What is the expected number of applications

Reference no: EM131370854

A graduating student keeps applying for jobs until she has three offers. The probability of getting an offer at any trial is 0.48.

a. What is the expected number of applications? What is the variance?

b. If she has enough time to complete only six applications, how confident can she be of getting three offers within the available time?

c. If she wants to be at least 95% confident of getting three offers, how many applications should she prepare?

d. Suppose she has time for at most six applications. For what minimum value of p can she still have 95% confidence of getting three offers within the available time?

Reference no: EM131370854

Questions Cloud

What is probability that an aircraft in flight land safely : If the probability of landing safely must be at least 99.5%, what is the minimum value for p? Repeat the question for probability of landing safely to be 99.9%.

Describe how it is calculated and what it shows : Financial ratios can be used to examine the financial health of all healthcare companies. Choose a ratio from the lecture or reading that you found very useful. Describe how it is calculated and what it shows. Explain why you can't use just that o..

What are average return and standard deviation for portfolio : An investment portfolio has equal proportions invested in five stocks.- What are average return and standard deviation for this portfolio?

Natural disaster-what is your ultimate decision : A natural disaster has occurred across the state. Disastrous conditions affect everyone. There will be no power, running water or any assistance until further notice. What is your ultimate decision? Do you give away everything becoming a local hero; ..

What is the expected number of applications : If she has enough time to complete only six applications, how confident can she be of getting three offers within the available time?

At least how many customers should she contact : If the agent has enough time to contact only 15 customers, how confident can she be of selling all four houses within the available time?

Why would it be useful to use in financial analysis : What is vertical analysis? Why would it be useful to use in financial analysis?What is horizontal analysis? Why would it be useful to use in financial analysis?Why are ratios used in financial analysis?How are these three approaches to financial anal..

What is the expected number of applications : What is the expected number of applications? What is the variance?- If she has enough time to complete at most four applications, how confi- dent can she be of getting an offer within the available time?

User Account

All Pages