Question 1

TABLE 5-7
There are two houses with almost identical characteristics available for investment in two different neighborhoods with drastically different demographic composition. The anticipated gain in value when the houses are sold in 10 years has the following probability distribution:
 $\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\text { Returns }$
$\begin{array}{l}
\begin{array} { c c c } 
\text { Probability}& \text { Neighb or hood A}& \text { Neighb or hood B } \
\hline .25 & - \$ 22,500 & \$ 30,500 \
.40 & \$ 10,000 & \$ 25,000 \
.35 & \$ 40,500 & \$ 10,500
\end{array}
\end{array}$

-Referring to Table 5-7, what is the total variance of value gain if you invest in both houses?

Accepted Answer

The answer of TABLE 5-7
There are two houses with almost...

Question 2

A national trend predicts that women will account for half of all business travelers in the next 3 years. To attract these women business travelers, hotels are providing more amenities that women particularly like. A recent survey of American hotels found that 70% offer hairdryers in the bathrooms. Consider a random and independent sample of 20 hotels. Find the probability that at least 9 of the hotels in the sample do not offer hairdryers in the bathrooms.

Accepted Answer

The answer of A national trend predicts that women will...

Question 3

TABLE 5-8
Two different designs on a new line of winter jackets for the coming winter are available for your manufacturing plants. Your profit (in thousands of dollars) will depend on the taste of the consumers when winter arrives. The probability of the three possible different tastes of the consumers and the corresponding profits are presented in the following table.
 $$\begin{array} { l l c c } 
\hline \text { Probability } & \text { Taste } & \text { Design } A & \text { Design B } \
\hline 0.2 & \text { more conservative } & 180 & 520 \
0.5 & \text { no change } & 230 & 310 \
0.3 & \text { more liberal } & 350 & 270
\end{array}$$

-Referring to Table 5-8, if you decide to choose Design A for 10% of the production lines and Design B for the remaining production lines, what is the coefficient of variation of your investment?

Accepted Answer

The answer of TABLE 5-8
Two different designs on a new...

Question 4

An Undergraduate Study Committee of 6 members at a major university is to be formed from a pool of faculty of 18 men and 6 women. If the committee members are chosen randomly, what is the probability that all of the members will be men?

Accepted Answer

The answer of An Undergraduate Study Committee of 6 members...

Question 5

TABLE 5-8
Two different designs on a new line of winter jackets for the coming winter are available for your manufacturing plants. Your profit (in thousands of dollars) will depend on the taste of the consumers when winter arrives. The probability of the three possible different tastes of the consumers and the corresponding profits are presented in the following table.
 $$\begin{array} { l l c c } 
\hline \text { Probability } & \text { Taste } & \text { Design } A & \text { Design B } \
\hline 0.2 & \text { more conservative } & 180 & 520 \
0.5 & \text { no change } & 230 & 310 \
0.3 & \text { more liberal } & 350 & 270
\end{array}$$

-Referring to Table 5-8, if you decide to choose Design A for 30% of the production lines and Design B for the remaining production lines, what is the expected profit?

Accepted Answer

The answer of TABLE 5-8
Two different designs on a new...

Question 6

The number of power outages at a nuclear power plant has a Poisson distribution with a mean of 6 outages per year. The probability that there will be no more than 1 power outage in a year is ____.

Accepted Answer

The answer of The number of power outages at a...

Question 7

In a game called Taxation and Evasion, a player rolls a pair of dice. If on any turn the sum is 7, 11, or 12, the player gets audited. Otherwise, she avoids taxes. Suppose a player takes 5 turns at rolling the dice. The probability that she does not get audited is ____.

Accepted Answer

The answer of In a game called Taxation and Evasion,...

Question 8

$\text { TABLE 5-3 }$ The following table contains the probability distribution for X = the number of retransmissions necessary to successfully transmit a 1024K data package through a double satellite media.
 $$\begin{array} { c | c c c c } 
X & 0 & 1 & 2 & 3 \
\hline P ( X ) & 0.35 & 0.35 & 0.25 & 0.05
\end{array}$$
-Referring to Table 5-3, the probability of at least one retransmission is____ .

Accepted Answer

The answer of $\text { TABLE 5-3 }$ The following...

Question 9

A debate team of 4 members for a high school will be chosen randomly from a potential group of 15 students. Ten of the 15 students have no prior competition experience while the others have some degree of experience. What is the probability that at most 1 of the members chosen for the team have some prior competition experience?

Accepted Answer

The answer of A debate team of 4 members for...

Question 10

TABLE 5-4
The following table contains the probability distribution for X = the number of traffic accidents reported in a day in Corvallis, Oregon.
 $$\begin{array} { c | c c c c c c } 
\mathrm { X } & 0 & 1 & 2 & 3 & 4 & 5 \
\hline P ( \mathrm { X } ) & 0.10 & 0.20 & 0.45 & 0.15 & 0.05 & 0.05
\end{array}$$
-Referring to Table 5-4, the variance of the number of accidents is____ .

Accepted Answer

The answer of TABLE 5-4
The following table contains the probability...

