3. I am catching fish at the rate of 6 per hour. a. What probability distribution...

3. I am catching fish at the rate of 6 per hour. a. What probability distribution works best for this problem? Binomial, Poisson, Hypergeometric, or Normal b. What is the expected number of fish I will catch in 30 minutes? c. What is standard deviation of the number of fish I will catch in a 30 minute interval? (2 decimal places) d. What probability I will catch 4 fish in a 30 minute interval? (4 decimal places) e. What the probability I will catch at least 2 fish in a 10 minute interval? (4 decimal places)

Solutions

Expert Solution

orchestra answered 1 year ago

Next > < Previous

Related Solutions

Assume you can produce 6 fish per hour or 5 baskets of berries per hour, and...

Assume you can produce 6 fish per hour or 5 baskets of berries per hour, and your neighbor can produce 5 fish per hour or 1 basket of berries per hour. 1) •Who has the absolute advantage in catching fish? In picking berries? How did you determine your answer? 2) •What is your opportunity cost of another fish? 3) •What is your neighbor’s opportunity cost of another fish? 4)•Who has a comparative advantage in catching fish? 5)•What is your opportunity...

Jobs are sent to a printer at an average rate of 6 jobs per hour. (a)...

Jobs are sent to a printer at an average rate of 6 jobs per hour. (a) What is the expected time between jobs? [Note: Give the exact answer either in hours or in minutes.] (b) What is the probability that the next job is sent within 4 minutes? [Note: Round the answer to four decimal places.]

Sam can produce 6 donuts per hour or 18 cupcakes per hour. Milly can produce 3...

Sam can produce 6 donuts per hour or 18 cupcakes per hour. Milly can produce 3 donuts per day or 15 cupcakes per hour. Who has an absolute advantage in which product(s)? Find Sam’s opportunity costs for one donut and for one cupcake. Find Milly’s opportunity costs for one donut and for one cupcake. Sam has a comparative in which product(s)? Milly has a comparative advantage in which product(s)? Who should specialize in what product? What would be a mutually...

I am doing a kids fishing game. right now I am doing it with 15 fish...

I am doing a kids fishing game. right now I am doing it with 15 fish and number them 1-5. prize one the lowest value and prize 5 the highest value. What do I need to do for this? You can work with a partner or by yourself. I want you to invent a game with at least 12 different possible monetary outcomes. These outcomes need to include prizes other than money. You are going to charge people money (you...

I just need 3 and 5. I am not sure what I am doing wrong. I...

I just need 3 and 5. I am not sure what I am doing wrong. I get different numbers every time. Superior Markets, Inc., operates three stores in a large metropolitan area. A segmented absorption costing income statement for the company for the last quarter is given below: Superior Markets, Inc. Income Statement For the Quarter Ended September 30 Total North Store South Store East Store Sales $ 4,800,000 $ 960,000 $ 1,920,000 $ 1,920,000 Cost of goods sold 2,640,000...

Find each Poisson probability, using a mean arrival rate of 10 arrivals per hour. (a)...

Find each Poisson probability, using a mean arrival rate of 10 arrivals per hour. (a) Seven arrivals. (Round your answer to 4 decimal places.) Poisson probability (b) Three arrivals. (Round your answer to 4 decimal places.) Poisson probability (c) Fewer than five arrivals. (Round your answer to 4 decimal places.) Poisson probability (d) At least 11 arrivals. (Round your answer to 4 decimal places.) Poisson probability

Consider the market for unskilled labour where the equilibrium wage rate is $6 per hour. A....

Consider the market for unskilled labour where the equilibrium wage rate is $6 per hour. A. Suppose the government introduces a price floor of $5 on the market wage. Is price floor binding in this case? What effects will this have on the market outcome and welfare? B. Now suppose the government introduces a price floor of $7 on the market wage. Is price floor binding in this case? What effects will this have on the market outcome and welfare?...

4. Customers enter a store at a rate of 3 customers per hour. a) Compute the...

4. Customers enter a store at a rate of 3 customers per hour. a) Compute the probability that at least two, but no more than five customers enter the store in a given hour. b) Compute the probability that it takes more than 30 minutes for the first customer to enter the store this hour. c) Suppose you know that exactly 1 customer entered the store during a given hour. Compute the probability that the customer entered the store between...

Hello, I have been trying to answer this question for the last hour and I am...

Hello, I have been trying to answer this question for the last hour and I am still struggling could someone help me? The deadline is in 1hour! Perform an analysis of variance on the following data set. Do this by answering the questions below. Group 1 Group 2 Group 3 82 87 97 91 90 99 93 91 104 94 99 105 94 101 106 95 115 109 99 118 110 101 114 103 117 105 121 106 121 106...

9. At a walk-in clinic, 60 patients arrive per hour on average. What is the probability...

9. At a walk-in clinic, 60 patients arrive per hour on average. What is the probability that the receptionist needs to wait at least 2 minutes for the next patient to walk in? Round your answer to 4 decimal places. 10.Which of the following statements about discrete random variables and discrete probability distributions is/are TRUE? I. If X is a Binomial random variable, then X could take the value 1 II. The Poisson distribution is right skewed. III. The mean...

Subjects