Questions from Business Statistics

Q: Determine the mean, the variance, and the standard deviation of

Determine the mean, the variance, and the standard deviation of the following discrete distribution. x __________________ P(x) 0 ………………………………………… .103 1 …….…………………………………… .118 2 ………………………………………… .246...

Q: On Monday mornings, the First National Bank has only one teller

On Monday mornings, the First National Bank has only one teller window open for deposits and withdrawals. Experience has shown that the average number of arriving customers in a four-minute interval o...

Q: A restaurant manager is interested in taking a more statistical approach to

A restaurant manager is interested in taking a more statistical approach to predicting customer load. She begins the process by gathering data. One of the restaurant hosts or hostesses is assigned to...

Q: According to the United National Environmental Program and World Health Organization,

According to the United National Environmental Program and World Health Organization, in Mumbai, India, air pollution standards for particulate matter are exceeded an average of 5.6 days in every thre...

Q: Ship collisions in the Houston Ship Channel are rare. Suppose the

Ship collisions in the Houston Ship Channel are rare. Suppose the number of collisions are Poisson distributed, with a mean of 1.2 collisions every four months. a) What is the probability of having no...

Q: A pen company averages 1.2 defective pens per carton produced

A pen company averages 1.2 defective pens per carton produced (200 pens). The number of defects per carton is Poisson distributed. a) What is the probability of selecting a carton and finding no defec...

Q: A medical researcher estimates that .00004 of the population has a

A medical researcher estimates that .00004 of the population has a rare blood disorder. a) If the researcher randomly selects 100,000 people from the population, what is the probability that 7 or more...

Q: A data firm records a large amount of data. Historically,

A data firm records a large amount of data. Historically, .9% of the pages of data recorded by the firm contain errors. If 200 pages of data are randomly selected, a) What is the probability that 6 or...

Q: Compute the following probabilities by using the hypergeometric formula. a

Compute the following probabilities by using the hypergeometric formula. a) The probability of x = 3 if N = 11, A = 8, and n = 4 b) The probability of x < 2 if N = 15, A = 5, and n = 6 c) The probabil...

Q: Shown here are the top 19 companies in the world in terms

Shown here are the top 19 companies in the world in terms of oil refining capacity. Some of the companies are privately owned and others are state owned. Suppose 6 companies are randomly selected. a)...