Find the mean and standard deviation, Applied Statistics

Assignment Help:

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)?


Related Discussions:- Find the mean and standard deviation

What are the coefficients of the linear combination, For the following ques...

For the following questions we are interested in a comparison of the 16 years education vs. > 16 years. (Recall we did the analysis on the log scale, so these are actual means on t

Expected utility maximizer, The investor has constant wealth 1 and is o?ere...

The investor has constant wealth 1 and is o?ered to invest in shares of a project that either gains 3=2 or loses 1 with equal probabilities. Therefore, if the investor obtains sha

Cluster analysis, Cluster Analysis could be also represented more formally ...

Cluster Analysis could be also represented more formally as optimization procedure, which tries to minimize the Residual Sum of Squares objective function: where μ(ωk) - is a centr

Econometrics, The following data on calcium content of wheat are consistent...

The following data on calcium content of wheat are consistent with summary quantities that appeared in the article “Mineral Contents of Cereal Grains as Affected by Storage and Ins

Sampling, Sampling A  Population  is a collection of all the data point...

Sampling A  Population  is a collection of all the data points being studied. For example, if we are studying the annual incomes of all the people in India, then the population

Harmonic mean, The Harmonic Mean is based on the reciprocals of numbers ave...

The Harmonic Mean is based on the reciprocals of numbers averaged. It is defined as the reciprocal of the arithmetic mean of the reciprocal of the given individual observations. Th

Eco203, Waht is the product of £ x

Waht is the product of £ x

Write Your Message!

Captcha
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