Question 1

Your company's internal auditor believes that 10% of the company's invoices contain errors. To check this theory, 20 invoices are randomly selected and 5 are found to have errors.
-What is the probability that of the 20 invoices written,five or more would contain errors if the theory is valid?

Accepted Answer

The answer of Your company's internal auditor believes that 10%...

Question 2

An important part of the customer service responsibilities of a cable company relates to the speed with which trouble in service can be repaired. Historically, the data show that the likelihood is 0.75 that troubles in a residential service can be repaired on the same day. For the first five troubles reported on a given day, what is the probability that:
-Find the mean number of troubles repaired on the same day

Accepted Answer

The answer of An important part of the customer service...

Question 3

Find the probability that x (number of jobs finished on time)is within one standard deviation of the mean.

Accepted Answer

The answer of Find the probability that x (number of...

Question 4

An important part of the customer service responsibilities of a cable company relates to the speed with which trouble in service can be repaired. Historically, the data show that the likelihood is 0.75 that troubles in a residential service can be repaired on the same day. For the first five troubles reported on a given day, what is the probability that:
-All five will be repaired on the same day?

Accepted Answer

The answer of An important part of the customer service...

Question 5

A courier company has established a record in a major city for delivering 90% of its packages the next working day.
-What is the probability that the number of delivered will be within 2 standard deviations of the mean?

Accepted Answer

The answer of A courier company has established a record...

Question 6

A courier company has established a record in a major city for delivering 90% of its packages the next working day.
-Of the eight,what is the average number you expect to be delivered the next day?

Accepted Answer

The answer of A courier company has established a record...

Question 7

An important part of the customer service responsibilities of a cable company relates to the speed with which trouble in service can be repaired. Historically, the data show that the likelihood is 0.75 that troubles in a residential service can be repaired on the same day. For the first five troubles reported on a given day, what is the probability that:
-Fewer than two troubles will be repaired on the same day?

Accepted Answer

The answer of An important part of the customer service...

Question 8

A large disaster cleaning company estimates that 30% of the jobs it bids on are finished within the bid time. Looking at a random sample of 8 jobs that is has contracted:
-Calculate the probability that exactly 4 of the jobs were not completed within the bid time.

Accepted Answer

The answer of A large disaster cleaning company estimates that...

Question 9

Suppose that of the six randomly selected individuals,3 have group A blood.Based on the probability in question 100,would you believe the data from the state blood program? Why or why not?

Accepted Answer

The answer of Suppose that of the six randomly selected...

Question 10

A large disaster cleaning company estimates that 30% of the jobs it bids on are finished within the bid time. Looking at a random sample of 8 jobs that is has contracted:
-Calculate the mean number of jobs completed within the bid time.

Accepted Answer

The answer of A large disaster cleaning company estimates that...

Question 11

According to data from a federal blood program, 40% of all individuals have type A blood. If six individuals give blood, find the probability
-At least 3 of the individuals have type A blood

Accepted Answer

The answer of According to data from a federal blood...

Question 12

A lawyer believes that the probability is .3 that she can win a discrimination suit.If she wins the case she will make $40,000,but if she loses she gets nothing.Assume that she has to spend $5000 preparing the case.What is her expected gain?

Accepted Answer

The answer of A lawyer believes that the probability is...

Question 13

Would you accept or reject the claim? Explain.

Accepted Answer

The answer of Would you accept or reject the claim?...

Question 14

A car wash loses $30 on rainy days and makes $120 on days when is does not rain.If the probability of rain is 0.15,calculate the car wash's expected profit.

Accepted Answer

The answer of A car wash loses $30 on rainy...

Question 15

A courier company has established a record in a major city for delivering 90% of its packages the next working day.
-Calculate the standard deviation of the number delivered.

Accepted Answer

The answer of A courier company has established a record...

Question 16

An insurance company will insure a $75,000 car for its full value against theft at a premium of $1500 per year. Suppose that the probability that the car will be stolen is 0.0075.
-Calculate the insurance company's expected net profit.

Accepted Answer

The answer of An insurance company will insure a $75,000...

Question 17

Find the premium that the insurance company should charge if it wants its expected net profit to be $2000?
-Find the premium that the insurance company should charge if it wants its expected net profit to be $2000?

Accepted Answer

The answer of Find the premium that the insurance company...

Question 18

A courier company has established a record in a major city for delivering 90% of its packages the next working day.
-If you send eight local packages,what is the probability that all of them will be delivered the next day.

Accepted Answer

The answer of A courier company has established a record...

Question 19

An important part of the customer service responsibilities of a cable company relates to the speed with which trouble in service can be repaired. Historically, the data show that the likelihood is 0.75 that troubles in a residential service can be repaired on the same day. For the first five troubles reported on a given day, what is the probability that:
-At least 3 troubles will be repaired on the same day.

Accepted Answer

The answer of An important part of the customer service...

Question 20

According to data from a federal blood program, 40% of all individuals have type A blood. If six individuals give blood, find the probability
-Find the mean number of individuals having group A blood.

Accepted Answer

The answer of According to data from a federal blood...

Quiz 4: Discrete Random Variables

Your company's internal auditor believes that 10% of the company's invoices contain errors. To check this theory, 20 invoices are randomly selected and 5 are found to have errors. -What is the probability that of the 20 invoices written,five or more would contain errors if the theory is valid?

Find the probability that x (number of jobs finished on time)is within one standard deviation of the mean.

A courier company has established a record in a major city for delivering 90% of its packages the next working day. -What is the probability that the number of delivered will be within 2 standard deviations of the mean?

A courier company has established a record in a major city for delivering 90% of its packages the next working day. -Of the eight,what is the average number you expect to be delivered the next day?

A large disaster cleaning company estimates that 30% of the jobs it bids on are finished within the bid time. Looking at a random sample of 8 jobs that is has contracted: -Calculate the probability that exactly 4 of the jobs were not completed within the bid time.

Suppose that of the six randomly selected individuals,3 have group A blood.Based on the probability in question 100,would you believe the data from the state blood program? Why or why not?

A large disaster cleaning company estimates that 30% of the jobs it bids on are finished within the bid time. Looking at a random sample of 8 jobs that is has contracted: -Calculate the mean number of jobs completed within the bid time.

According to data from a federal blood program, 40% of all individuals have type A blood. If six individuals give blood, find the probability -At least 3 of the individuals have type A blood

A lawyer believes that the probability is .3 that she can win a discrimination suit.If she wins the case she will make $40,000,but if she loses she gets nothing.Assume that she has to spend $5000 preparing the case.What is her expected gain?

Would you accept or reject the claim? Explain.

A car wash loses $30 on rainy days and makes $120 on days when is does not rain.If the probability of rain is 0.15,calculate the car wash's expected profit.

A courier company has established a record in a major city for delivering 90% of its packages the next working day. -Calculate the standard deviation of the number delivered.

An insurance company will insure a $75,000 car for its full value against theft at a premium of $1500 per year. Suppose that the probability that the car will be stolen is 0.0075. -Calculate the insurance company's expected net profit.

Find the premium that the insurance company should charge if it wants its expected net profit to be $2000? -Find the premium that the insurance company should charge if it wants its expected net profit to be $2000?

A courier company has established a record in a major city for delivering 90% of its packages the next working day. -If you send eight local packages,what is the probability that all of them will be delivered the next day.

According to data from a federal blood program, 40% of all individuals have type A blood. If six individuals give blood, find the probability -Find the mean number of individuals having group A blood.