Find the mean and standard deviation, Applied Statistics

Problem :

A company supplying electrical products, places a rush order for electric wires. Consignments of wires are to be sent immediately when they are available. Previous experience suggests that the probability that a consignment will arrive within a week is 0.8.
Assume that two consignments are randomly selected.

(a) Describe the conditions under which this situation would be a binomial experiment.
(b) Compute the probabilities associated with:
(i) no consignment will arrive within a week.
(ii) only one consignment will arrive within a week.
(iii) both consignments will arrive within a week.
(c) Find the mean and standard deviation resulting from this two trial experiment.

(d) If the probability that a consignment will arrive within one week is now 0.3. What will be the probability values in part (b)?

Posted Date: 11/8/2013 6:32:25 AM | Location : United States







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