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)

0

1

2

3

4

5

6

7

no. of customers

15

27

14

12

6

4

1

1

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

Scenario: To fundraise for middle school camp the year 3 and 4 syndicate designed and produced chocolate treats to sell to the year 1 and 2, and year 5 and 6 students at morning te

Frequency distribution A frequency distribution is a series where a number of items with similar values are put in separate groups or bunches. In other words a frequency distri

The data le for this assignment is brain-body-wts.txt, which lists the averages brain weights (gm) and body weights (kg) for a number of animal species. Your task is to t an appr

1. Calculate the mean and mode of: Central size 15 25 35 45 55 65 75 85 Frequencies 5 9 13 21 20 15 8 3 The following data shows the monthly expenditure of 80 students of

You are given the differential equation dy/dx = y' = f(x, y) with initial condition y(0 ) 1 = . The following numerical method is also given: where  f n = f( x n , y n )

PROPERTIES   1. The value of standard deviation remains the same if, in a series each of the observation is increased or decreased by a constant quantity. In statistical lan


Each section of the SAT test is supposed to be distributed normally with a mean of 500 and a standard deviation of 100. Suppose 5 students in a class took the SAT math test. They r

A medical researcher has 100 bone cancer patients in a study. Every patient's condition is one of six types, type \A" to type \F". The 100 patients split as follows: x There