Questions from Business Statistics

Q: The Fortune 500 includes the top 20 U.S. companies

The Fortune 500 includes the top 20 U.S. companies by revenue. Walmart is number one followed by Exxon Mobil and Berkshire Hathaway. Of the 20 companies on the list, 5 are in some type of healthcare-o...

Q: The following data are the result of a historical study of the

The following data are the result of a historical study of the number of flaws found in a porcelain cup produced by a manufacturing firm. Use these data and the associated probabilities to compute the...

Q: W. Edwards Deming in his red bead experiment had a box

W. Edwards Deming in his red bead experiment had a box of 4000 beads, of which 800 were red and 3200 were white. * Suppose a researcher were to conduct a modified version of the red bead experiment. I...

Q: Shown here are the top 10 U.S. cities ranked

Shown here are the top 10 U.S. cities ranked by population. Suppose four of these cities are randomly selected. a) What is the probability that exactly two cities are in California? b) What is the pr...

Q: A company produces and ships 16 personal computers knowing that 4 of

A company produces and ships 16 personal computers knowing that 4 of them have defective wiring. The company that purchased the computers is going to thoroughly test 3 of the computers. The purchasing...

Q: A western city has 18 police officers eligible for promotion. Eleven

A western city has 18 police officers eligible for promotion. Eleven of the 18 are Hispanic. Suppose only 5 of the police officers are chosen for promotion and that 1 is Hispanic. If the officers chos...

Q: Solve for the probabilities of the following binomial distribution problems by using

Solve for the probabilities of the following binomial distribution problems by using the binomial formula. a) If n = 11 and p = .23, what is the probability that x = 4? b) If n = 6 and p = .50, what i...

Q: Use Table A.2, Appendix A, to find the

Use Table A.2, Appendix A, to find the values of the following binomial distribution problems. Table A.2: a) P(x = 14│n = 20 and p = .60) b) P(x < 5│n = 10 and p = .30) c) P(x ≥ 12│n = 15 and p = .60)...

Q: Use the Poisson formula to solve for the probabilities of the following

Use the Poisson formula to solve for the probabilities of the following Poisson distribution problems. a) If λ = 1.25, what is the probability that x = 4? b) If λ = 6.37, what is the probability that...

Q: Use Table A.3, Appendix A, to find the

Use Table A.3, Appendix A, to find the following Poisson distribution values. a) P(x = 3│λ = 1.8) b) P(x < 5│λ = 3.3) c) P(x ≥ 3│λ = 2.1) d) P(2 < x ≤ 5│λ = 4.2)