APPLIED STAT.IN BUS.+ECONOMICS
6th Edition
ISBN: 9781259957598
Author: DOANE
Publisher: RENT MCG
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Chapter 6.4, Problem 20SE
(a)
To determine
Find the value of
(b)
To determine
Find the value of probability for particular case.
(c)
To determine
Find the value of probability for particular case.
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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
APPLIED STAT.IN BUS.+ECONOMICS
Ch. 6.1 - Which of the following could not be probability...Ch. 6.1 - On hot, sunny, summer days, Jane rents inner tubes...Ch. 6.1 - On the midnight shift, the number of patients with...Ch. 6.2 - On hot, sunny, summer days, Jane rents inner tubes...Ch. 6.2 - On the midnight shift, the number of patients with...Ch. 6.2 - Pepsi and Mountain Dew products sponsored a...Ch. 6.2 - Student Life Insurance Company wants to offer an...Ch. 6.2 - A lottery ticket has a grand prize of 28 million....Ch. 6.2 - Oxnard Petro Ltd. is buying hurricane insurance...Ch. 6.3 - The number of tickets purchased by an individual...
Ch. 6.3 - Prob. 11SECh. 6.3 - Prob. 12SECh. 6.4 - List the X values that are included in each...Ch. 6.4 - Write the probability of each italicized event in...Ch. 6.4 - Find the mean and standard deviation for each...Ch. 6.4 - Prob. 16SECh. 6.4 - Calculate each binomial probability: a. X = 5, n =...Ch. 6.4 - Calculate each binomial probability: a. X = 2, n =...Ch. 6.4 - Prob. 19SECh. 6.4 - Prob. 20SECh. 6.4 - Prob. 21SECh. 6.4 - Calculate each binomial probability: a. Fewer than...Ch. 6.4 - In the Ardmore Hotel, 20 percent of the customers...Ch. 6.4 - Historically, 5 percent of a mail-order firms...Ch. 6.4 - At a Noodles Company restaurant, the probability...Ch. 6.4 - J.D. Power and Associates says that 60 percent of...Ch. 6.4 - Prob. 27SECh. 6.4 - Police records in the town of Saratoga show that...Ch. 6.5 - Find the mean and standard deviation for each...Ch. 6.5 - Find the mean and standard deviation for each...Ch. 6.5 - Calculate each Poisson probability: a. P(X = 6), ...Ch. 6.5 - Prob. 32SECh. 6.5 - Calculate each compound event probability: a. P(X ...Ch. 6.5 - Calculate each compound event probability: a. P(X ...Ch. 6.5 - Prob. 35SECh. 6.5 - Prob. 36SECh. 6.5 - According to J.D. Power and Associates 2006...Ch. 6.5 - At an outpatient mental health clinic, appointment...Ch. 6.5 - The average number of items (such as a drink or...Ch. 6.5 - (a) Why might the number of yawns per minute by...Ch. 6.5 - Prob. 41SECh. 6.5 - Prob. 42SECh. 6.5 - Prob. 43SECh. 6.5 - Prob. 44SECh. 6.5 - The probability that a passenger's bag will be...Ch. 6.6 - (a) State the values that X can assume in each...Ch. 6.6 - ABC Warehouse has eight refrigerators in stock....Ch. 6.6 - A statistics textbook chapter contains 60...Ch. 6.6 - Fifty employee travel expense reimbursement...Ch. 6.6 - A medical laboratory receives 40 blood specimens...Ch. 6.6 - Prob. 51SECh. 6.6 - Two hundred employee travel expense reimbursement...Ch. 6.6 - A law enforcement agency processes 500 background...Ch. 6.6 - Four hundred automobiles arc to be inspected for...Ch. 6.7 - Find each geometric probability. a. P(X = 5) when ...Ch. 6.7 - In the Ardmore Hotel. 20 percent of the guests...Ch. 6.7 - Prob. 57SECh. 6.8 - The height of a Los Angeles Lakers basketball...Ch. 6.8 - The height of a Los Angeles Lakers basketball...Ch. 6.8 - Prob. 60SECh. 6.8 - Prob. 61SECh. 6 - Define (a) random process, (b) random variable,...Ch. 6 - Without using formulas, explain the meaning of (a)...Ch. 6 - What is the difference between a PDF and a CDF?...Ch. 6 - (a) What are the two parameters of a uniform...Ch. 6 - (a) Describe a Bernoulli experiment and give two...Ch. 6 - Prob. 6CRCh. 6 - (a) What are the parameters of a Poisson...Ch. 6 - In the binomial and Poisson models, why is the...Ch. 6 - (a) When are we justified in using the Poisson...Ch. 6 - Prob. 10CRCh. 6 - When are we justified in using (a) the Poisson...Ch. 6 - Name a situation when we would need the (a)...Ch. 6 - What do Rules 1 and 2 say about transforming a...Ch. 6 - What do Rules 3 and 4 say about sums of several...Ch. 6 - In Rule 5, what does the covariance measure? What...Ch. 6 - The probability that a 30-year-old white male will...Ch. 6 - Prob. 63CECh. 6 - Jane is planning to offer a Groupon for inner tube...Ch. 6 - Prob. 66CECh. 6 - In a certain year, on average 10 percent of the...Ch. 6 - The probability that an American CEO can transact...Ch. 6 - In a certain Kentucky Fried Chicken franchise,...Ch. 6 - In a certain Kentucky Fried Chicken franchise,...Ch. 6 - Write the Excel binomial formula for each...Ch. 6 - Tired of careless spelling and grammar, a company...Ch. 6 - Prob. 73CECh. 6 - Prob. 74CECh. 6 - Prob. 75CECh. 6 - Write the Excel formula for each Poisson...Ch. 6 - A small feeder airline knows that the probability...Ch. 6 - Although television HDTV converters are tested...Ch. 6 - Prob. 79CECh. 6 - There is a 70 percent chance that an airline...Ch. 6 - Lunch customers arrive at a Noodles Company...Ch. 6 - In a major league baseball game, the average is...Ch. 6 - Prob. 83CECh. 6 - In a recent year, potentially dangerous commercial...Ch. 6 - At an outpatient mental health clinic, appointment...Ch. 6 - Prob. 86CECh. 6 - Prob. 87CECh. 6 - Past insurance company audits have found that 2...Ch. 6 - Prob. 89CECh. 6 - In Northern Yellowstone Lake, earthquakes occur at...Ch. 6 - On New Yorks Verrazano Narrows bridge, traffic...Ch. 6 - Leaks occur in a pipeline at a mean rate of 1 leak...Ch. 6 - Prob. 93CECh. 6 - The probability is .03 that a passenger on United...Ch. 6 - Prob. 95CECh. 6 - On average, 2 percent of all persons who are given...Ch. 6 - Prob. 97CECh. 6 - Prob. 99CECh. 6 - The probability that a bakery customer will order...Ch. 6 - Prob. 101CECh. 6 - For patients aged 81 to 90, the probability is .07...Ch. 6 - Prob. 103CECh. 6 - Prob. 104CECh. 6 - Prob. 105CECh. 6 - The Rejuvo Corp. manufactures granite countertop...Ch. 6 - Prob. 107CECh. 6 - Prob. 108CECh. 6 - Prob. 109CECh. 6 - Prob. 110CECh. 6 - Malaprop Ltd. sells two products. Daily sales of...
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- 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
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