The answers to all questions should be in decimal form rounded to two values after the decimal point (rounded to the nearest hundredths)
1.) A contractor assumes that the cost of fulfilling a particular contract follows normal distribution. What is the approximate mean cost of such a contract such that the probability that the contract will cost less than $450,000 is 20% for a standard deviation of $50000?
2.) Assume that the number of network errors experienced in a day on a local area network (LAN) is distributed as a Poisson random variable. The average number of network errors experienced in an hour is 0.04. What is the probability that in any given day there are at least 2 errors?
3.) Suppose that the number of defaults on home mortgage loans at National Mortgage Company follows a Poisson distribution with an average of 8.2 defaults per 30 days. What is the probability that the next customer to default will default at some point in the next 5 days?
4.) Which of the following statements is false?
· A probability distribution is discrete if it has a finite number of possible values
· A probability is continuous if its possible values are essentially some continuum
· An example of discrete probality distribution is the exact amount of rain that fall during the month of June in Michigan
· None of the above
5) Which of the following statements is correct regarding the graph of the probability mass function of a discrete random variable?
· Series of spikes
· Height of each vertical bar is the probability of the corresponding value
· The value of height of each vertical bar as read on the yaxis cannot exceed 1
· All of the above
6.) F(x) is the cumulative distribution function (CDF) of a continuous random variable X. Which of the following is impossible?
F(x) = 0 for some x
F(x) = F(x ) for some x < x
F(x) < F(x ) for some x < x
F(x) > F(x ) for some x < x'










Subject  Mathematics 
Due By (Pacific Time)  07/03/2014 12:00 am 
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