(Answered) It is known that 15 of us home mortgages are under water ie

Statistics

It is known that 15% of US home mortgages are under water (i.e. the homeowner owes more than the house is worth). Suppose 18 mortgages are randomly selected (assume independence). Let the random variable X equal the number that are under water.

(a) What is the distribution of X? Be sure to state all parameters.

(b) Find the probability that exactly 3 are under water.

(d) Given that 1 or more are under water, determine the probability that 2 or more are underwater.

(e) On average, how many do we expect to be under water?

(f) Find V ar(X)

View complete question

Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M91982988
Price:- $25

Verified Expert

Priced at $50 Now at $25, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Statistics and Probability

Consider the following data regarding students college gpas

Consider the following data regarding students' college GPAs and high school GPAs. The estimated regression equation is Estimated College GPA=3.08+(-0.0024)(High School GPA). College GPA High School GPA 2.70 3.46 3.92 2. ...

A stocks price fluctuations are approximately normally

A stock's price fluctuations are approximately normally distributed with a mean of $26.94 and a standard deviation of $3.54. You decide to sell whenever the price reaches its highest 10% of values. What is the highest va ...

Alphonse contributes 542 per year at the end of each year

Alphonse contributes $542 per year at the end of each year to his pension plan. Assuming he can earn 6.62 per year from his plan, what is the total valve of his account at the end of 7 years?

5 of females smoke cigarettes what is the probability that

5% of females smoke cigarettes. What is the probability that the proportion of smokers in a sample of 865 females would be greater than 3%

Consider the study of two insect populations at two

Consider the study of two insect populations at two experimental stations. 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% ...

A fair coin is flipped 100 times your friend proposes a bet

A fair coin is flipped 100 times. Your friend proposes a bet where if it lands on heads 49, 50, or 51 times, you win $4, but if it lands on heads more than 51 times or less than 49 times, you lose $1. Should you take the ...

Approximately once a month cars are shipped from rotterdam

Approximately once a month cars are shipped from Rotterdam, Holland to Lagos, Nigeria. The past data collection indicates that the weight of a car is normally distributed with the mean of 1,070 kg and the standard devia ...

A student must answer 15 truefalse questions for a test but

A student must answer 15 true/false questions for a test, but the student did not study well. If the student randomly guesses on each question , what is the probability that the student answers 3 questions correctly?

A homeless shelter program wants to know if receipt of job

A homeless shelter program wants to know if receipt of job training program (yes, no) is related to program satisfaction (measured on a multi-item, Likert scale ). What type of statistical test should be used?

What considerations do you need to take when considering

What considerations do you need to take when considering "time value of money"? Why is the following statement true? "A dollar today is worth more than a dollar tomorrow."

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

Recent Questions

Ask Statistics and Probability Expert