Consumer Banker Association released a report showing the lengths of automobile leases for new automobiles. The results are as follows.
| Lease Length in Months | Percent of Leases |
| 13-24 25-36 37-48 49-60 More than 60 |
14.8% 36.4% 29.5% 18.6% 0.7% |
(a) Use the midpoint of each class, and call the midpoint of the last class 66.5 months, for purposes of computing the expected lease term. Also find the standard deviation of the distribution. (Round your answers to two decimal places.)
| expected lease term | months |
| standard deviation |
(b) Sketch a graph of the probability distribution for the duration
of new auto leases.
In: Statistics and Probability
In an ideal Rankine cycle with reheat, superheated steam vapor
enters the turbine at 10 MPa and
480 °C, while the condenser pressure is 6 kPa. Steam expands
through the first-stage turbine to
0.7 MPa and then is reheated to 480 °C
a) Calculate the total heat addition, net work of the cycle, heat
extraction through condenser,
and thermal efficiency of this ideal Rankine cycle with reheat.
[25]
b) Calculate the same quantities assuming that the pump and each
turbine stage have an
isentropic efficiency of 80%. [25]
c) Draw p-v diagrams for these two
cycles
do only part c)
In: Mechanical Engineering
Yoonie is a personnel manager in a large corporation. Each month she must review 36 of the employees. From past experience, she has found that one review takes her about 2.6 hours each to do on average, with a population standard deviation of 0.7 hours. Let X be the random variable representing the time it takes her to complete one review. Assume X is normally distributed. Let be the random variable representing the mean time to complete the 36 reviews. Assume that the 36 reviews represent a random set of reviews. Find the probability that the mean of a month's reviews will be between 2.3 and 2.9 hours.
In: Statistics and Probability
1-Find the volume of the solid formed by rotating the region
enclosed by
y=e^1x+2, y=0, x=0, x=0.7
about the y-axis.
2-Use cylindrical shells to find the volume of the solid formed
by rotating the area between the graph of x=y^9/2 andx=0,0≤y≤1
about the x-axis.
Volume = ∫10f(y)dy∫01f(y)dy where, find the f(y) and the voume.
3- x=y^5/2 andx=0,0≤y≤1 about the line y = 2 to find the volume and the f(y) by the cylindrical shells
In: Math
Consumer Banker Association released a report showing the lengths of automobile leases for new automobiles. The results are as follows.
| Lease Length in Months | Percent of Leases |
| 13-24 25-36 37-48 49-60 More than 60 |
12.7% 38.8% 27.7% 20.1% 0.7% |
(a) Use the midpoint of each class, and call the midpoint of the last class 66.5 months, for purposes of computing the expected lease term. Also find the standard deviation of the distribution. (Round your answers to two decimal places.)
| expected lease term | months |
| standard deviation |
(b) Sketch a graph of the probability distribution for the duration
of new auto leases.
In: Statistics and Probability
Each of the two wheels of a motor bike have a mass of mw = 10
kg, radius of rw = 330 mm, and radius of gyration kw = 0.25 m. A
motor bike and rider with a total mass of m = 206 kg travels round
a bend of radius R = 80 m at a speed of 135 km/h. The engine
rotates in the same sense as the wheels and at four times their
speed. The engine rotating parts have mass of me = 12 kg and radius
of gyration ke = 0.08 m. The combined center of gravity of the
cycle and the rider is 0.7 m. Determine
1.1 the angle of banking of the track for a smooth ride without
slip
In: Mechanical Engineering
instructions- You have to use Python in order to do this Problem Set.
4 Cobb-Douglas Production Function Suppose a firm uses the following production function Y = z × K0.3 × N 0.7 d , where Y is output, z is TFP, K is capital, and Nd is labor. 1. Set z = 10, K = 5 and plot the production function over the range Nd ∈ [0, 5] 2. Derive this function w.r.t. Nd.Set z = 10, K = 5, and plot the marginal product of labor (MPN) over the range Nd ∈ [0, 5] 3. What does the MPN measure. Explain in words.
In: Economics
Researchers investigated the issue of race and equality of access to clinical trials. The following table shows the population distribution and the numbers of participants in clinical trials involving lung cancer. Use a 0.01 significance level to test the claim that the distribution of clinical trial participants fits well with the population distribution. Is ther a race/ethnic group that appears to be very under-represented?
| Race/ ethnicity | White/ Non-hispanic | Hispanic | Black | Asian/ Pacific Islander | American Indian/ Alaskan Native |
| Distribution of population | 5.6% | 9.1% | 10.8% | 3.8% | 0.7% |
| Number in Lung Cancer clinical trials | 3855 | 60 | 316 | 54 | 12 |
In: Statistics and Probability
Suppose you take out a 20-year mortgage for a house that costs $332,294. Assume the following: The annual interest rate on the mortgage is 4%. The bank requires a minimum down payment of 18% at the time of the loan. The annual property tax is 1.6% of the cost of the house. The annual homeowner's insurance is 0.7% of the cost of the house. The monthly PMI is $70 Your other long-term debts require payments of $937 per month. If you make the minimum down payment, what is the minimum gross monthly salary you must earn in order to satisfy the 28% rule and the 36% rule simultaneously? Round your answer to the nearest dollar.
In: Finance
For each problem, write an R code to compute each probability.
(a) Binomial Distribution: X ~ Bin(10, 0.7)
(i) P(X = 2)
(ii) P(X < 2)
(iii) P(X > 2)
(iv) P(1 < X < 7)
(b) Normal Distribution: X ~ N(0, 4). Note that variance is 4 and, hence, the standard deviation is 2.
(i) P(X < 3)
(ii) P(X > 3)
(iii) P(1 < X < 3)
(c) Choose either (a) or (b) and interpret the results in a real-life scenario. Make sure to define X and interpret each probability.
In: Statistics and Probability