Question 11

TABLE 5-5
From an inventory of 48 new cars being shipped to local dealerships, corporate reports indicate that 12 have defective radios installed.
-Referring to Table 5-5, what is the probability out of the 8 new cars it just received that, when each is tested, no more than half of the cars have defective radios?

Accepted Answer

The answer of TABLE 5-5
From an inventory of 48 new...

Question 12

The number of power outages at a nuclear power plant has a Poisson distribution with a mean of 6 outages per year. The probability that there will be exactly 3 power outages in a year is _____.

Accepted Answer

The answer of The number of power outages at a...

Question 13

TABLE 5-6
The quality control manager of Marilyn's Cookies is inspecting a batch of chocolate chip cookies. When the production process is in control, the average number of chocolate chip parts per cookie is 6.0.
-Referring to Table 5-6, what is the probability that any particular cookie being inspected has 4.0 chip parts.

Accepted Answer

The answer of TABLE 5-6
The quality control manager of Marilyn's...

Question 14

Suppose that past history shows that 60% of college students prefer Brand C cola. A sample of 5 students is to be selected. The variance of the number that prefer brand C is______

Accepted Answer

The answer of Suppose that past history shows that 60%...

Question 15

The number of power outages at a nuclear power plant has a Poisson distribution with a mean of 6 outages per year. The probability that there will be at least 3 power outages in a year is _____.

Accepted Answer

The answer of The number of power outages at a...

Question 16

TABLE 5-1
The probability that a particular type of smoke alarm will function properly and sound an alarm in the presence of smoke is 0.8. You have 2 such alarms in your home and they operate independently.
-Referring to Table 5-1, the probability that at least one sounds an alarm in the presence of smoke is _____.

Accepted Answer

The answer of TABLE 5-1
The probability that a particular type...

Question 17

Suppose that past history shows that 60% of college students prefer Brand C cola. A sample of 5 students is to be selected. The probability that exactly 3 prefer brand C is_____

Accepted Answer

The answer of Suppose that past history shows that 60%...

Question 18

TABLE 5-7
There are two houses with almost identical characteristics available for investment in two different neighborhoods with drastically different demographic composition. The anticipated gain in value when the houses are sold in 10 years has the following probability distribution:
 $\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\quad $$\text { Returns }$
$\begin{array}{l}
\begin{array} { c| c c } 
\text { Probability}& \text { Neighb or hood A}& \text { Neighb or hood B } \
\hline .25 & - \$ 22,500 & \$ 30,500 \
.40 & \$ 10,000 & \$ 25,000 \
.35 & \$ 40,500 & \$ 10,500
\end{array}
\end{array}$

-Referring to Table 5-7, if you can invest half of your money on the house in neighborhood A and the remaining on the house in neighborhood B, what is the portfolio risk of your investment?

Accepted Answer

The answer of TABLE 5-7
There are two houses with almost...

Question 19

If X has a binomial distribution with n = 4 and p = 0.3, then P(X = 1) = ______ .

Accepted Answer

The answer of If X has a binomial distribution with...

Question 20

$$\text { TABLE 5-8 }$$ Two different designs on a new line of winter jackets for the coming winter are available for your manufacturing plants. Your profit (in thousands of dollars) will depend on the taste of the consumers when winter arrives. The probability of the three possible different tastes of the consumers and the corresponding profits are presented in the following table.
 $$\begin{array} { l l c c } 
\hline \text { Probability } & \text { Taste } & \text { Design } A & \text { Design B } \
\hline 0.2 & \text { more conservative } & 180 & 520 \
0.5 & \text { no change } & 230 & 310 \
0.3 & \text { more liberal } & 350 & 270
\end{array}$$

-Referring to Table 5-8, if you decide to choose Design A for 10% of the production lines and Design B for the remaining production lines, what is the risk of your investment?

Accepted Answer

The answer of $$\text { TABLE 5-8 }$$ Two different...

Quiz 5: Some Important Discrete Probability Distributions

An Undergraduate Study Committee of 6 members at a major university is to be formed from a pool of faculty of 18 men and 6 women. If the committee members are chosen randomly, what is the probability that all of the members will be men?

The number of power outages at a nuclear power plant has a Poisson distribution with a mean of 6 outages per year. The probability that there will be no more than 1 power outage in a year is ____.

In a game called Taxation and Evasion, a player rolls a pair of dice. If on any turn the sum is 7, 11, or 12, the player gets audited. Otherwise, she avoids taxes. Suppose a player takes 5 turns at rolling the dice. The probability that she does not get audited is ____.

The number of power outages at a nuclear power plant has a Poisson distribution with a mean of 6 outages per year. The probability that there will be exactly 3 power outages in a year is _____.

Suppose that past history shows that 60% of college students prefer Brand C cola. A sample of 5 students is to be selected. The variance of the number that prefer brand C is______

The number of power outages at a nuclear power plant has a Poisson distribution with a mean of 6 outages per year. The probability that there will be at least 3 power outages in a year is _____.

Suppose that past history shows that 60% of college students prefer Brand C cola. A sample of 5 students is to be selected. The probability that exactly 3 prefer brand C is_____

If X has a binomial distribution with n = 4 and p = 0.3, then P(X = 1) = ______ .