Questions from Business Statistics

Q: Solve the following problems by using the hypergeometric formula. a

Solve the following problems by using the hypergeometric formula. a) If N = 6, n =4, and A = 5, what is the probability that x = 3? b) If N = 10, n = 3, and A = 5, what is the probability that x ≤ 1?...

Q: In a study by Peter D. Hart Research Associates for the

In a study by Peter D. Hart Research Associates for the Nasdaq Stock Market, it was determined that 20% of all stock investors are retired people. In addition, 40% of all U.S. adults invest in mutual...

Q: Suppose 20% of the people in a city prefer Pepsi-

Suppose 20% of the people in a city prefer Pepsi-Cola as their soft drink of choice. If a random sample of six people is chosen, the number of Pepsi drinkers could range from zero to six. Shown here a...

Q: A service station has a pump that distributes diesel fuel to automobiles

A service station has a pump that distributes diesel fuel to automobiles. The station owner estimates that only about 3.2 cars use the diesel pump every 2 hours. Assume the arrivals of diesel pump use...

Q: In a particular manufacturing plant, two machines (A and B

In a particular manufacturing plant, two machines (A and B) produce a particular part. One machine (B) is newer and faster. In one five-minute period, a lot consisting of 32 parts is produced. Twenty-...

Q: Suppose that, for every lot of 100 computer chips a company

Suppose that, for every lot of 100 computer chips a company produces, an average of 1.4 are defective. Another company buys many lots of these chips at a time, from which one lot is selected randomly...

Q: The National Center for Health Statistics reports that 25% of all

The National Center for Health Statistics reports that 25% of all Americans between the ages of 65 and 74 have a chronic heart condition. Suppose you live in a state where the environment is conducive...

Q: A survey conducted for the Northwestern National Life Insurance Company revealed that

A survey conducted for the Northwestern National Life Insurance Company revealed that 70% of American workers say job stress caused frequent health problems. One in three said they expected to burn ou...

Q: According to Padgett Business Services, 20% of all small-

According to Padgett Business Services, 20% of all small-business owners say the most important advice for starting a business is to prepare for long hours and hard work. Twenty-five percent say the m...

Q: According to a recent survey, the probability that a passenger files

According to a recent survey, the probability that a passenger files a complaint with the Department of Transportation about a particular U.S. airline is .000014. Suppose 100,000 passengers who flew w...