Escolar Documentos
Profissional Documentos
Cultura Documentos
1) Let X be a random variable with E(X) = 100 and Var(X) = 15. Find the following.
a)
b)
c)
d)
2) For the following, determine which of the following probability experiments represents a
binomial experiment. If the probability experiment is not a binomial experiment, state
why.
a) A random sample of 15 college seniors is obtained, and the individuals
selected are asked to state their ages.
b) A random sample of 30 cars in a used car lot is obtained, and their mileages
recorded.
c) An experimental drug is administered to 100 randomly selected individuals,
with the number of individuals responding favorably recorded.
d) A poll of 1200 registered voters is conducted in which the respondents are
asked whether they believe Congress should reform Social Security.
e) A basketball player who makes 80% of her free throws is asked to shoot free
throws until she misses. The number of free throw attempts is recorded.
3) The random variable X has a binomial distribution with E(X)=7.5 and Var(X)=5.25. Find
n and p for this distribution [use the formulas for mean and variance].
4) Suppose X is a binomial random variable with n=10 and p=0.2. Feel free to use a
computer to answer the following:
a)
b)
c)
d)
e)
f)
P(X=0)
P(X=2)
P(X<2)
P(X>8)
E(X)
Var(X)
6) A survey on British Social Attitudes asked respondents if they had ever boycotted goods
for ethical reasons (Statesman, January 28, 2008). The survey found that 28% of the
respondents have boycotted goods for ethical reasons.
a) In a sample of six British citizens, what is the probability that two have ever
boycotted goods for ethical reasons?
b) In a sample of six British citizens, what is the probability that at least two
respondents have boycotted goods for ethical reasons?
c) In a sample of ten British citizens, what is the probability that none have
boycotted goods for ethical reasons?
d) In a sample of ten British citizens, what is the expected number of people that
have boycotted goods for ethical reasons?
7) Brandon Lang is a creative entrepreneur who has developed a novelty soap item called
Jackpot to target consumers with a gambling habit. Inside each bar of Jackpot shower
soap is a single rolled-up bill of U.S. currency. The currency (rolled up and sealed in
shrink-wrap) is appropriately inserted into the soap mixture prior to the cutting and
stamping procedure. The distribution of paper currency (per 1000 bars of soap) is given
in the following table.
P ( X = 1 and Y = 1) = 1/ 4 P ( X = 1 and Y = 2) = 1 / 2
P ( X = 2 and Y = 1) = 1 / 8 P ( X = 2 and Y = 2) = 1/ 8
9) A large insurance agency services a number of customers who have purchased both a
homeowner's policy and an automobile policy from the agency. For each type of policy, a
deductible amount must be specified. For an automobile policy, the choices are $100 and
$250, whereas for a homeowner's policy, the choices are 0, $100, and $200. [editorial
note-this problem is a pain-it is a lot of algebra. It is good to do these calculations once
by hand. Feel free to curse while you work on this problem.]
Suppose an individual with both types of policy is selected at random from the agency's
files. Let
X = the deductible amount on the auto policy, and
Y = the deductible amount on the homeowner's policy.
Suppose the following table represents the joint distribution of X and Y:
Y
P(x,y)
X
a)
b)
c)
d)
e)
f)
g)
h)
0
0.05
0.25
100
250
100
0.1
0.05
200
0.3
0.25
10) An investor plans to divide $ 200,000 between two investments. The first yields a certain
profit of 10%, whereas the second yields a profit with expected value 18% and standard
deviation 6%. If the investor divides the money equally between these two investments,
find the mean and standard deviation of the total profit. Assume the correlation between
the two investments is 0.2.
11) The random variable X has probability density function as follows:
12) Delta Airlines quotes a flight time of 2 hours, 5 minutes for its flights from Cincinnati to
Tampa. Suppose we believe that actual flight times are uniformly distributed between 2
hours and 2 hours, 30 minutes.
a. Show the graph of the probability density function for flight times.
b. What is the probability that the flight will be no more than 5 minutes late?
c. What is the probability that the flight will be more than 10 minutes late?
d. What is the expected flight time?
13) For the standard normal random variable Z, compute the following:
a)
b)
c)
d)
e)
f)
g)
P(0 Z 0.73)
P(1.50 Z 0)
P( Z 0.44)
P(1.50 Z 0.40)
P( Z 5.23)
E (3 + 4Z )
Var (4 + 3Z )
14) The time needed to hand stitch a Swoosh soccer ball is normally distributed with mean 41
minutes and standard deviation 3 minutes. If 4 workers start at the same time, what is the
probability that at least one of them will complete their soccer ball in under 44 minutes?
15) The times taken to complete an introduction to business statistics exam have a normal
distribution with a mean of 65 minutes and standard deviation of 7 minutes. There are
150 students who took the exam and students are allowed a total of 75 minutes to take the
exam.
a) What is the chance that Mike finished his exam in 63 to 72 minutes?
b) What is the expected number of students who finished in less than 75 minutes?
c) As some students were not able to finish the exam in time, the instructor allowed
6 more minutes. Given he already spent 75 minutes on the exam, what is the
chance that Chris finished his exam in extended time, that is between 75 and 81
minutes
16) The sum of two independent Uniform(0,1) random variables has an interesting shape.
We will investigate that in this problem.
a) Run the following code in Stata and give us the resulting histograms. Describe the
shape of the histogram. Are you surprised by this shape?
Using the triangle in the picture, calculate the probability that the sum of the two
uniforms is less than 1.5.
c) We are now going to find this probability empirically using the histogram. Run the
following commands in Stata:
generate dummy = (mysum<1.5)
summarize dummy
Is the mean of the dummy variable close to the value you found in part (b)? What
does the mean of the dummy variable represent?