Reference no: EM13975353
1. Why is a random variable said to be "random"?
2. Indicate whether each of the following random variables is discrete or continuous.
a. The diameter of aluminum rods coming off a production line
b. The number of years of schooling employees have completed
c. The Dow Jones Industrial Average
d. The volume of milk purchased during a supermarket visit
3. Indicate whether each of the following random variables is discrete or continuous.
a. The number of drive-through customers at your local McDonald's today
b. The amount spent by all customers at the local McDonald's today
c. The time, as reported by your digital watch
d. The length of a pedestrian's stride
4. The values of x in a discrete probability distribution must be both exhaustive and mutually exclusive. What is meant by these two terms?
5. A discrete random variable can have the values x 5 3, x 5 8, or x 5 10, and the respective probabilities are 0.2, 0.7, and 0.1. Determine the mean, variance, and standard deviation of x.
6. Determine the mean, variance, and standard devia- tion of the following discrete probability distribution:
x 0 1 2
P(x) 0.60 0.30 0.10
7. Determine the mean, variance, and standard deviation of the following discrete probability distribution:
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x
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0
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1
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2
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3
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4
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P(x)
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0.10
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0.30
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0.30
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0.20
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0.10
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Riverside expected profit
: If Laura purchases the flood insurance, what will be Riverside's expected profit next year? Given the results in parts (a) and (b), provide Laura with a recommendation.
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Evaluate ebay fee structure
: Why has eBay succeeded as an online auction marketplace while so many others have failed? Evaluate eBay's fee structure. Is it optimal or could it be improved? Why? How
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Average profit per compact disk sold
: The owner of the music shop pays $5.00 for each compact disk, then prices them at $9.00. During this special promotion, what will be the shop's average profit per compact disk sold?
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Identify the discrete random variable
: Identify the discrete random variable in this situation and determine its expected value.
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Diameter of aluminum rods coming off
: 1. Why is a random variable said to be "random"? 2. Indicate whether each of the following random variables is discrete or continuous. a. The diameter of aluminum rods coming off a production line
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Determine whether r is reflexive and symmetric
: Determine whether the statements are true or false. Prove the statements which are true; note that Venn Diagrams are not proofs - Determine whether R is reflexive, symmetric, antisymmetric, or transitive.
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Persons for crowd control at a local carnival
: A security service employing 10 officers has been asked to provide 3 persons for crowd control at a local carnival. In how many different ways can the firm staff this event?
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What is the intensity of the light at the 2nd half life
: The first half life was calculated to be 9.979305311089 seconds- What is the intensity of the light at the 2nd half life? What is the intensity of the light at the 3rd half life?
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Explain the three strategies of virtual team
: Explain how creating and following an agenda is beneficial. Are there situations in which an agenda is not beneficial? Explain.
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