Example of discrete random variable, Applied Statistics

Example of discrete random variable:

1. What is a discrete random variable? Give three examples from the field of business.

2. Of 1000 items produced in a day at XYZ Manufacturers, 400 are produced on the first shift, 350 on the second and 250 on the third. Suppose that the proportions of defective items produced on the first, second and third shifts are 0 01, 0.02, and 0.04, respectively. An item is picked at random. What is the probability that it was produced on (a) the first shift (b) either the first or the second shift? (c) What is the probability that it is defective? (d) What is the probability that it is defective, given that it was produced on the third shift? (e)What is the probability that it is defective and also was produced on the first shift?

3. ABC company has 2000 accounts receivable. The mean and standard deviation are $300 and $50, respectively. Assume that the accounts are normally distributed.

(a) How many accounts exceed $400?

(b) What is the probability that an account selected at random will be between $200 and $350?

(c) Forty percent of the accounts exceed what dollar amount?  (Hint: Fifty percent of the accounts are for more than $300.)

(d)  Twenty percent of  the accounts are below what dollar amount?

(4)  A manufacturer claims that 6% of her product is defective. If the claim is true what is the probability that the number of defective products in a random sample of 20 will be (a) exactly 2  (b) 2 or more  (c) 0  (d) fewer than 5  (e) between 2 and 5 inclusive?

(5) A government agency is conduction a check on label specifications for a product. Suppose that in a particular crate are 6 out of 24 cans whose contents do not meet their label specifications. The agency chooses 6 cans from a crate. What is the probability that the agency will find no mislabeled cans?

(6)  A sample of 80 costumers at 'ABC' Department Store were interviewed regarding their buying habits. One question asked was, " How many times did you shop at this store during the preceding month?" The responses are shown in the table that follows. (a) Find the probability that randomly selected customer shopped (1) more than once (2) zero times (3) more than four times (4) fewer than three times (b) Find the mean and variance.

Xj (no. of times shopped)









no. of customers









Posted Date: 2/12/2013 6:11:30 AM | Location : United States

Related Discussions:- Example of discrete random variable, Assignment Help, Ask Question on Example of discrete random variable, Get Answer, Expert's Help, Example of discrete random variable Discussions

Write discussion on Example of discrete random variable
Your posts are moderated
Related Questions
(a) The Horton's initial infiltration capacity for a catchment is 204 mm/h and the constant infiltration value at saturation is 60 mm/h. For a rainfall in excess of 204 mm/h mainta

Sample Standard Deviation So far, we discussed the population standard deviation. Now, let us switch to sample standard deviation(s) that is analogous to the population stand

in a normal distribution with a mean of 85 and a STD of 5, what is the percentage of scores between 75 and 90?

How can we analyse data with four bilateral response variables measured with errors and three covariated measured without errors?

There are two diagnostic tests for a disease. Among those who have the disease, 10% give negative results on the first test, and independently of this, 5% give negative results on

Estimate a linear probability model: Consider the multiple regression model: y = β 0 +β 1 x 1 +.....+β k x k +u Suppose that assumptions MLR.1-MLR4 hold, but not assump

#regression line drawn as Y=C+1075x, when x was 2, and y was 239, given that y intercept was 11. calculate the residual

This question explores the effect of estimation error on apparent arbitrage opportunities in a controlled simulation setting. We simulate returns for N = 10 assets over T = 30 year

how do i determine the 40th percentile in an ogive graph

Asymmetric proximity matrices Immediacy matrices in which the off-diagonal elements which are, in the i th row and j th column and the j th row and i th column, are not essent