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A box contains 10 balls numbered 1,2,...,10. Two balls are selected at random without replacement.
a) Find the probability that the numbers on both balls are odd.b) Find the probability that the sum of numbers on the two selected balls is 3.
If the shop does not want to give more than 1% of its customers a free lube and oil change service, how long should the guarantee be?
What is the probability that of today's 1,100 callers at least 5 received a busy signal? Use the poisson approximation to the binomial.
Provide an example of three events that would be mutually exclusive. Are these events also exhaustive? Then, give an example of three events that would be exhaustive. Are these exhaustive events also mutually exclusive?
Although the rules of probability are just basic facts about percents or proportions, we need to be able to use the language of events and their probabilities.
Investigate the cost of a home mortgage and to determine the monthly payment.
A farmer in Iowa owns 45 acres of land. He is going to plant each acre with wheat or corn. Each acre planted with wheat yields $200 profit, requires 3 workers, and requires 2 tons of fertilizer; each with corn yields $300 profit, requires 2 worker..
When the necessary conditions are met, a two-tail test is being conducted to test the difference between two population proportions.
Find out the expected winnings for a person who buys one ticket.
Compute a 3 month moving average forecast of demand for April through January (of the next year). Compute a 5 month moving average forecast for June through January
Managers at the Dew Drop Inn are concerned about the increasing number of guests who make reservations but fail to show up. They have decided to institute a policy of over-booking like larger hotel chains
If sample of size 10 packages is randomly chosen, and 5 percent rate holds, determine the probability that exactly 2 packages in the sample arrive late?
Can you describe a data set for which one would one would prefer to use the median rather than the mean and can you think of a situation for which the mean would be preferred to the median and the mode?
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