+2 +3 X = N( ‚ 2 ) Determining Normal Probabilities Since each pair of values for and represents a different distribution‚ there are an infinite number of possible normal distributions. The number of statistical tables would be limitless if we wished to determine probabilities for all of them. The standard normal distribution z has a mean of 0 and a standard deviation of 1‚ i.e. z = N(0‚1)‚ and provides a basis for computing probabilities for all normal distributions. We must therefore
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What is the utilization rate for this service? b. What is the average downtime for a machine that is broken? c. How many machines are waiting to be serviced at any given time? d. What is the probability that more than one machine is broken and waiting to be repaired or being serviced? ( that is the probability of more than one machine being in the system) 2. ‘Fridaz Car Wash at the UTech Barn’ estimates that dirty cars arrive at the rate of 10 per hour all day Friday. With the Hotters’ Girl crew
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1. A recent issue of Fortune Magazine reported that the following companies had the lowest sales per employee among the Fortune 500 companies. [20 Marks] | |Company |Sales per Employee ($1000s) |Sales Rank | | |Seagate Technology |$42.20 |285 | | |SSMC | 42.19
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$100‚000. If she opens a shop that proves to be unsuccessful she will lose $50‚000. On the other hand‚ If Carla chose not to open her own shop‚ she would have the option of investing in a dress shop being started by her best friend Amanda. The probabilities of Amanda’s shop being successful are the same as Carla’s. Carla would only stand to make $40‚000 if the shop was successful but if it was unsuccessful she would only lose $30‚000. Of course Carla can always do nothing. Draw a decision tree for
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rights of an obesity and high cholesterol lowering drug‚ KL-798 from Kappa Labs. Based on the expected probabilities of success through each product-development phase for this new drug‚ as well as the costs involved‚ the net present value of the project is -$1.16 million and is therefore recommended that Merck passes on the investment. Sensitivity analysis also show that adjusting the probabilities of successfully passing each approval process to more realistic expectations has a drastically negative
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(Master of Business Administration) Subject- Business Statistics Q1. What do you mean by sample survey? What are the different sampling methods? Briefly describe them. Ans. Sample is a finite subset of a population drawn from it to estimate the characteristic of the population. Sampling is a tool which enables us to draw conclusions about characteristics of the population. Survey Sampling describes the process of selecting a sample of elements from a target population in order to conduct
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6. Use Chebyshev ’s theorem to tell the probability that a number lies in the following interval. Round your results to the nearest whole percent. 2) Between 35 and 65 Ans: we have z = (35-50)/6 = -2.5 and z = (65-50)/6 = 2.5 So 35 and 65 lies within 2.5 standard deviation of mean By Chebyshev’s theorem we have the probability as 1 -1/k2 ‚ where k is the standard deviation within which the numbers In this case k = 2.5 So the required probability = 1 -1/2.52 => 0.84 =>at least 84%
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Problems on Regression and Correlation Prepared by: Dr. Elias Dabeet Q1. Dr. Green (a pediatrician) wanted to test if there is a correlation between the number of meals consumed by a child per day (X) and the child weight (Y). Included you will find a table containing the information on 5 of the children. Use the table to answer the following: Child Number of meals consumed per day (X) child weight (Y) X² Y² XY Ahmad 11 8 121 64 88 Ali 16 11 256 121 176 Osama 12 9 144
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information found is as follows: Given the data in the sample of Hamilton County Judges the probability of cases being appealed and reversed in all three different courts is presented below. Common Pleas Court disposed 43‚ 945 total cases. The total number of cases appealed was 1‚762‚ and the total number of cases reversed was 199. In all cases disposed in the Common Pleas Court‚ the probability of cases could be appealed and reversed is： Total reversed cases/ Total appealed cases=
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possibility that it will be the highest bid and acquire the property. In this case‚ Oceanview will wait for 6 months to decide. On the other hand‚ - There is 80% probability that Oceanview will not be the highest bidder and they will not get the property in this case where their deposit will be refunded. - There is 30% probability that there will be referendum for a zoning change being approved. This will result that the 500‚000$ will be considered as a down payment for the property. However
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