Project #34697 - Probability/Statistics

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 y-axis 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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