Reference no: EM13101679
1. A Private firm reports that 8% of the 2 million small businesses who apply for loan each year receive special interest rate (usually higher than market rate) because of high riskiness associated with small business. Consider a random sample of 25 small businesses who have recently applied for the loan
a. What is the probability that exactly 1 received a special interest?
b. What is the probability that at least 1 received a special interest rate?
c. What is the probability that at least 2 received a special interest rate?
2. The crop yield for a particular farm in a particular year is typically measured as the amount of the crop produced per acre. For example, cotton is measured in pounds per acre. It has been demonstrated that the normal distribution can be used to characterize crop yields over time. Historical data indicate that next summer's cotton yield for a particular Georgia farmer can be characterized by a normal distribution with mean 1,500 pounds per acre and standard deviation 250. The farm in question will be profitable if it produces at least 1,600 pounds per acre.
a. What is the probability that the farm will lose money next summer?
b. Assuming the same normal distribution is appropriate for describing cotton yield in each of the next two summers. Also assume that the two yields are statistically independent. What is the probability that the farm will lose money for two straight years?
c. What is the probability that the cotton yield falls within 2 standard deviations of 1,500 pounds per acre next summer?
|
Statistical analysis of long distance telephone calls
: A statistical analysis of 1000 long distance telephone calls made from the headquarters of the Bricks and Clicks Computer Corporation indicates that the length of these calls is normally distributed with u=240 seconds and sigma = 40 seconds.
|
|
Thoreau felt which there was a higher law than the law
: Henry David Thoreau felt which war was unjust and therefore refused to pay his taxes when the United States declared war on Mexico.
|
|
Annual interest with payments
: As part of a acquisition the buyer has taken out a $100,000 loan at 12% annual interest with payments of $1,050 per month. The concluding is on July 15
|
|
What is the velocity of the truck relative to the car
: A car is driving directly north on the freeway at a speed of 117 km/h and a truck is leaving the freeway driving 76 km/h in a direction that is 40° west of north. What is the velocity of the truck relative to the car?
|
|
Question on binomial and normal probabilities
: A Private firm reports that 8% of the 2 million small businesses who apply for loan each year receive special interest rate (usually higher than market rate) because of high riskiness associated with small business.
|
|
Explain the leadership orientation of ingvar kamprad
: Using the Leadership Grid and its underlying leader behaviours of concern for results and concern for people, explain the leadership orientation of Ingvar kamprad.
|
|
What is a sequence as well as a series
: What is a sequence as well as a series? What is two real-life methods a sequence or a series can relate to personal life, business or science? Explain how the instances are used
|
|
Define how do the forces acting between the truck and car
: A large truck collides head-on with a small car. The car is severely damaged as a result of the collision. According to Newton's third law, how do the forces acting between the truck and car compare during the collision?
|
|
Compute the volume of sodium hydroxide
: compute the volume of sodium hydroxide that is required to make a buffer with a pH = 5.77.? given that pKa = 4.77. and initial volume of the acid solution = 1.00 Litre.
|