Reference no: EM132855210
Probability Distributions
1. A survey of Amazon.com shoppers reveals the following probability distribution of the number of books purchased per hit.
X 0 1 2 3 4 5 6 7
P(X) .35 .25 .20 .08 .06 .03 .02 .01
a. What is the probability that an Amazon.com visitor will buy four books?
b. What is the probability that an Amazon.com visitor will buy eight books?
c. What is the probability that an Amazon.com visitor will not buy any books?
d. What is the probability that an Amazon.com visitor will buy at least one book?
2. When parking a car in a downtown parking lot, drivers pay according to the number of hours or parts thereof. The probability distribution of the number of hours that cars are parked has been estimated as follows:
X 1 2 3 4 5 6 7 8
P(X) .24 .18 .13 .10 .07 .04 .04 .20
a. Find the mean and standard deviation of the number of hours that cars are parked in the lot.
b. If the cost of parking is $2.50 per hour, calculate the mean and standard deviation of the amount of revenue each car generates.
3. You have been given the choice of receiving $500 in cash or receiving a gold coin that has a face value of $100. However, the actual value of the gold coin depends upon its gold content. You are told that the coin has a 40% chance of being worth $400, a 30% probability of being worth $900, and a 30% probability of being worth its face value. Basing your decision upon expected value, should you choose the coin?
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What is the z-score of an 19 pound pumpkin
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Find the values of mean and standard deviation
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Assignment on probability distributions
: 1. A survey of Amazon.com shoppers reveals the following probability distribution of the number of books purchased per hit.
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Assignment on advance statistics doctoral
: 5 buildings are separated by the mean of (3,2) in meters and the probability of the building is 0.7 per number of floors. If the tallest building
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