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Chapter 5: Q.5.27 (page 348)
Use the following information to answer the next eight exercises. A distribution is given as
. What is b? What does it represent?
The value of will be and it is the highest value of.
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Suppose that the value of a stock varies each day from with a uniform distribution.
a. Find the probability that the value of the stock is more than .
b. Find the probability that the value of the stock is between role="math" localid="1648188993020" .
c. Find the upper quartile - of all days the stock is above what value? Draw the graph.
d. Given that the stock is greater than , find the probability that the stock is more than .
Suppose that the length of long distance phone calls, measured in minutes, is known to have an exponential distribution with the average length of a call equal to eight minutes.
a. Define the random variable.= ________________.
b. Is continuous or discrete?
c. ________
d. ________
e.________
f. Draw a graph of the probability distribution. Label the axes.
g. Find the probability that a phone call lasts less than nine minutes.
h. Find the probability that a phone call lasts more than nine minutes.
i. Find the probability that a phone call lasts between seven and nine minutes.
j. If phone calls are made one after another, on average, what would you expect the total to be? Why?
Use the following information to answer the next eleven exercises. The age of cars in the staff parking lot of a suburban college is uniformly distributed from six months (0.5 years) to 9.5 years.
Considering only the cars less than 7.5 years old, find the probability that a randomly chosen car in the lot was less than four years old.
a. Sketch the graph, shade the area of interest.
b. Find the probability
Use the following information to answer the next seven exercises. A distribution is given as Find the median.
Use the following information to answer the next ten exercises. A customer service representative must spend different amounts of time with each customer to resolve various concerns. The amount of time spent with each customer can be modeled by the following distribution:
What is m? What does it represent?
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