Find the probability that drug is beneficial to individual

Assignment Help Basic Statistics
Reference no: EM13143711

The number of times that an individual contracts a cold in a given year is a Poisson random variable with parameter λ = 5. Suppose a new wonder drug (based on large quantities of vitamin C) that has just been marketed reduces the Poisson parameter to λ = 3 for 75 percent of the population. For the other 25 percent of the population, the drug has no effect on colds. If an individual tries the drug for a year and has 2 colds in that time, what is the probability that the drug is beneficial to that individual?

Reference no: EM13143711

Questions Cloud

Statements respect to the stock redemption : Kingbird redeems 200 of Amata's shares for $1,000 per share. Amata paid $300 per share for her Kingbird stock nine years ago. Which of the following statements is correct with respect to the stock redemption?
What is the molarity of a solution : what is the molarity of a solution prepared by dissolving 2.06g of NaOH in a volume of 500.0ml?
Preferable provision for imposition of civil liability : From the auditors' point of view, which of the following is a preferable provision for imposition of civil liability in a lawsuit for financial damages?
Find the probability that drug is beneficial to individual : For the other 25 percent of the population, the drug has no effect on colds. If an individual tries the drug for a year and has 2 colds in that time, what is the probability that the drug is beneficial to that individual?
Problem related to calendar year tax-payer : On January 1, Gull Corporation (a calendar year taxpayer) has accumulated E & P of $200,000. During the year, Gull incurs a net loss of $280,000 from operations that accrues ratably. On June 30, Gull distributes $120,000 to Sharon, its sole shareh..
Cooperative behavior : Young Jim actually experiences the sadness of his friend Abdul when Abdul's dog runs away. Jim is exhibiting ______________. empathy altruism cooperative behavior
Determining cost of the equipment : Fogelberg Company purchased equipment for $12,000. Sales tax on the purchase was $600. Other costs incurred were freight charges of $240, repairs of $420 for damage during installation, and installation costs of $270. What is the cost of the equip..
Income tax results of partnership formation : Bill contributes property (adjusted basis of $60,000; fair market value of $80,000) in exchange for his partnership interest. Which of the following statements is true concerning the income tax results of this partnership formation?

Reviews

Write a Review

 

Basic Statistics Questions & Answers

  Hypothesis test for independent sample means

At the .05 significance level, is the number of units produced on the afternoon shift larger?

  Recognize the statistical formulas

Be sure to specifically identify the statistical formulas and what additional data you would need to determine your estimate(s).

  Properties of a discrete probability distribution

Illustrate that probability distribution of X satisfies properties of a discrete probability distribution.

  Computing value of chi square

Is the number of children that a college student currently has independent of the type of college or university being attended?

  Confidence interval for difference in mean hdl levels

Generate a 95% confidence interval for the difference in mean HDL levels between men when exercise regularly and those who do not.

  Caculate expected value of profit made by insurance company

Caculate the expected value of the profit made by the insurance company. Many call this kind of situation a win win opportunity for the insurance company and the promoter. Do you agree? Explain.

  Find probability that new cup will overflow

What is the probability that a new cup will overflow when filled by the automatic dispenser? At what value should the mean amount dispensed by the machine be set to satisfy this wish?

  Examine results using more traditional split-plot method

Response being average of morning and evening speeds. At each interchange, three settings of traffic lights are allotted at random to three Tuesdays. Examine the results using more traditional split-plot method.

  Statistics on skin cancer malignancies

There is some concern that exposure to gases used in anesthesiology might be harming health of anesthesiologists. In one study of 525 Michigan nurse anesthesiologists, 10 reported a new malignancy other than skin cancer during the previous year.

  Question on independent sample t test for mean

In testing the equality of the two means below, what is the test statistic? (Use the unequal variances formula)

  Determining binomial distribution probabilities

Population of consumers where 30% of them favored a new product and 70% of them disliked it. If 20 persons are sampled, what are the probabilities of finding: Binomial

  Statistics-five step hypothesis testing

Given the Life expectancy data for the countries of the E.U., can we conclude that the mean Life Expectancy in the U.S. is greater than the mean Life expectancy in the E.U.?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd