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The Wall Street Journal reported some interesting statistics on the job market. One statistic is that 40% of all workers say they would change jobs for "slightly higher pay." In addition, 88% of companies say that there is a shortage of qualified job candidates. Suppose 16 workers are randomly selected and asked if they would change jobs for "slightly higher pay." What is the probability that nine of more say yes? What is the probability that three, four, five or six say yes? If 13 companies are contacted, what is the probability that exactly 10 say there is a shortage of qualified job candidates? What is the probability that all of the companies say there is a shortage of qualified job candidates? What is the expected number of companies that would say there is a shortage of qualified candidates?
If we were to ask three people at arbitrary, determine the probability that they will all prefer punk rock?
If there are 12 business-class passengers and 50 tourist-class passengers on a particular flight, what are the expected value of total luggage weight and the standard deviation of the total luggage weight?
Find out how to minimize cost of meeting demands in Houston and Tampa.
Probability values based on normal distribution - old exit exam followed a normal distribution
The distribution of lifetimes for a certain type of light bulb is normally distributed with a mean of 1000 hours and a standard deviation of 100 hours. Find the 33rd percentile of the distribution of lifetimes.
Calculate the 95% confidence interval for the rate of positive tuberculin reaction separately for each of the two subpopulation, those with high exposure and those with low exposure.
Compute mean, standard deviation, coefficient of variation and 5 key percentiles for these data.
At 5% level of significance, is true mean smaller than specification? Clearly mention your hypotheses and decision rule.
Two events are mutually exclusive: If their intersection is 1, If they have no sample points in common.
Now suppose that a finished product is randomly selected. What is the probability that it is defective?
The mean is a useful measure, but it can be misleading. Describe a circumstance when the mean is very useful as the average and a circumstance when the mean is very misleading as the average.
Use this information to construct a probability table, and then calculate each of the following probabilities:
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