What is the probability that a randomly selected subscriber

Assignment Help Basic Statistics
Reference no: EM131746250

Public Policy and Political Science The Weekly Standard is a politically conservative magazine (and website), described in ads as humorous and witty. This magazine is read by some of the most powerful men and women in government, politics, and the media. According to a survey conducted by magazine staff, the mean amount spent during the past 12 months for personal or vacation travel is $6159. Suppose the distribution of the amount spent by a subscriber during the past 12 months for personal or vacation travel can be modeled by an exponential random variable.
a. Find the value of λ.
b. Find the probability that a randomly selected subscriber spent more than $8000 for personal or vacation travel during the past 12 months.
c. Find the probability that a randomly selected subscriber spent between $5000 and $10,000 for personal or vacation travel during the past 12 months.
d. If a subscriber spent less than $500 for personal or vacation travel during the past 12 months, the circulation department will no longer hand-deliver each issue. What is the probability that a randomly selected subscriber will no longer receive hand-delivered issues?

Reference no: EM131746250

Questions Cloud

Prepare the journal entries to record the exchange : Prepare the journal entries to record the exchange, The equipment has been purchased for $95,000 ten years ago and has since been fully depreciated
Prepare all necessary journal entries : Equipment that cost $48,000 and has accumulated amortization of $38,400 is exchange for similar equipment with a fair value
Find probability that the values of all four random variable : exponential random variable with ? = i/10. If the Xi's are independent, find the probability that the values of all four random variables are less than 1
Compute the break-even point in dollars : Compute the break-even point in dollars, The companys income statement showed the following results from selling
What is the probability that a randomly selected subscriber : Find the probability that a randomly selected subscriber spent more than $8000 for personal or vacation travel during the past 12 months.
Discuss the depending on your primary concern the decision : Depending on your primary concern the decision may be to file the grievance or not to file the grievance. See if you can identify your reference point.
Find the probability that a randomly selected timing : Find the probability that a randomly selected timing belt lasts for more than 120,000 miles. c. Find the probability that a randomly selected timing belt lasts
Discuss the history of one of the vector borne diseases : Discuss the history of one of the vector borne diseases that is profiled this week and how people are affected.
Prepare post-closing trial balance : Prepare post-closing trial balance, Discuss the financial position of Trap Adventures, Inc. using the following ratios

Reviews

Write a Review

Basic Statistics Questions & Answers

  Statistics-probability assignment

MATH1550H: Assignment:  Question:  A word is selected at random from the following poem of Persian poet and mathematician Omar Khayyam (1048-1131), translated by English poet Edward Fitzgerald (1808-1883). Find the expected value of the length of th..

  What is the least number

MATH1550H: Assignment:  Question:     what is the least number of applicants that should be interviewed so as to have at least 50% chance of finding one such secretary?

  Determine the value of k

MATH1550H: Assignment:  Question:     Experience shows that X, the number of customers entering a post office during any period of time t, is a random variable the probability mass function of which is of the form

  What is the probability

MATH1550H: Assignment:Questions: (Genetics) What is the probability that at most two of the offspring are aa?

  Binomial distributions

MATH1550H: Assignment:  Questions:  Let’s assume the department of Mathematics of Trent University has 11 faculty members. For i = 0; 1; 2; 3; find pi, the probability that i of them were born on Canada Day using the binomial distributions.

  Caselet on mcdonald’s vs. burger king - waiting time

Caselet on McDonald’s vs. Burger King - Waiting time

  Generate descriptive statistics

Generate descriptive statistics. Create a stem-and-leaf plot of the data and box plot of the data.

  Sampling variability and standard error

Problems on Sampling Variability and Standard Error and Confidence Intervals

  Estimate the population mean

Estimate the population mean

  Conduct a marketing experiment

Conduct a marketing experiment in which students are to taste one of two different brands of soft drink

  Find out the probability

Find out the probability

  Linear programming models

LINEAR PROGRAMMING MODELS

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