What is the conditional probability

Assignment Help Applied Statistics
Reference no: EM1387742

1. Length of pregnancies

The length of human pregnancies from conception to birth varies according to a distribution that is approximately Normal with mean 266 days and standard deviation 16 days.

a) What percent of pregnancies last fewer than 240 days (that's about 8 months)?

b) What percent of pregnancies last between 240 and 270 days (roughly between 8 and 9 months)?

c) How long do the longest 25% of pregnancies last?

2. deciles of Normal distributions

The deciles of any distribution are the 10th, 20th..., 90th percentiles, respectively.

a) What are the first and last deciles of the standard Normal distribution?

b) The weights of 9-ounce potato chip bags are approximately Normal with mean 9.25 ounces and standard deviation 0.15 ounce. What are the first and last deciles of this distribution?

3. Life Insurance

A life insurance company sells a term insurance policy to a 21-year-old male that pays $100,000 if that insured dies within the next 5 years. The probability that a randomly chosen male will die each year can be found in mortality tables. The company collects a premium of $250 each year as payment for the insurance. The amount X that the company earns on this policy is $250 per year., less the $100,000 that it must pay if the insured dies. The distribution of X is shown below. Fill in the missing probability in the table and calculate the mean earnings mx.

Age at Death (years)

Age of Death

 

21

22

23

24

25

>26

 

Earnings X
Probability

($99,750)

($99,550)

($99,250)

($99,000)

($98,750)

$1,250

 

0.00183

0.00186

0.00189

0.00191

0.00193

?

 

4. More about life insurance

It would be quite risky for you to insure the life of a 21-year-old friend under the terms of Exercise 4.151. There is a high probability that your friend would live and you would gain $1,250 in premiums. But if he were to die, you would lose almost $100,000. Explain carefully why selling insurance is not risky for an insurance company that insure many thousands of 21-year-old men?

Age of Death

 

21

22

23

24

25

>26

 

Earnings X
Probability

($99,750)

($99,550)

($99,250)

($99,000)

($98,750)

$1,250

 

0.00183

0.00186

0.00189

0.00191

0.00193

?

 

5 Tastes in music (pp.303) 

Musical styles other than rock and pop are becoming more popular. A survey of college students finds that 40% like country music, 30% like gospel music, and 10% like both.

a) What is the conditional probability that a student likes gospel music if we know that he or she likes country music?

b) What is the conditional probability that a student who does not like country music likes gospel music? (A Venn diagram may help you.)

Reference no: EM1387742

Questions Cloud

Audits are commonly associated with the financial : Audits are commonly associated with the financial and accounting records of the business. Using the publicly available financial statements of the corporation you
What penalty is the company incurring by its present order : What penalty is the company incurring by its present order size? The manager would prefer ordering 10 times each month but would have to justify any change in order size. One possibility is to simplify order processing to reduce the ordering cost...
Capital investments from companies : Toledo, OH has been experiencing improved economic growth following huge capital investments from companies like Chrysler. You have just been hired by RGP, an agency for facilitating business expansion and location in the Toledo metropolitan area.
The latin american division exports the largest volume : You are the global subsidiary branch manager of a U.S.-based MNE, Leather Extraordinaire, which manufactures leather goods. The Latin American division exports the largest volume of goods due to the high quality of leather and cheap labor
What is the conditional probability : What is the conditional probability that a student likes gospel music if we know that he or she likes country music?
Mean weight of the sample horses : Suppose the horses in a large stable have a mean weight of 1464 lbs, and a standard deviation of 111. What is the probability that the mean weight of the sample horses would differ from the population mean by less than 11 lbs if 34 horses are samp..
Best-performing subsidiary in an mne : You are the manager of the best-performing subsidiary in an MNE. Because bonuses are tied to subsidiary performance, your bonus is the highest of all subsidiary managers
Business ethics-moral values in health organizations : Ethics has become the major discussion in organizations today. We all understand, or should, how personal ethics and morals are determined.
Discuss chaos in health care systems : Discuss chaos in health care systems today. In addition, discuss the role of insurance and billing, HMOs, varying drug costs across borders

Reviews

Write a Review

 

Applied Statistics Questions & Answers

  Write your own newspaper article

Write your own newspaper article for the study with at least one appropriate table or graph.

  What is the probability

Find the probability of given case.

  What is a three-period moving average forecast

What is a three-period moving average forecast for the month of July? What is the slope of the regression equation developed when the Sales data are used to predict the Pounds?

  Prepare a research on applied statistics

Perspective about the problem you are trying to analyze; in other words, you should review the literature concerning your subject. The library or the web will be a good source of information.

  Hypothesis testing

What assumptions about the number of pedestrians passing the location in an hour are necessary for your hypothesis test to be valid?

  Determine the impact of social media use on student learning

Research paper examines determine the impact of social media use on student learning.

  Binomial probability distribution

Binomial probability distribution

  Standard deviation of all orders in sample

How many categories in the ACME transportation table are qualitative and what is the average number of merchandise per order, for all orders? Round to the nearest integer and what is the standard deviation of all orders in this sample?

  Regression analysis techniques

Regression analysis techniques

  Construct a bayesian network for the object recognition

Determine whether this data already provides an expected relative error introduced by the simulation of below 5%. If not, compute how many new simulations you should run in order to reduce the expected relative error introduced by the simulation b..

  Perform the hypothesis test

What are the assumptions made in performing the hypothesis test in Question 3? Are these assumptions reasonable? Provide explanation to substantiate your view.

  Is there a significant correlation

What test or tests would you use to rule out chance from causing the apparent differences in these data and is there a significant correlation?

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