Question

3. Binomial Distribution: A real estate agent has ten properties that she shows. She feels that there is a 10% chance of selling any one property during a week. The chance of selling any one property is independent of selling another property.

1. Compute the expected number of properties to be sold in a week.
2. Compute the standard deviation of the number of properties sold each week.
3. Compute the probability of selling five properties in one week.
4. Compute the probability of selling at least three properties in one week.

4. Poisson Distribution: It has been reported that U.S airlines average about 1.6 fatalities per month. Assume that the probability distribution for x = the number of fatalities per month, can be approximated by a Poisson probability distribution.

1. What is the probability that no fatalities will occur during any given month?
2. What is the probability that one fatality will occur during any given month?
3. Find the expected value of x
4. Find the standard deviation of x.

Answer 1