | |
7 | |
8 | |
9 | |
10 | |
11 | |
12 |
b.
Compute the mean and standard deviation for the given distribution.
b.
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Answer to Problem 53CE
The mean is 6.24.
The standard deviation is 1.7307.
Explanation of Solution
The mean and standard deviation of the binomial distribution are as follows:
The mean of the distribution is calculated as follows:
Therefore, the mean of the distribution is 6.24.
The standard deviation of the distribution is calculated as follows:
Therefore, the standard deviation of the distribution is 1.7307.
c.
Compute the probability of exactly 5 of the 12 selected business travelers plan their trips within two weeks of departure.
c.
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Answer to Problem 53CE
The probability of exactly 5 of the 12 selected business travelers plan their trips within two weeks of departure is 0.1775.
Explanation of Solution
The probability of exactly 5 of the 12 selected business travelers plan their trips within two weeks of departure is calculated as follows:
Therefore, the probability of exactly 5 of the 12 selected business travelers plan their trips within two weeks of departure is 0.1775.
d.
Compute the probability that 5 or fewer of the 12 selected business travelers plan their trips within two weeks of departure.
d.
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Answer to Problem 53CE
The probability that 5 or fewer of the 12 selected business travelers plan their trips within two weeks of departure is 0.3343.
Explanation of Solution
The probability that 5 or fewer of the 12 selected business travelers plan their trips within two weeks of departure is calculated as follows:
Therefore, the probability that 5 or fewer of the 12 selected business travelers plan their trips within two weeks of departure is 0.3343.
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Chapter 6 Solutions
Statistical Techniques in Business and Economics, 16th Edition
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