Questions from Business Statistics

Q: Find the standard deviation of your winnings throwing darts in Exercise 14

Find the standard deviation of your winnings throwing darts in Exercise 14 .

Q: The probability model below describes the number of repair calls that an

The probability model below describes the number of repair calls that an appliance repair shop may receive during an hour. 1. How many calls should the shop expect per hour? 2. What is the standard de...

Q: A commuter must pass through five traffic lights on her way to

A commuter must pass through five traffic lights on her way to work and will have to stop at each one that is red. She estimates the probability model for the number of red lights she hits, as shown b...

Q: Since 1994, the Best Roller Coaster Poll (www.ushsho

Since 1994, the Best Roller Coaster Poll (www.ushsho.com/bestrollercoasterpoll.htm) has been ranking the world best roller coasters. In 2013, Bizarro dropped to 4th after earning the top steel coaster...

Q: A consumer organization inspecting new cars found that many had appearance defects

A consumer organization inspecting new cars found that many had appearance defects (dents, scratches, paint chips, etc.). While none had more than three of these defects, 7% had three, 11% two, and 21...

Q: An insurance policy costs $100 and will pay policyholders $10

An insurance policy costs $100 and will pay policyholders $10,000 if they suffer a major injury (resulting in hospitalization) or $3000 if they suffer a minor injury (resulting in lost time from work)...

Q: Mary is deciding whether to book the cheaper flight home from college

Mary is deciding whether to book the cheaper flight home from college after her final exams, but she unsure when her last exam will be. She thinks there is only a 20% chance that the exam will be sche...

Q: An option to buy a stock is priced at $200.

An option to buy a stock is priced at $200. If the stock closes above 30 on May 15, the option will be worth $1000. If it closes below 20, the option will be worth nothing, and if it closes between 20...

Q: You play two games against the same opponent. The probability you

You play two games against the same opponent. The probability you win the first game is 0.4. If you win the first game, the probability you also win the second is 0.2. If you lose the first game, the...

Q: Your company bids for two contracts. You believe the probability you

Your company bids for two contracts. You believe the probability you get contract #1 is 0.8. If you get contract #1, the probability you also get contract #2 will be 0.2, and if you do not get #1, the...