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Problem:
a. According to a Business week poll of 1035 adults, 40% of those surveyed agreed strongly with the proposition that business has too much power over American life (Business Week, September 2000). Assume this percentage is representative of the true population. In a sample of 10 individuals taken from the population, what is the probability that at least five of these individuals will feel that business has too much power over American life?
b. Suppose phone calls for assistance arrive at a rate of 48 per hour at the complaints desk of a company's after sale service department.
i. Compute the probabilities of receiving exactly 10 calls, 15 calls and 20 calls in 15 minutes.
ii. Suppose no calls are currently on hold. If the agent takes five minutes to complete the current call, how many callers do you expect to be waiting by that time? What is the probability that: (a) none and (b) exactly two will be waiting?
iii. If no calls are currently being processed, what is the probability that the agent can take three minutes for personal time without being interrupted by a call? What is the probability that he will receive only one call during these three minutes?
Modern hotels and certain establishments make use of an electronic door lock system. To open a door an electronic card is inserted into a slot. A green light indicates that the doo
Find the number of different ways in which the 9 letters of the word GREENGAGE can be arranged if exactly two Gs are next to each other?
2. From the following cost, production and sales data of Decors Motor Ltd., prepare comparative income statement for three years under (i) absorption costing method, and (ii) margi
if sales is 6800 and variable costs are 2856 what is the variable cost percentage?
Problem 1 . Let X 0 ;X 1 ;X 2 . . . be a Markov chain with state space f1; 2g and transition probabilities given as follows: p 11 = 0:3; p 12 = 0:7; p 21 = 0:5; p 22 = 0:5:
1. In your own words explain the difference between a point estimate and an interval estimate of a parameter? Which is better? Why? 2. What information is necessary to calculat
Someone tries to increase the magnetic field inside a coil by adding more turns to the coil. Where should he add more turns: to the end of the coil (i.e., to make it longer) or to
A business starts out with a cash balance of £1,000. It then makes the following transactions: Buys inventory on credit for £500 Sells a non-current asset for £100 cash Sells goods
#multiple linear regression of y on x1 & x2 from data relating to 3 variables i.e y=4,6,77,9,13,15 x1=15,12,8,6,4,8 x2=30,24,20,14,10,4
conceptof probality, theoretical, distribution, normal,binomial and poisson
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