What is the likelihood that the mean annual precipitation

Assignment Help Microeconomics
Reference no: EM13764863

Part -1:

1) If light bulbs have lives that are normally distributed with a mean of 2500 hours and a standard deviation of 500 hours, what percentage of light bulbs have a life less than 2500 hours?

2) The lifetimes of light bulbs of a particular type are normally distributed with a mean of 370 hours and a standard deviation of 5 hours. What percentage of bulbs has lifetimes that lie within 1 standard deviation of the mean on either side?

3) The amount of Jen's monthly phone bill is normally distributed with a mean of $60 and a standard deviation of $12.  Fill in the blanks:

68% of her phone bills are between $______________ and $______________.

4) The amount of Jen's monthly phone bill is normally distributed with a mean of $50 and a standard deviation of $10.  Find the 25th percentile.

5) The diameters of bolts produced by a certain machine are normally distributed with a mean of 0.30 inches and a standard deviation of 0.01 inches.  What percentage of bolts will have a diameter greater than 0.32 inches?

6) The annual precipitation amounts in a certain mountain range are normally distributed with a mean of 88 inches, and a standard deviation of 10 inches. What is the likelihood that the mean annual precipitation during 25 randomly picked years will be less than 90.8 inches?

7) A final exam in Statistics has a mean of 73 with a standard deviation of 7.73.  Assume that a random sample of 24 students is selected and the mean test score of the sample is computed. What percentage of sample means are less than 70?

8) A mean score on a standardized test is 50 with a standard deviation of 10. Answer the following

  1. What scores fall between -1 and +1 standard deviation?
  2. What percent of all scores fall between -1 and +1 standard deviation?
  3. What score falls at +2 standard deviations?
  4. What percentage of scores falls between +1 and +2 standard deviations?

Part -2:

1) For the following questions, would the following be considered "significant" if its probability is less than or equal to 0.05?

1. Is it "significant" to get a 12 when a pair of dice is rolled?

2. Assume that a study of 500 randomly selected school bus routes showed that 480 arrived on time.  Is it "significant" for a school bus to arrive late?

2) If you flip a coin three times, the possible outcomes are HHH, HHT, HTH, HTT, THH, THT, TTH, and TTT. What is the probability of getting at least one head?  

3) A sample space consists of 64 separate events that are equally likely.  What is the probability of each?  

4) A bag contains 4 red marbles, 3 blue marbles, and 7 green marbles.  If a marble is randomly selected from the bag, what is the probability that it is blue?

5) The data set represents the income levels of the members of a country club.  Estimate the probability that a randomly selected member earns at least $98,000.

112,000           126,000           90,000             133,000           94,000

112,000           98,000             82,000             147,000           182,000

86,000             105,000           140,000           94,000             126,000

119,000           98,000             154,000           78,000             119,000

6) Suppose you have an extremely unfair coin:  The probability of a head is ¼ and the probability of a tail is ¾.  If you toss the coin 32 times, how many heads do you expect to see?

7) The following table is from the Social Security Actuarial Tables.  For each age, it gives the probability of death within one year, the number of living out of an original 100,000 and the additional life expectancy for a person of that age.  Determine the following using the table:

1. To what age may a female of age 60 expected to live on the average?  To what age is a male of age 70 expected to live on average?

2. How many 60-year old females on average will be living at age 61?  How many 70-year old males on average will be living at age 71?

 

Age

P(Death within one year)

Number of Living

Life Expectancy

P(Death within one year)

Number of Living

Life Expectancy

 

 

 

 

 

 

 

 

 

10

0.000111

99,021

65.13

0.000105

99,217

70.22

 

20

0.001287

98,451

55.46

0.000469

98,950

60.40

 

30

0.001375

97,113

46.16

0.000627

98,431

50.69

 

40

0.002542

95,427

36.88

0.001498

97,513

41.11

 

50

0.005696

91,853

28.09

0.003240

95,378

31.91

 

60

0.012263

84,692

20.00

0.007740

90,847

23.21

 

70

0.028904

70,214

12.98

0.018938

80,583

15.45

 

80

0.071687

44,272

7.43

0.049527

594,31

9.00

 

90

0.188644

12,862

3.68

0.146696

24,331

4.45

 

Reference no: EM13764863

Questions Cloud

Prepare a cost of goods manufactured schedule : Required: Prepare a cost of goods manufactured schedule, a proforma income statement and proforma balance sheet.
What is your plan for improving skills : Assess your progress and skills with qualitative reasoning and analysis. Where do you still need to improve, and what is your plan for improving those skills?
Recommendations to clients in the area : Consider the following situation: You and two of your very best friends have started an engineering consulting firm. This firm studies advanced principles and makes recommendations to clients in the area of "your specialty here."
Explain blending and adapting the approaches : Explain Blending and Adapting the Approaches. you will take your knowledge a step further by discussing how the approaches might be blended or adapted to suit particular research questions or topics.
What is the likelihood that the mean annual precipitation : What is the probability of getting at least one head - What is the probability of each?
Building project : This exercise begins with information for a building project. Working in Microsoft Project, you will create the task list, including summary tasks and their sub-tasks, create links between tasks and their predecessors, add resources, and make chan..
Write a paper on qualitative reasoning and analysis : Write a paper on Qualitative Reasoning and Analysis. This is not meant to be a full research plan in that you will not be constructing data collection instruments or generating data to use.
Property transfers and exchanges : After reviewing the scenario, explore the key exceptions that would prevent taxpayers from deferring the tax liability on inherited property and like-kind exchanges. Identify at least two (2) types of property that are not considered like-kind exc..
Problem related to junction capacitance : Compute the gradient(derivative) of the Electron and Hole QFL for a pn diode with Nd=2x1016 and Na=1x1017 cm-3, use mobilities for silicon and assume the current density is 103 A/cm2.

Reviews

Write a Review

Microeconomics Questions & Answers

  What you expect to happen to the number of firms

Consider a perfectly competitive market. Analyze and explain in detail using graphical tools to show what you expect to happen to the number of firms and firm profitability in the short run and long run a) if demand for the product falls and b) if..

  What is the cultural phenomenon at play

What is the cultural phenomenon at play here and how do you explain the lack of intercultural communication and interaction?

  Find the natural equilibrium fish population

Find the natural equilibrium fish population and the maximum sustainable yield

  Determine how to deal with pesticide contamination

How high would these benefits have to be each year to make the government indifferent between choosing the treatment nlant or the pesticide ban - Determine how to deal with pesticide contamination of its water supply. It cants to undertake a benef..

  Which consumers would purchase insurance at that priceare

suppose there are two types of people who need health insurance high-risk and low-risk consumers. high-risk consumers

  Define the short-run aggregate supply curve shows

In the 1960s and 1970s, research funding by the U.S. government and some universities led to revolutionary advances in network computing. These advances in communication and network technology remained largely isolated to governmental and academic..

  How technology could be used that might affect these trends

1. Explain why you agree or disagree that Americans seem willing to sell their own privacy cheaply while simultaneously craving private information about one another. 2. Describe what role you think technology has played in these trends towards pri..

  Considering a new waste disposal system

A city government in Arizona is considering a new waste disposal system. Both projects have a 15 year life with no salvage value. At the end of the 15 years the city will re-evaluate the success of their assessed $100,000 per year to cover the new sy..

  1 consider a two period model an agent gains utility from

1. consider a two period model. an agent gains utility from consumption today c1 and in the future c2 according to uc1

  How does each affect equilibrium price and quantity

A. What is market failure What are the major reasons that a free, unregulated market in medical care might not be optimal B. What assumptions of the perfectly competitive marketplace are violated in medical markets How does each affect equilibrium ..

  Suppose a monopolist faces the following demand curvep 90

suppose a monopolist faces the following demand curvep 90 2q. marginal cost of production is constant and equal to 10

  Question about vertical mergers

Suppose you are the Chief Economist of Antitrust Division of the Department of Justice. There is a single manufacturer of streaming video services that has a patent on technology so that no one else can give the service.

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