Exam 5: Discrete Probability Distributions

SCENARIO 5-1 The following table contains the probability distribution for X = the number of retransmissions necessary to successfully transmit a 1024K data package through a network. X 0 1 2 3 P(X) 0.35 0.35 0.25 0.05 -Referring to Scenario 5-1, the standard deviation of the number of retransmissions is ________.

SCENARIO 5-3 There are two houses with almost identical characteristics available for investment in two different neighborhoods with drastically different demographic composition. The anticipated gain in value when the houses are sold in 10 years has the following probability distribution: -Referring to Scenario 5-3, what is the variance of the gain in value for the house in neighborhood B?

What type of probability distribution will the consulting firm most likely employ to analyze the insurance claims in the following problem? An insurance company has called a consulting firm to determine if the company has an Unusually high number of false insurance claims. It is known that the industry proportion for False claims is 3%. The consulting firm has decided to randomly and independently sample 100 of the company's insurance claims. They believe the number of these 100 that are false Will yield the information the company desires.

SCENARIO 5-7 A consulting firm that surveyed consumers' holiday shopping behavior found that the percentage of consumers from the U.S., Canada, and China who said that they planned to spend more on holiday shopping were 40%, 34% and 73%, respectively. The survey also found that the percentage of consumers from the U.S., Canada, and China who said that they were willing to share personal information with retailers in order to receive personalized offers from retailers were 55%, 46% and 72%, respectively. Suppose you randomly select 5 consumers from each of the three countries. -Referring to Scenario 5-7, the probability that more than 4 consumers from the U.S. are willing to share personal information with retailers in order to receive personalized offers from retailers is ________.

SCENARIO 5-1 The following table contains the probability distribution for X = the number of retransmissions necessary to successfully transmit a 1024K data package through a network. X 0 1 2 3 P(X) 0.35 0.35 0.25 0.05 -Referring to Scenario 5-1, the probability of no retransmissions is ________.

SCENARIO 5-2 The following table contains the probability distribution for X = the number of traffic accidents reported in a day in a small city in the Midwest. X 0 1 2 3 4 5 P(X) 0.10 0.20 0.45 0.15 0.05 0.05 -Referring to Scenario 5-2, the standard deviation of the number of accidents is ________.

SCENARIO 5-2 The following table contains the probability distribution for X = the number of traffic accidents reported in a day in a small city in the Midwest. X 0 1 2 3 4 5 P(X) 0.10 0.20 0.45 0.15 0.05 0.05 -Referring to Scenario 5-2, the probability of at least 1 accident is ________.

SCENARIO 5-9 A major hotel chain keeps a record of the number of mishandled bags per 1,000 customers. In a recent year, the hotel chain had 4.06 mishandled bags per 1,000 customers. Assume that the number of mishandled bags has a Poisson distribution. -Referring to Scenario 5-9, what is the probability that in the next 1,000 customers, the hotel chain will have no more than two or at least eight mishandled bags?

SCENARIO 5-7 A consulting firm that surveyed consumers' holiday shopping behavior found that the percentage of consumers from the U.S., Canada, and China who said that they planned to spend more on holiday shopping were 40%, 34% and 73%, respectively. The survey also found that the percentage of consumers from the U.S., Canada, and China who said that they were willing to share personal information with retailers in order to receive personalized offers from retailers were 55%, 46% and 72%, respectively. Suppose you randomly select 5 consumers from each of the three countries. -Referring to Scenario 5-7, the probability that none of the 5 consumers from Canada plan to spend more on holiday shopping is ________.

SCENARIO 5-7 A consulting firm that surveyed consumers' holiday shopping behavior found that the percentage of consumers from the U.S., Canada, and China who said that they planned to spend more on holiday shopping were 40%, 34% and 73%, respectively. The survey also found that the percentage of consumers from the U.S., Canada, and China who said that they were willing to share personal information with retailers in order to receive personalized offers from retailers were 55%, 46% and 72%, respectively. Suppose you randomly select 5 consumers from each of the three countries. -Referring to Scenario 5-7, the probability that at least 3 consumers from Canada plan to spend more on holiday shopping is ________.

In a Poisson distribution, the mean and variance are equal.

The number of power outages at a nuclear power plant has a Poisson distribution with a mean of 6 outages per year. The probability that there will be between 1 and 3 inclusive power outages in a year is ____________.

SCENARIO 5-9 A major hotel chain keeps a record of the number of mishandled bags per 1,000 customers. In a recent year, the hotel chain had 4.06 mishandled bags per 1,000 customers. Assume that the number of mishandled bags has a Poisson distribution. -Referring to Scenario 5-9, what is the probability that in the next 1,000 customer, the hotel chain will have no more than three mishandled bags?

SCENARIO 5-10 Subscribers to Investment Advice White Letters perform security transactions at the rate of five trades per month. Assume that one of the subscribers performs transactions at this rate and the probability of a transaction for any two months is the same and the number of transactions in one month is independent of the number of transactions in another month. -Referring to Scenario 5-10, what is probability that no more than five security transactions will be conducted in one month?

Whenever π = 0.1 and n is small, the binomial distribution will be

SCENARIO 5-7 A consulting firm that surveyed consumers' holiday shopping behavior found that the percentage of consumers from the U.S., Canada, and China who said that they planned to spend more on holiday shopping were 40%, 34% and 73%, respectively. The survey also found that the percentage of consumers from the U.S., Canada, and China who said that they were willing to share personal information with retailers in order to receive personalized offers from retailers were 55%, 46% and 72%, respectively. Suppose you randomly select 5 consumers from each of the three countries. -Referring to Scenario 5-7, the probability that none of the 5 consumers from the U.S. are willing to share personal information with retailers in order to receive personalized offers from retailers is ________.

What type of probability distribution will most likely be used to analyze warranty repair needs on new cars in the following problem? The service manager for a new automobile dealership reviewed dealership records of the past 20 sales of new cars to determine the number of warranty repairs he will be called on to Perform in the next 90 days. Corporate reports indicate that the probability any one of their New cars needs a warranty repair in the first 90 days is 0.05. The manager assumes that calls For warranty repair are independent of one another and is interested in predicting the number Of warranty repairs he will be called on to perform in the next 90 days for this batch of 20 New cars sold.

SCENARIO 5-7 A consulting firm that surveyed consumers' holiday shopping behavior found that the percentage of consumers from the U.S., Canada, and China who said that they planned to spend more on holiday shopping were 40%, 34% and 73%, respectively. The survey also found that the percentage of consumers from the U.S., Canada, and China who said that they were willing to share personal information with retailers in order to receive personalized offers from retailers were 55%, 46% and 72%, respectively. Suppose you randomly select 5 consumers from each of the three countries. -Referring to Scenario 5-7, the probability that at least 3 consumers from China plan to spend more on holiday shopping is ________.

Suppose that past history shows that 60% of college students prefer Brand C cola. A sample of 5 students is to be selected. The probability that exactly 1 prefers brand C is ________.

The number of customers arriving at a department store in a 5-minute period has a Poisson distribution.