Question 1

$$\text { TABLE 5-8 }$$ 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 70% of the production lines and Design B for the remaining production lines, what is the expected profit?

Accepted Answer

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

Question 2

TABLE 5-2
A certain type of new business succeeds 60% of the time. Suppose that 3 such businesses open (where they do not compete with each other, so it is reasonable to believe that their relative successes would be independent).
-Referring to Table 5-2, the probability that at least 1 business succeeds is ____.

Accepted Answer

The answer of TABLE 5-2
A certain type of new business...

Question 3

Suppose that past history shows that 60% of college students prefer Brand C cola. A sample of 5 students is to be selected. The average number that you would expect to prefer brand C is _____ .

Accepted Answer

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

Question 4

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 70% 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 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 90% of the production lines and Design B for the remaining production lines, what is the risk of your investment?

Accepted Answer

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

Question 6

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 1 prefers brand C is_____

Accepted Answer

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

Question 7

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 at least 1 prefers brand C is_____

Accepted Answer

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

Question 8

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
1.. You have 2 such alarms in your home and they operate independently.
-Referring to Table 5-1, the probability that both sound an alarm in the presence of smoke is____

Accepted Answer

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

Question 9

$\text { TABLE 5-5 }$ 
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, at most 2 of the cars have defective radios?

Accepted Answer

The answer of $\text { TABLE 5-5 }$ 
From an...

Question 10

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 at most 2 prefer brand C is_____

Accepted Answer

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

Question 11

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, what is the standard deviation of your profit when Design A is chosen?

Accepted Answer

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

Question 12

$\text { TABLE 5-7 }$
 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 }$
$\begin{array}{l}
\begin{array} { c| c c } 
\text { Prob ability}& \text { Neighb or hood A}&\text {  Neighb or hood B } \
\hline .25 & - \$ 22,500 & \$ 30,500 \
.40 & \$ 10,000 & \$ 25,000 \
.35 & \$ 40,500 & \$ 10,500
\end{array}
\end{array}$

-Referring to Table 5-7, what is the variance of the gain in value for the house in neighborhood A?

Accepted Answer

The answer of $\text { TABLE 5-7 }$
 There are...

Question 13

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 probability of at least 1 accident is _____.

Accepted Answer

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

Question 14

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 }$
$\begin{array}{l}
\begin{array} { c| c c } 
\text { Prob ability}& \text { Neighb or hood A}&\text {  Neighb or hood B } \
\hline .25 & - \$ 22,500 & \$ 30,500 \
.40 & \$ 10,000 & \$ 25,000 \
.35 & \$ 40,500 & \$ 10,500
\end{array}
\end{array}$

-Referring to Table 5-7, what is the expected value gain for the house in neighborhood A?

Accepted Answer

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

Question 15

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 precisely half of the members will be women?

Accepted Answer

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

Question 16

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 less than 5.0 or more than 8.0 chip parts.

Accepted Answer

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

Question 17

The number of 911 calls in Butte, Montana, has a Poisson distribution with a mean of 10 calls a day. The probability of seven or eight 911 calls in a day is _____.

Accepted Answer

The answer of The number of 911 calls in Butte,...

Question 18

The number of 911 calls in Butte, Montana, has a Poisson distribution with a mean of 10.0 calls a day. The standard deviation of the number of 911 calls in a day is _____.

Accepted Answer

The answer of The number of 911 calls in Butte,...

Question 19

$\text { TABLE 5-7 }$
 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 }$
$\begin{array}{l}
\begin{array} { c| c c } 
\text { Prob ability}& \text { Neighb or hood A}&\text {  Neighb or hood B } \
\hline .25 & - \$ 22,500 & \$ 30,500 \
.40 & \$ 10,000 & \$ 25,000 \
.35 & \$ 40,500 & \$ 10,500
\end{array}
\end{array}$

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

Accepted Answer

The answer of $\text { TABLE 5-7 }$
 There are...

Question 20

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 expected number of times she will be audited is_____ .

Accepted Answer

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

Quiz 5: Some Important Discrete Probability Distributions

Suppose that past history shows that 60% of college students prefer Brand C cola. A sample of 5 students is to be selected. The average number that you would expect to prefer brand C 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 1 prefers brand C 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 at least 1 prefers brand C 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 at most 2 prefer brand C is_____

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 precisely half of the members will be women?

The number of 911 calls in Butte, Montana, has a Poisson distribution with a mean of 10 calls a day. The probability of seven or eight 911 calls in a day is _____.

The number of 911 calls in Butte, Montana, has a Poisson distribution with a mean of 10.0 calls a day. The standard deviation of the number of 911 calls in a day 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 expected number of times she will be audited is_____ .