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1. Suppose that each day there is a 10% chance of rain and whether or not it rains each day is independent of all the other days.
(a) Calculate the probability that we will have to wait at least 5 days for it to rain for the first time (i.e. at least 4 consecutive non-rainy days before the first rain; i.e., it rains no earlier than the 5th day)
(b) Calculate the expected number of non-rainy days before we get the first day that it rains.
2. The number of seahawk nests in the outskirts of Seattle is expected to average about 8.76 per acre. We will suppose that these nests are placed according to a Poisson distribution.
(a) What is the probability that there will be 7 or 8 nests in an acre?
(b) Let Y be the number of nests counted in 15 acres. What is the expected value of Y?
(c) What is the probability that 115 < Y < 120?
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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