Question

In: Statistics and Probability

Gru's schemes have a/an 9% chance of succeeding. An agent of the Anti-Villain League obtains access...

Gru's schemes have a/an 9% chance of succeeding. An agent of the Anti-Villain League obtains access to a simple random sample of 1100 of Gru's upcoming schemes.
Find the probability that...
(Answers should be to four places after the decimal, using chart method, do NOT use the continuity correction):

...between 95 and 101 schemes will succeed:

...less than 8.5% of schemes will succeed:

...more than 9.5% of schemes will succeed:

...between 8.5% and 9.5% of schemes will succeed:

Solutions

Expert Solution

(a)

n = 1100

p = 0.09

q = 1 -p = 0.91

To fond P(95 < X < 101):
For X = 95:
Z = (95 - 99)/9.4916

= - 0.4214

By Technology, Cumulative Area Under Standard Normal Curve = 0.3367

For X = 101:
Z = (101 - 99)/9.4916

= 0.2107

By Technology, Cumulative Area Under Standard Normal Curve = 0.5834

So

P(95 < X < 101):= 0.5834 - 0.3367 = 0.2467

So,

Answer is:

0.2467

(b)

n = 1100

p = 0.09

q = 1 - p = 0.91

SE =

To find P( < 0.085):

Z = (0.085 - 0.09)/0.008629

= - 0.5794

By Technology, Cumulative Area Under Standard Normal Curve = 0.2812

So,

P(<0.085):=0.2812

So,

Answer is:

0.2812

(c)

n = 1100

p = 0.09

q = 1 - p = 0.91

SE =

To find P( > 0.095):

Z = (0.095 - 0.09)/0.008629

= 0.5794

By Technology, Cumulative Area Under Standard Normal Curve = 0.7188

So,

P( > 0.095) = 1 - 0.7188 = 0.2812

So,

Answer is:

0.2812

(d)

n = 1100

p = 0.09

q = 1 - p = 0.91

SE =

To find P(0.085 < < 0.095):

For = 0.085:

Z = (0.085 - 0.09)/0.008629

= - 0.5794

By Technology, Cumulative Area Under Standard Normal Curve = 0.2812

For = 0.095:

Z = (0.095 - 0.09)/0.008629

= 0.5794

By Technology, Cumulative Area Under Standard Normal Curve = 0.7188

So,

P(0.085 < < 0.095):= 0.7188 - 0.2812 = 0.4376

So,

Answer is:

0.4376


Related Solutions

Gru's schemes have a/an 9% chance of succeeding. An agent of the Anti-Villain League obtains access...
Gru's schemes have a/an 9% chance of succeeding. An agent of the Anti-Villain League obtains access to a simple random sample of 1100 of Gru's upcoming schemes. Find the probability that... (Answers should be to four places after the decimal, using chart method, do NOT use the continuity correction): ...less than 101 schemes will succeed:    ...more than 95 schemes will succeed: ...between 95 and 101 schemes will succeed:   ...less than 8.5% of schemes will succeed: ...more than 9.5% of schemes...
Gru's schemes have a/an 11% chance of succeeding. An agent of the Anti-Villain League obtains access...
Gru's schemes have a/an 11% chance of succeeding. An agent of the Anti-Villain League obtains access to a simple random sample of 1100 of Gru's upcoming schemes. Find the probability that... (Answers should be to four places after the decimal, using chart method, do NOT use the continuity correction): ...less than 101 schemes will succeed: ...more than 95 schemes will succeed: ...between 95 and 101 schemes will succeed: ...less than 8.5% of schemes will succeed: ...more than 9.5% of schemes...
Suppose the indifference curves of a perfect substitutes agent have a slope of -9/7. Good x...
Suppose the indifference curves of a perfect substitutes agent have a slope of -9/7. Good x is the numéraire. What would ?? need to be in order to create the “degenerate case” (whereby the agent is indifferent between everything on his budget line)?
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT