Chapter 5: Problem 69
What are the conditions that must be satisfied to apply the Poisson probability distribution?
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Chapter 5: Problem 69
What are the conditions that must be satisfied to apply the Poisson probability distribution?
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An Internal Revenue Service inspector is to select 3 corporations from a list of 15 for tax audit purposes. Of the 15 corporations, 6 earned profits and 9 incurred losses during the year for which the tax retums are to be audited. If the IRS inspector decides to select 3 corporations randomly, find the probability that the number of corporations in these 3 that incurred losses during the year for which the tax returns are to be audited is a. exactly 2 b. none c. at most
A high school boys' basketball team averages \(1.2\) technical fouls per game. a. Using the appropriate formula, find the probability that in a given basketball game this team will commit exactly 3 technical fouls. b. Let \(x\) denote the number of technical fouls that this team will commit during a given basketball game. Using the appropriate probabilities table from Appendix \(\mathrm{C}\), write the probability distribution of \(x\).
A high school history teacher gives a 50 -question multiple-choice examination in which each question has four choices. The scoring includes a penalty for guessing. Each correct answer is worth 1 point, and each wrong answer costs \(1 / 2\) point. For example, if a student answers 35 questions correctly, 8 questions incorrectly, and does not answer 7 questions, the total score for this student will be \(35-(1 / 2)(8)=31\) a. What is the expected score of a student who answers 38 questions correctly and guesses on the other 12 questions? Assume that the student randomly chooses one of the four answers for e?ch of the 12 guessed questions. b. Does a student increase his expected score by guessing on a question if he has no idea what the correct answer is? Explain. c. Does a student increase her expected score by guessing on a question for which she can eliminate one of the wrong answers? Explain.
Which of the following are binomial experiments? Explain why. a. Drawing 3 balls with replacement from a box that contains 10 balls, 6 of which are red and 4 are blue, and observing the colors of the drawn balls b. Drawing 3 balls without replacement from a box that contains 10 balls, 6 of which are red and 4 are blue, and observing the colors of the drawn balls c. Selecting a few households from New York City and observing whether or not they own stocks when it is known that \(28 \%\) of all households in New York City own stocks
Based on its analysis of the future demand for its products, the financial department at Tipper Corporation has determined that there is a \(.17\) probability that the company will lose \(\$ 1.2\) million during the next year, a \(.21\) probability that it will lose \(\$ .7\) million, a \(.37\) probability that it will make a profit of \(\$ .9\) million, and a \(.25\) probability that it will make a profit of \(\$ 2.3\) million. a. Let \(x\) be a random variable that denotes the profit earned by this corporation during the next year. Write the probability distribution of \(x\). b. Find the mean and standard deviation of the probability distribution of part a. Give a brief interpretation of the value of the mean.
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