Find the expected value variance and standard deviation of

Assignment Help Basic Statistics
Reference no: EM13579089

Question: Approximately 80% of workers are sure that they will be able to retire at 65 years of age. Suppose 10 workers are randomly selected.

(a) What is the probability that none of the workers will be able to retire at 65?

(b) What is the probability that 2 workers will retire at 65?

(c) Find the expected value, variance and standard deviation of the random variable X defined as ‘retirement at 65'.

Reference no: EM13579089

Questions Cloud

What is the probability that the game will end with the : suppose each of three persons tosses a coin. if the outcome of one of the tosses differs from the other outcomes then
Question in the us it is estimated that an average person : question in the u.s. it is estimated that an average person makes 4 visits a year to doctors offices.a what is the mean
If the sum is anything else then she continues throwing : the dice game craps is played as follows. the player throws two dice and if the sum is seven or eleven then she wins.
Pat davis has 750000 in a retirement fund pat plans to : pat davis has 750000 in a retirement fund. pat plans to start taking out funds at the end of the coming year. he
Find the expected value variance and standard deviation of : question approximately 80 of workers are sure that they will be able to retire at 65 years of age. suppose 10 workers
Juan is evaluating his retirement plan he estimates that he : juan is evaluating his retirement plan. he estimates that he will have saved 750000 when he retires in an account that
In answering a question on a multiple-choice test a student : in answering a question on a multiple-choice test a student either knows the answer or guesses. let p be the
Honest johns car dealership needs an easy way to determine : honest johns car dealership needs an easy way to determine monthly payments for customers who are inquiring about cars.
Consider an investment portfolio of 50000 in stock a and : question consider an investment portfolio of 50000 in stock a and 50000 in stock b. the expected value of a is 9.5

Reviews

Write a Review

Basic Statistics Questions & Answers

  Proportion-mean and standard deviation

Assume that you go to the drive through window at Wendy's and place an order. Two friends of yours independently place orders at the drive through window at the same Wendy's.

  Question illustrate type i error describe how the

question what is a type i error? explain how the cumulative type i error affects your decision making. how are the two

  Find probability the sample mean will be within range

Let denote the sample mean viewing time. What is the probability the sample mean will be within 0.25 hours of the population mean?

  How to convert a exam score back to percent score

How to convert a exam score (standard score) back to Percent score? e.g. Total of students 16,

  Necessary sample size for a given level of confidence

How large should the sample be if I want to maintain a 95 percent level of confidence and suffer a maximum error of $2.00 in my estimate of the highest price consumers are willing to pay?

  How many selections made using original shipment

Four of calculators are selected to be sent to local high school. How many selections can be made using original shipment?

  Find probability of all four engines failing

A student decided that this is a binomial distribution problem. The student found that the probability of all four engines failing is 4.1E-09. Is that answer correct?

  Determine lot size for company to minimize total annual cost

Determine the lot size for Company B that wold minimize total annual cost by using the economic production lot size model.

  Approximation to find theprobability

Explain why or why not and then use that approximation to find this probability

  Solving polynomials and identifying degree of polynomials

From the given polynomials, identify the polynomials of degree one. A function gives the value of C as 2 × (22/7) × r. Find C when r = 7 cm and r = 91 cm.

  Knowledge about binomial distribution

If you are dealt 3 cards from a shuffled deck of 52 cards, find the probability that all 3 cards are queens. A fair coin is tossed 8 times in succession. Find the probability of getting at least 4 heads.

  What percent of final game scores did pistons have

99.7% of the final game scores fall within what range, what percent of all final game scores did the pistons have more than 106 points?

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