Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Statistics and Probability Expert

A study of the time spent shopping in a supermarket for a market basket of 20 specific items showed an approximately niform distribution between 20 minutes and 40 minutes. What is the probability that the shopping time will be

a. between 25 and 30 minutes

b. less than 35 minutes

c. What are the mean and standard deviation of the shopping time?

6.29 Given an exponential distribution with the mean number of arrivals per unti = 30, what is the probability that the arrival time is

a. less than x = 0.1?

b. greater than x = 0.1?

c. between x = 0.1 and x = 0.2?

d. less than x = 0.1 or greater than x = 0.2?

6.33 Telephone calls arrive at the information desk of a large computer software company at a rate of 15 per hour.

a. What is the probability that the next call will arive within 3 minutes (0.05 hour)?

b. What is the probability that the next call will arrive within 15 minutes (0.25 hour)?

c. Suppose the company has just introducted an updated version of one of its software programs, and telephone calls are now arriving at a rate of 25 per hour. Given this information, redo (a) and (b).

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M91007077

Have any Question?


Related Questions in Statistics and Probability

Wanda is going to silver dipper ice cream shop to get a

Wanda is going to Silver Dipper Ice Cream Shop to get a treat. She has 12 flavors of ice cream to choose from. There are 6 different types of toppings, and she may get her ice cream in a bowl, a regular cone, or a waffle ...

Compounding and period as you increase the length of time

Compounding and Period: As you increase the length of time involved, what happens to future values? What happens to present values? The present value of annuity will increase as well as the future value when you increase ...

In a large university 20 of the students are business

In a large university, 20% of the students are business majors. A random sample of 100 students is selected, and their majors are recorded. 1. Compute the standard error of the proportion. 2. What is the probability that ...

Question 1 a sample of 81 account balances of a credit

Question 1: A sample of 81 account balances of a credit company showed an average balance of $1,200 with a standard deviation of $126. 1. Formulate the hypotheses that can be used to determine whether the mean of all acc ...

50 of the cars in a dealer lot are red 20 are black and 16

50% of the cars in a dealer lot are red, 20% are black, and 16% are white. The remainder are some other unspecified color. Salespersons randomly shows three cars to three different customers. What is the probability the ...

Discuss the meaning of the standard error of the estimate

Discuss the meaning of the standard error of the estimate. As you collect more data, do you expect that this standard error will increase, decrease, or stay about the same? Explain how you came to this conclusion.

For the given cash flows below assume the cash flow is the

For the given cash flows below, assume the cash flow is the same in the next 2 years. Compute the NPV for each project, and compute the incremental IRR. Compare and explain why NPV always gives the correct decision.      ...

Next time you see an elderly man check out his nose and

Next time you see an elderly man, check out his nose and ears! While most parts of the human body stop growing as we reach adulthood, studies show that noses and ears continue to grow larger throughout our lifetime. In o ...

At station a the egg hatch rate computed from a set of 100

At station A, the egg hatch rate (computed from a set of 100 eggs at a time) is known to follow approximately a normal distribution with mean 62% and standard deviation 5%. At station B, the egg hatch rates are known to ...

Returns on stocks x and y are listed belowperiod 1 2 3 4 5

Returns on stocks X and Y are listed below: Period 1 2 3 4 5 6 7 Stock X 4%7%-2%40%0%10%-1% Stock Y 2%-5%7%4%6%11%-4% Consider a portfolio of 10% stock X and 90% stock Y. What is the (population) standard deviation of po ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As