Statistics for Business and Economics
Statistics for Business and Economics
8th Edition
ISBN: 9780132745659
Author: Paul Newbold, William Carlson, Betty Thorne
Publisher: PEARSON
Question
Book Icon
Chapter 5.1, Problem 1E
To determine

Calculate the probability.

Blurred answer
Students have asked these similar questions
The number of orders for installation of a computer information system arriving at an agency per week is a random variable x with the probability distribution . 3 0.10 3, 4, 5, 6, 7, 8, 9 4 0.20 The cumulative probability distribution is 0.1, 0.3, 0.6, 0.8, 0.9, 0.95, 1.0 0.1, 0.2, 0.3, 0.2, 0.1, 0.05, 0.05 0.3, 0.8, 1.5, 1.2, 0.7, 0.4, 0.45 3, 7, 12, 18, 25, 33, 42 5 0.30 6 0.20 7 0.10 8 0.05 9- 0.05
The joint probability distribution of two random variables, Xand Y, is given in the table below. Y=-4 Y--3 Y--1 Y-2 X--4 0.06 0.12 0.17 0.18 X--1 0.00 0.03 0.00 0.21 X-0 0.02 0.01 0.20 0.00 From the information in the table, calculate each of the following probabilities. Round your answers to two decimal places. (If necessary, consult a list of formulas.) (a) Given that Y=-3, compute the probability that X=0. Given that X2 -1, compute the probability that (b) Y2-3.
a) Grace Floral Shop sells several types of roses for all occasions. It is known that 43% of the roses that is sold by Grace Floral Shop are Eden Roses. 12 roses are ordered to put in a bouquet (i) Define the random variable for this situation and list its values (ii) Stating its parameter(s), what is the probability distribution of this variable? (iii)State the conditions that influence your choice of distribution. (iv)Calculate the probability that at most 2 of the roses were Eden Roses. b) The number of telephone calls coming into Grace Floral Shop to place orders averages 3 per minute. (i) Define the random variable in this situation and list its values. (ii) Stating its parameter(s), what is the probability distribution of this variable? (iii)Compute the probability that 5 calls will arrive per minute. (iv)Compute the probability that 3 or more calls will arrive in a 3-minute interval?

Chapter 5 Solutions

Statistics for Business and Economics

Knowledge Booster
Background pattern image
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
Text book image
ENGR.ECONOMIC ANALYSIS
Economics
ISBN:9780190931919
Author:NEWNAN
Publisher:Oxford University Press
Text book image
Principles of Economics (12th Edition)
Economics
ISBN:9780134078779
Author:Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:PEARSON
Text book image
Engineering Economy (17th Edition)
Economics
ISBN:9780134870069
Author:William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:PEARSON
Text book image
Principles of Economics (MindTap Course List)
Economics
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Text book image
Managerial Economics: A Problem Solving Approach
Economics
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Cengage Learning
Text book image
Managerial Economics & Business Strategy (Mcgraw-...
Economics
ISBN:9781259290619
Author:Michael Baye, Jeff Prince
Publisher:McGraw-Hill Education