Problem 3. The average number of thefts at LeBow is three per month. (a) Estimate the...

Problem 3.

The average number of thefts at LeBow is three per month. (a) Estimate the probability, p, that at least six thefts occur at LeBow during December. (What inequality are you using?)

(b) Assume now (for parts (b), (c), and (d)) that you are told that the variance of the number of thefts at LeBow in any one month is 2. Now give an improved estimate of p (using an inequality).

(c) Give a Central Limit Theorem estimate for the probability q that during the next 5 years (12 months per year) there are more than 150 thefts at LeBow.

(d) Use an inequality to get the best bounds you can on the probability q estimated in part (c).

Expert Solution

Answer:

milcah answered 10 months ago

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