1) Assume Z is a random variable with a standard normal distribution (that is, a mean of µ = 0 and a standard deviation of 1). What is P(Z < -0.5)? How about P(Z > -0.5)? (Section 5.1) 2) Now let’s that assume X is a random variable that has a normal distribution with µ = 100 and a standard deviation of 15. What is P(X > 115)?
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Scores on the ACT college entrance exam follow a Normal distribution with mean 18 and standard deviation 6. Wayne and Clayton are both taking the…
Scores on the ACT college entrance exam follow a Normal distribution with mean 18 and standard deviation 6. Wayne and Clayton are both taking the exam this year. What is closest to the probability that their average score is above 20? You can assume their scores are iid random variables from the population.
The Chamber of Commerce in a Canadian city has conducted an evaluation of 300 restaurants in its metropolitan area.
The Chamber of Commerce in a Canadian city has conducted an evaluation of 300 restaurants in its metropolitan area. Each restaurant received a rating on a 3-point scale on typical meal price (1 least expensive to 3 most expensive) and quality (1 lowest quality to 3 greatest quality). A crosstabulation of the rating data is shown below. Forty-two of the restaurants received a rating of 1 on quality and 1 on meal price, 39 of the restaurants received a rating of 1 on quality and 2 on meal price, and so on. Forty-eight of the restaurants received the highest rating […]
The manager of the commercial mortgage department of a large bank has collected data during the past two years concerning the number of commercial…
The manager of the commercial mortgage department of a large bank has collected data during the past two years concerning the number of commercial mortgages approved per week. The results from these two years (
The probability that a randomly selected 40-year-old male will live to 41 years old is 0.99718 and the probability that a randomly selected…
The probability that a randomly selected 40-year-old male will live to 41 years old is 0.99718 and the probability that a randomly selected 40-year-old female will live to 41 years old is 0.99856 (National Vital Statistics Report, Vol. 48, No. 18) Question 1. A life insurance company has sold insurance policies to 100 40-year-old males. What is the probability that at least one of these males will not live to be 41 years old? Assume that deaths of 40-year-old males are independent. (use 3 decimal places in your answer) Question 2. A life insurance company has sold insurance policies to 100 40-year-old […]
