Exam 5: Discrete Probability Distributions

The foreclosure crisis has been particularly devastating in housing markets in much of the south and west United States, but even when analysis is restricted to relatively strong housing markets the numbers are staggering. For example, in 2017 an average of three residential properties were auctioned off each weekday in the city of Boston, up from an average of one per week in 2011. What is the probability that at least one foreclosure auction occurred in Boston on a randomly selected weekday of 2017?

The number of cars sold by a car salesperson during each of the last 25 weeks is the following: What is the expected number of cars sold by the salesperson during a week?

A risk-averse consumer may decline a risky prospect even if it offers a positive expected value.

On a particular production line, the likelihood that a light bulb is defective is 5%. Ten light bulbs are randomly selected. What is the probability that two light bulbs will be defective?

The foreclosure crisis has been particularly devastating in housing markets in much of the south and west United States, but even when analysis is restricted to relatively strong housing markets the numbers are staggering. For example, in 2017 an average of three residential properties were auctioned off each weekday in the city of Boston, up from an average of one per week in 2011. What is the probability that exactly four foreclosure auctions occurred on a randomly selected weekday of 2017 in Boston?

Which of the following statements is the most accurate about a binomial random variable?

A bank manager estimates that an average of two customers enters the tellers' queue every five minutes. Assume that the number of customers that enters the tellers' queue is Poisson distributed. What is the probability that fewer than two customers enter the queue in a randomly selected five-minute period?

A Bernoulli process consists of a series of n independent and identical trials of an experiment such that in each trial there are three possible outcomes and the probabilities of each outcome remain the same.

George buys six lottery tickets for $2 each. In addition to the grand prize, there is a 20% chance that each lottery ticket gives a prize of $4. Assume that these tickets are not grand prize winners. A) What is the probability that the tickets are winners more than the average that George expected? B) What is the probability that none of the tickets are winners? C) What is the probability that at least one of the tickets is a winner?

The number of cars sold by a car salesperson during each of the last 25 weeks is the following: What is the probability that the salesperson will sell one car during a week?

According to a study by the Centers for Disease Control and Prevention, about 33% of U.S. births are Caesarean deliveries. Suppose seven expectant mothers are randomly selected. What is the probability that at least one of the expectant mothers will have a Caesarean delivery?

The number of syntactic errors found in a program code would best be described using a Poisson probability distribution.

According to a Department of Labor report, the city of Detroit had a 20% unemployment rate in May. Eight working-age residents were chosen at random. What is the probability that exactly one of the residents was unemployed?

The number of homes sold by a realtor during a month has the following probability distribution: What is the probability that the realtor will sell at least one house during a month?

Consider the following probability distribution. The expected value is ________.

A Poisson random variable counts the number of successes (occurrences of a certain event) over a given interval of time or space.

Consider the following cumulative distribution function for the discrete random variable X. What is the probability that X equals 2?

Cars arrive randomly at a tollbooth at a rate of 20 cars per 10 minutes during rush hour. What is the probability that exactly five cars will arrive over a five-minute interval during rush hour?

Chauncey Billups, a current shooting guard for the Los Angeles Clippers, has a career free-throw percentage of 89.4%. Suppose he shoots six free throws in tonight's game. What is the expected number of free throws that Billups will make?

The number of homes sold by a realtor during a month has the following probability distribution: What is the probability that the realtor sells no more than one house during a month?