Reference no: EM131693373
Question 1 - Given the probability function R(x) = 0.2 for x = 0, 1, 2, 3, 4, find the mean and standard deviation.
Question 2 - The number of children living per household, x, in the United States in 2008 is expressed as a probability distribution here.
x
|
0
|
1
|
2
|
3
|
4
|
5+
|
P(x)
|
0.209
|
0.384
|
0.249
|
0.106
|
0.032
|
0.020
|
SOURCE: U.S. Census Bureau
a. Is this a discrete probability distribution? Explain.
b. Draw a histogram for the distribution of x, the number of children per household.
c. Replacing "5+" with exactly "5," find the mean and standard deviation.
Question 3 - Is a dog man's best friend? One would think so with 60 million pet dogs nationwide. But how many friends are needed? In the American Pet Products Association's 2007-2008 National Pet Owners Survey, the following statistics were reported.
Number of Pet Dogs
|
Percentage
|
One
|
63
|
Two
|
25
|
Three or more
|
12
|
SOURCE: APPA 2007-2008 National Pet Owners Survey
a. Is this a discrete probability distribution? Explain.
b. Draw a relative frequency histogram to depict the results shown in the table.
c. Replacing the category "three or more" with exactly "three," find the mean and standard deviation of the number of pet dogs per household.
d. How do you interpret the mean?
e. Explain the effect that replacing the category "three or more" with "three" had on the mean and standard deviation.
Question 4 - As reported at the beginning of the chapter, Americans are in love with the automobile - the majority have more than one vehicle per household. In fact, the national average is 2.28 vehicles per household. The number of vehicles per household in the United States can be described as follows:
Vehicles, x
|
P(x)
|
1
|
0.34
|
2
|
0.31
|
3
|
0.22
|
4
|
0.06
|
5
|
0.03
|
6
|
0.02
|
7
|
0.01
|
8 or more
|
0.01
|
a. Replacing the category "8 or more" with exactly "8," find the mean and standard deviation of the number of vehicles per household in the United States.
b. How does the mean calculated in part (a) correspond to the national average of 2.28?
c. Explain the effect that replacing the category "8 or more" with "8" had on the mean and standard deviation.
Question 5 - The random variable A has the following probability distribution:
A
|
1
|
2
|
3
|
4
|
5
|
P(A)
|
0.6
|
0.1
|
0.1
|
0.1
|
0.1
|
a. Find the mean and standard deviation of A.
b. How much of the probability distribution is within 2 standard deviations of the mean?
c. What is the probability that A is between μ - 2σ and μ + 2σ?
What is the firm expected rate of return
: Bloome Co.'s stock has a 25% chance of producing a 41% return, a 50% chance of producing a 7% return, and a 25% chance of producing a -6% return.
|
Explain how the questionnaire is designed to be used
: Explain how the questionnaire is designed to be used (telephone, email, face-to-face etc.) and what measures you will put in place to minimize errors.
|
Modeled the stock of storm
: An analyst has modeled the stock of Storm using a three-factor APT model. The risk-free rate is 4%, the expected return on the first factor is 14%
|
Define advantage of peoples use of availability heuristic
: Describe at least two ways you could take advantage of people's use of the availability heuristic to boost sales
|
Find the mean and standard deviation
: Given the probability function R(x) = 0.2 for x = 0, 1, 2, 3, 4, find the mean and standard deviation. Draw a relative frequency histogram to depict the results
|
What was its return on invested capital
: What was its return on invested capital (ROIC) in percent?
|
What is the initial cost figure gold
: What is the initial cost figure Gold should use when evaluating its project? (Round answer to 2 decimal places. Do not round intermediate calculations).
|
What are the advantages of internet-based survey research
: What are the advantages of Internet-based survey research over traditional survey research
|
Provide a brief description of the selected manuscript
: Provide a brief description of the selected manuscript. Identify the selection criteria and methods, and discuss how they relate to the needs of organization.
|