An engineering firm with a good track record is known to have a 40% success rate...

An engineering firm with a good track record is known to have a 40% success rate in
getting state-government construction contracts. In a recent year, the firm submitted bids
on eight construction projects to be funded by the state-government. The bids for
different projects are assessed independently of each other.
i) CHOOSE which of these probability distributions is most appropriate to describe a random variable X defined as "the number of approved state-government construction contracts bid by the engineering firm in the recent year". *
X~Poisson(8)
X~Po(3.2)
X~Binomial(8,0.4)
X~Negative Binomial(8,0.4)
X~Geometric(0.4)
ii) Using the random variable X in question 1(i), which of the following mathematical expressions indicates: the probability that the engineering firm will not get any state-government construction contracts that they have bid in the recent year? *
P(X=8)
P(X > 1)
1 - P(X=0)
P(X is at most 0)
iii) Hence, which of the following answers is correct for the probability that the firm will not get any state-government construction contracts that they have bid in the recent year? *
0.0168
0.0408
0.6866
0.3134
0.9832
Y~Hypergeometric(8,2,5)
Y~Negative Binomial(2, 0.0408)
Y~Geometric(0.6)
Y~Binomial(8, 0.6)
Y~Negative Binomial(2, 0.0168)
Y~Negative Binomial(2, 0.6)

Expert Solution

IThis is the example of binomial distribution

orchestra answered 1 year ago

You have the opportunity to invest in a small seaside resort with a good track record...

You have the opportunity to invest in a small seaside resort with a good track record and a remaining service life of 20 years. The room rental income is estimated to be $500,000 per year for the first five years. Then the rental income will increase by 10% for every five-year interval over the remaining service life of this asset. The estimate for your operating expenses, including taxes, will be $200,000 the first year, and then they will increase by...

As a firm establishes a track record for performance, that performance, along with the goods or...

As a firm establishes a track record for performance, that performance, along with the goods or services it creates become key elements of the firm's and entrepreneur's identity

Subject: Engineering Economics Use an interest rate of 5% for the loan The Owls Engineering firm...

Subject: Engineering Economics Use an interest rate of 5% for the loan The Owls Engineering firm has been invited to participate in remodeling the Engineering Research Center at Temple University and need to acquire a crane with a cost of $250,000. The cost of transporting the crane to Temple University is $75,000. The project is expected to last four years and at that time the cranes will be sold at an expected salvage value of $100,000. The crane has MACRS-GDS...

At one engineering firm, several call centers are maintained to track customer complaints. Unfortunately, very few...

At one engineering firm, several call centers are maintained to track customer complaints. Unfortunately, very few employees like this job and therefore there is a lot of employee turnover. This call center uses X-Bar and s charts to track voluntary quits over time. The averages compiled below are from three call centers. The average number is 25 minutes before an employee gets frustrated and quits. The sample size was n = 5 for each month. Use the data below to...

A fertility clinic claims a 40% success rate for in-vitro fertilization (IVF). In a study involving...

A fertility clinic claims a 40% success rate for in-vitro fertilization (IVF). In a study involving 120 women who initiated IVF at the clinic, 39 live births. Is there evidence to reject the clinic’s claim at the 5% level of significance?

A well-known brokerage firm executive claimed that 40% of investors are currently confident of meeting their...

A well-known brokerage firm executive claimed that 40% of investors are currently confident of meeting their investment goals. An XYZ Investor Optimism Survey, conducted over a two week period, found that in a sample of 700 people, 42% of them said they are confident of meeting their goals. Test the claim that the proportion of people who are confident is larger than 40% at the 0.025 significance level. The null and alternative hypothesis would be: H0:μ≥0.4H0:μ≥0.4 H1:μ<0.4H1:μ<0.4 H0:μ≤0.4H0:μ≤0.4 H1:μ>0.4H1:μ>0.4 H0:μ=0.4H0:μ=0.4...

1 A well-known brokerage firm executive claimed that 40% of investors are currently confident of meeting...

1 A well-known brokerage firm executive claimed that 40% of investors are currently confident of meeting their investment goals. An XYZ Investor Optimism Survey, conducted over a two week period, found that in a sample of 100 people, 37% of them said they are confident of meeting their goals. Test the claim that the proportion of people who are confident is smaller than 40% at the 0.10 significance level. The null and alternative hypothesis would be: H0:μ=0.4 H1:μ≠0.4 H0:p≥0.4 H1:p<0.4...

Good morning, I have to write a 10-12 page essay on the Rise or Success and...

Good morning, I have to write a 10-12 page essay on the Rise or Success and Financial Aspects of CVS pharmacies. Can you help me in creating an outline? This is for a health finance course. Thanks in advance.

UNAM is known to have a completion rate of 35% with a variance of 6.25%. A...

UNAM is known to have a completion rate of 35% with a variance of 6.25%. A Research from NRCT claims that the variance of UNAM completion rate is not as reported. A sample of 26 students found to have a completion rate of 37% with a variance of 7.29%. (Show all your work and hypothesis clear steps) a) Test the Researcher's claims at the 90% level of confidence [14] b) Construct a 95% confidence interval for the population standard deviation....

1. Suppose we have a good known as Tablethas that has a PES of 0.5. Suddenly,...

1. Suppose we have a good known as Tablethas that has a PES of 0.5. Suddenly, there is a huge increase in tastes and preferences for it. What happens as a result? a. The price decreases and the quantity increases b. The price increases a little but the quantity increases a lot c. The price increases a lot but the quantity increases only a little d. The price increases a lot but the quantity falls by a lot 2. By...

Question