Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Statistics and Probability Expert

Question: (a) Fred visits Blotch ville again. He finds that the city has installed an electronic display at the bus stop, showing the time when the previous bus arrived. The times between arrivals of buses are still independent Exponentials with mean 10 minutes. Fred waits for the next bus, and then records the time between that bus and the previous bus. On average, what length of time between buses does he see?

(b) Fred then visits Blunder ville, where the times between buses are also 10 minutes on average, and independent. Yet to his dismay, he finds that on average he has to wait more than 1 hour for the next bus when he arrives at the bus stop! How is it possible that the average Fred-to-bus time is greater than the average bus-to-bus time even though Fred arrives at some time between two bus arrivals? Explain this intuitively, and construct a specific discrete distribution for the times between buses showing that this is possible.

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M92491226
  • Price:- $20

Priced at Now at $20, Verified Solution

Have any Question?


Related Questions in Statistics and Probability

Waterton lakes national park in alberta has 6 trails that

Waterton Lakes National Park in Alberta has 6 trails that reach the icefields. If a hiker wishes to reach the icefields in 3 different ways during a visit, how many different possibilities would there be?

Suppose you believe that johnson companys stock price is

Suppose you believe that Johnson Company's stock price is going to increase from its current level of $22.50 sometime during the next 6 months. For $250.30 you can buy a 6-month call option giving you the right to buy 10 ...

A coin is biased so that the probability of obtaining heads

A coin is biased so that the probability of obtaining heads is ¾, What is the probability of obtaining at least three heads in four tosses of the coin?

A 10-year annuity-immediate pays 100 quarterly for the

A 10-year annuity-immediate pays 100 quarterly for the first five years. Starting year 6, the annuity immediate pays 300 quarterly for the remaining five years. There is a nominal annual interest of 8% convertible quarte ...

Based on college data scores on a certain test can be seen

Based on college data, scores on a certain test can be seen as normally distributed that can show the mean of 1524 and a standard deviation of 318. What percentage of scores are greater than 1842 and if needed round to t ...

Ryan braun has just tested positive for gorilla growth

Ryan Braun has just tested positive for Gorilla Growth hormone. You are his lawyer. Given the following information, do you think you could get him off? Explain your reasoning. P(positive test | drug use) = 0.99 P(positi ...

Your client is going to be traveling to las vegas in the

Your client is going to be traveling to Las Vegas in the near future and he wants to place some bets on his favorite professional baseball team. To ensure he knows the odds on his bets he wants to know the probability of ...

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 premium? Would we ever expect a zero coupon bond to sell at a premium? Explain.

A school district is trying to estimate the proportion of

A school district is trying to estimate the proportion of students at the high school who would eat a school breakfast if the cafeteria were opened to students at 6 am. A new employer opened up within the district and th ...

Suppose a stock has just paid a 44 per share dividend d0

Suppose a stock has just paid a $4.4 per share dividend (D 0 ). The dividend is projected to grow at 15% for the  next three  years, then 6% thereafter indefinitely. What should be the amount of  dividend  in  four  year ...

  • 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