In a Poisson process, the probability of a single occurrence of the event in a given interval is proportional to the dimension of the interval.
In: Statistics and Probability
The probability that no cars will pass by a section in an hour is 0.4 (modelled as a Poisson process. Further, no car passed by in the last 2 hours. What is the probability that you have to wait at least 1 more hour (after the 2 hours) for the next car?
=1-0.4
<0.4
>0.4
=0.4
In: Statistics and Probability
By production of one type of lightbulb at a factory is the probability for a lightbulb to be defective 1%. Four lightbulbs is choosen undependent of each other, and is sold as a package.
a) What is the probability that there is no defective lightbulbs in
a package?
b) What is the probability that there is excactly one defective
lightbulb in the package, if there is defective lightbulbs in the
package?
A business recives 50 packages of 4 lightbulbes from this
factory
c) What is the probability that there is in average more than 0.1
defective lightbulbs in the 50 packages?
d) What is the probability that there is at least one defective
lightbulb in the 50 packages?
In: Statistics and Probability
How are heuristics used when assessing risk probability?
In: Statistics and Probability
A. Find the value of the mean of a sample of size 10 such that probability of finding that value of mean or less has a probability of 0.8234, when the population mean is Mu = 604, and the population standard deviation is 146
B. Find the value of the mean of a sample of size 14 such that probability of finding that value of mean or less has a probability of 0.0468, when the population mean is Mu = 129, and the population standard deviation is 27
C. Find the value of the mean of a sample of size 7 such that probability of finding that value of mean or less has a probability of 0.6775, when the population mean is Mu = 633, and the population standard deviation is 156
PLEASE SHOW WORK!! I DONT UNDESTERAND HOW TO GET THE Z-SCORE.
In: Statistics and Probability
Discuss: adjusted monthly income and the probability of mortgage approval.
In: Finance
Examine the statistical probability concept with making ethical decisions.
In: Statistics and Probability
A. How risky is the investment that gives a return of 10% with a probability of 0.20; has a 40% chance of producing an 8% return, and the remaining probability is attached to the return of 3%?
B. Find standard deviation for the following returns:
Stock XYZ
2011 -18.00%
2012 30.00
2013 15.00
2014 -2%
2015 27.00 %
In: Finance
The probability that a male will be color-blind is 0.046. Find the probabilities that in a group of 53 men, the following will be true. a. Exactly 5 are color-blind. b. No more than 5 are color-blind. c. At least 1 is color-blind.
In: Statistics and Probability
1) The _____ refers to the probability of a _____.
A. Level of significance, type I error
B. level of significance, type II error
2) Of the five steps for testing a hypothesis, _____ involves selecting a test statistic, with step 4, a _____ is formulated and with step 5, a _____ is made.
A.step 2, decision, decision
B. step 1, decision, decision
3) The most common alphas are _____, _____ and _____.
A. 0.01, 0.05, 0.10
B. 0.001, 0.002, 0.005
4) What percentage of the normal curve will contain half the total region of rejection in a two-tail test with a 0.05 level of significance?
A. 0.025
B. 0.01
5) The symbols for the mean and the standard deviation are.
A. α, μ
B. μ, σ
In: Statistics and Probability