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Statistics for Business and Economics Study Set 4
Quiz 4: Random Variables and Probability Distributions
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Question 101
Multiple Choice
A certain baseball player hits a home run in 3% of his at-bats. Consider his at-bats as independent events. How many home runs do we expect the baseball player to hit in 600 at-bats?
Question 102
Multiple Choice
The amount of soda a dispensing machine pours into a 12-ounce can of soda follows a normal distribution with a mean of 12.30 ounces and a standard deviation of 0.20 ounce. Each can holds a maximum of 12.50 ounces of soda. Every can that has more than 12.50 ounces of soda poured into it Causes a spill and the can must go through a special cleaning process before it can be sold. What is the probability that a randomly selected can will need to go through this process?
Question 103
Essay
It is against the law to discriminate against job applicants because of race, religion, sex, or age. Of the individuals who apply for an accountant's position in a large corporation, 38 are over 45 years old. If the company decides to choose 88 of a very large number of applicants for closer credential screening, claiming that the selection will be random and not age-biased, what is the
z
z
z
-value associated with fewer than 42 of those chosen being over 45 years old? (Assume that the applicant pool is large enough so that
x
x
x
, the number in the sample over 45 years old, has a binomial probability distribution.)
Question 104
Essay
Explain why the following is or is not a valid probability distribution for the discrete random variable x.
x
0
2
4
6
8
p
(
x
)
−
.
1
.
1
.
2
.
3
.
5
\begin{array} { | c | c | c | c | c | c | } \hline x & 0 & 2 & 4 & 6 & 8 \\\hline p ( x ) & - .1 & .1 & .2 & .3 & .5 \\\hline\end{array}
x
p
(
x
)
0
−
.1
2
.1
4
.2
6
.3
8
.5
Question 105
Essay
The rate of return for an investment can be described by a normal distribution with and standard deviation 3%. What is the probability that the rate of return for the investment will be at least 43.5%?