Assignment 3

A random variable that can assume only a finite number of values is referred to as a

discrete random variable

A discrete probability distribution for which the relative frequency method is used to assign probabilities is the

empirical discrete distribution

During lunchtime, customers arrive at Bob's Drugs according to a Poisson distribution with on average 4 customers per minute. What is the probability of two arrivals in a two-minute period? (keep 3 decimals)

.011

During lunchtime, customers arrive at Bob's Drugs according to a Poisson distribution with on average 4 customers per minute. During a minute interval, determine the following probability: no arrivals (keep 3 decimals)

.018

The probability that Pete will catch fish on a particular day when he goes fishing is 0.8. Pete is going fishing 3 days next week. The variance of the number of days Pete will catch fish is

.48

During lunchtime, customers arrive at Bob's Drugs according to a Poisson distribution with on average 4 customers per minute. During a one minute interval, determine the following probability: three or more arrivals. (keep 3 decimals)

.762

A life insurance company has determined that the number of claims filed follows a Poisson distribution in its Nashville branch. On average, seven claims are filed per week. What is the probability that during the next week at least seventeen claims will be filed? (keep 3 decimals)

0.001

AMR is a computer-consulting firm. The number of new clients that they have obtained each month has ranged from 0 to 6. The number of new clients has the probability distribution that is shown below. The variance is

2.0475

x is a random variable with the probability function: f(x)=x/6 for x=1,2 or 3. The expected value of x is

2.333

The probability that Pete will catch fish on a particular day when he goes fishing is 0.8. Pete is going fishing 3 days next week. The expected number of days Pete will catch fish is

2.4

Excel's BINOM.DIST function can be used to compute

Both binomial probabilities and cumulative binomial probabilities

When using Excel's BINOM.DIST function, one should choose TRUE for the fourth input if

a cumulative probability is desired

The probability distribution for the daily sales at Michael's Co. is given below. The expected daily sales are

$56,000

The probability that Pete will catch fish on a particular day when he goes fishing is 0.8. Pete is going fishing 3 days next week. The probability that Pete will catch fish on exactly one day is

.096

The probability that Pete will catch fish on a particular day when he goes fishing is 0.8. Pete is going fishing 3 days next week. The probability that Pete will catch fish on one day or less is

.104

A life insurance company has determined that the number of claims filed follows a Poisson distribution in its Nashville branch. On average, seven claims are filed per week. What is the probability that during the next week exactly seven claims will be filed? (Keep 3 decimals)

.149

A manufacturer of computer disk drives has a historical defective rate of .001. What is the probability that in a batch of 1000 drives, 2 would be defective? (keep 3 decimals) (hint: what is the number of trials? what is the 'success' rate?)

.184

A life insurance company has determined that the number of claims filed follows a Poisson distribution in its Nashville branch. On average, seven claims are filed per week. What is the probability that during the next week there are either 4 or 5 claims will be filed? (keep 3 decimals)

.219

A life insurance company has determined that the number of claims filed follows a Poisson distribution in its Nashville branch. On average, seven claims are filed per week. What is the probability that during the next week fewer than four claims will be filed? (keep 3 decimals)

0.082

AMR is a computer-consulting firm. The number of new clients that they have obtained each month has ranged from 0 to 6. The number of new clients has the probability distribution that is shown below. The standard deviation is

1.431

AMR is a computer-consulting firm. The number of new clients that they have obtained each month has ranged from 0 to 6. The number of new clients has the probability distribution that is shown below. The expected number of new clients per month is

3.05

Which of the following is not a required condition for a discrete probability function?

Ef(x) = 0

If we only have the relative frequency table for the outcomes of a discrete random variable, Excel's ________ function can be used to compute the expected value of this discrete random variable

SUMPRODUCT

Which of the following is not a characteristic of an experiment where the binomial probability distribution is applicable?

the trials are dependent

Which of the following is a characteristic of a binomial experiment?

the trials are independent