Reference no: EM131756012

Chapter 5 Homework I -

Part A -

1. For Binomial distribution

a. Provide a statistical definition

b. Provide a formula for calculations

2. Consider a company where 20% of the employees at a company are college graduates.  If a sample of 6 were selected, calculate the probability that exactly 2 employees were college graduates?

Part B -

1. For Poisson distribution

a. Provide a statistical definition

b. Provide a formula for calculations

2. a. Probability is a positive number between ______  and _________

b. Is it possible to have a negative probability?

3. The following chart summarizes daily sales in a 100 day period for a company.

a. Calculate the probability for each sales level per day and total probability

b. Calculate the expected value of daily sales

4. Cars arrive at a toll booth at average rate of 8 every minute.  On any given day, what is the probability that exactly 3 cars arrive in a one minute period?

Chapter 6 Homework II -

Part A -

1. For the Continuous uniform probability distribution

a. Provide a statistical definition.  Include a drawing or picture of this distribution.

b. Define the variables used for calculating continuous uniform probability

c. Provide a formula for calculating probability density

d. Provide a formula for calculating area

e. Provide a formula for calculating the mean (expected value).

2. Production time in Factory A is 15 to 30 minutes to make a widget. 

a. What is the probability that it takes between 20 and 25 minutes to manufacture a widget?

b. What is the probability that it takes between 15 and 25 minutes to manufacture a widget?

3. Find the mean or expected value of production time for the following:

a. Production time in Factory A is 15 to 30 minutes to make a widget.  What is the expected value (mean) production time for Factory A?

b. Production time in Factory B is 10 to 20 minutes to make a widget.  What is the expected value (mean) production time for Factory B?

Part B -

1. For Normal distributions

a. Provide a statistical definition.  Include a drawing or picture of this distribution.

b. Provide properties of a normal distribution (Hint - See page 123)

2. For standard score (z-score)

a. Provide a statistical definition

b. Provide a formula to calculate z-score

c. Define the variables used for calculating a z-score

3. The price of gasoline in Florida is normally distributed with an average price of $2.40 per gallon and a standard deviation of $0.15.  What is the probability that the price of gasoline will be $2.25 or less?  (Hint: Use the Normal tables attached)

4. The price of gasoline in Florida is normally distributed with an average price of $2.40 per gallon and a standard deviation of $0.15.  What is the probability that the price of gasoline will be $2.15 or less?  (Hint: Use the Normal tables attached)

5. The price of gasoline in Florida is normally distributed with an average price of $2.40 per gallon and a standard deviation of $0.15.  What is the probability that the price of gasoline will be between $2.35 and $2.20?  (Hint: Use the Normal tables attached)

6.  The price of gasoline in Florida is normally distributed with an average price of $2.40 per gallon and a standard deviation of $0.15.  What is the probability that the price of gasoline will be between $2.60 and $2.50  (Hint: Use the Normal tables attached)

7. The price of gasoline in Florida is normally distributed with an average price of $2.40 per gallon and a standard deviation of $0.15.  What is the probability that the price of gasoline will be at least (greater than) $2.25?  (Hint: Use the Normal tables attached)

8. The price of gasoline in Florida is normally distributed with an average price of $2.40 per gallon and a standard deviation of $0.15. What is the probability that the price of gasoline will be at least (greater than) $2.50? (Hint: Use the Normal tables attached)