Concept explainers
a.
Find the expected number of guests to accept the invitation.
a.
Answer to Problem 36E
The expected number of guests to accept the invitation is 131.
Explanation of Solution
It is given that
That is,
The mean can be obtained as follows:
Since the number of persons cannot be a decimal value, the expected number of guests to accept the invitation is 131.
b.
Find the standard deviation.
b.
Answer to Problem 36E
The standard deviation is 6.62.
Explanation of Solution
The standard deviation can be obtained as follows:
Therefore, the standard deviation is 6.62.
c.
Find the
c.
Answer to Problem 36E
The probability that 140 or more will accept the invitation is 0. 1086.
Explanation of Solution
The probability that 140 or more will accept the invitation can be obtained as follows:
From Parts (a) & (b),
The value of
Step-by-step procedure to obtain the probability using Excel:
- Click on the Formulas tab in the top menu.
- Select Insert
function , then from category box, select Statistical and below that NORM.DIST. - Click Ok.
- In the dialog box, Enter X value as 139.5, Mean as 131.33, Standard_dev as 6.62, and Cumulative as TRUE.
- Click OK.
Output obtained using EXCEL is represented as follows:
From the above output,
Consider,
Therefore, the probability that 140 or more will accept the invitation is 0.1086.
d.
Find the probability that exactly 140 will accept the invitation.
d.
Answer to Problem 36E
The probability that exactly 140 will accept the invitation is 0. 0256.
Explanation of Solution
The probability that exactly 140 will accept the invitation can be written as follows:
From Part (c),
The value of
Step-by-step procedure to obtain the probability using Excel:
- Click on the Formulas tab in the top menu.
- Select Insert function, then from category box, select Statistical and below that NORM.DIST.
- Click Ok.
- In the dialog box, Enter X value as 140.5, Mean as 131.33, Standard_dev as 6.62, and Cumulative as TRUE.
- Click OK.
Output obtained using EXCEL is represented as follows:
From the above output,
Consider,
Thus, the probability that exactly 150 will accept the invitation is 0.0256.
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Chapter 7 Solutions
Statistical Techniques in Business and Economics, 16th Edition
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