Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Statistics and Probability Expert

General guidelines:

a) The assignment must be produced in Microsoft Word and a printed copy requires to be submitted by the due date.

b) You might use Microsoft Excel or any statistical software. Please set in or copy and paste any relevant outputs into the Microsoft Word document.

c) Answer all five problems and clearly illustrate your workings (that is, how you developed your answer). If your tutor or lecturer can’t readily comprehend your calculation steps and assumptions, they might be unable to award you full marks for your answers.

d) This is an individual assignment. Students who are found to have copied other student’s work or shared their work with other students will be subject to profound penalties. (Note: Please see the STA1000 Subject Outline for a explanation of the Kaplan Business School requirements for academic integrity).

problem:

You are a data analyst working for the Australian Petrol Pricing Commissioner and have been requested to give a comprehensive statistical summary of the NSW fuel price data (FUEL_2011nsw). In addition, you are to compare petrol and diesel prices. How you do this is up to you, however you must comprise relevant tables, graphs and numerical summary measures presented in a professional style. You should as well summarize your findings on the fuel prices in two or three sentences.

problem:

The Melbourne Cup, held on the first Tuesday in November, has 24 horses entered in it.

a) What is the probability of winning a prize in an office sweep (where horses are randomly allocated), if prizes are provided for first, second and third places?

b) In a trifecta three horses are chosen to finish first, second and third in the correct order. How many possible trifectas are there in the Melbourne Cup?

c) How many combinations of the horses winning a place (first, second or third) are not trifectas? That is, the chosen horses finish first, second and third but not in the accurate order.

d) Assume you have a sweep ticket (where horses are randomly allocated) for the trifecta. What is your probability of winning the major prize (the trifecta) or a consolation prize (containing three winning horses but in the wrong order)?

problem:

In a certain weekday television show, the winning contestant has to select randomly from 20 boxes, one of which contains a major prize of $100,000.

a) What is the probability that, during a week (i.e., Monday to Friday - five shows per week),

•    No contestants win the major prize?
•    Exactly one contestant wins the major prize?
•    No more than two contestants win the major prize?
•    At least three contestants win the major prize?

b) Compute the expected number and standard deviation of the winners in a week.

c) How much should the producers budget for major prizes per week?

problem:

The State fire service has lately set up a specialist rescue unit to respond to road traffic accidents in the region surrounding a small country town. The rescue unit has been in operation for 60 weeks and has been called out 120 times to attend road traffic accidents. The weekly pattern of call out has a Poisson distribution. Determine the:

a) Mean demand per week.
b) Probability which the rescue unit will be called out in a week.
c) Probability which the rescue unit is called out at least twice in a week.
d) Probability which the rescue unit is called out at least once in a two week period.

problem:

The weight of potato chip packets is normally distributed with a mean of 510 g and a standard deviation of 20g.

a) Find out the probability that a packet of chips will be below the labeled weight of 500g.
b) The packet can only contain 550g or else it will overflow. Find out the probability of a packet overflowing.
c) The lightest 5% of packets are refused at quality control.  At what weight does this take place?
d) What is the minimum weight of a packet that is in the heaviest 5 percent?

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M977

Have any Question? 


Related Questions in Statistics and Probability

It has been argued that although there may be more claims

It has been argued that although there may be more claims when road conditions are slippery in the winter, this should not affect the average claim. Malpeque took a sample of 50 claims from the winter of 2018 and found t ...

How does a firm navigate strategic management in the

How does a firm navigate strategic management in the context of an international environment? What complications does an international environment provide? What are the benefits of operating in an international environme ...

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 intermediate calculations. Round your answer to 2 decimal places.)

You work at patty king home of the cinnamon roll breakfast

You work at Patty King, home of the Cinnamon Roll Breakfast Sandwich, as the manager of the early morning shift. You want to estimate the probability that at least 5 customers enter the store in the next 10 minutes. Woul ...

A clinical psychologist is the primary therapist for 18

A clinical psychologist is the primary therapist for 18 patients. She randomly selects a sample of 3 patients to be in her study. How many different samples of this size can be selected from this population of 18 patient ...

1 approximately 20 of corporate workforce are not happy

1) Approximately 20% of corporate workforce are not happy with their immediate bosses. Suppose 10 workers working in corporates are randomly selected. a) What is the probability that everybody of them is happy with his i ...

You are working with a moe of -4 and a confidence level of

You are working with a MOE of +/-4% and a confidence level of 95%. P and Q =.50, and your CPI is $25.00. The company you work for needs to make a decision as to whether they may need different advertising for men and wom ...

Homework nbsp- conditional probability amp bayesian

Homework  - Conditional Probability & Bayesian Analysis 1) Questions: a. Consider rolling a 6 sided die 100 times to determine the number of times a "1" occurs: i. This is an example of what type of probability? ii. What ...

A laboratory worker finds that the 3 of his blood samples

A laboratory worker finds that the 3% of his blood samples test positive for the HIV virus. In a random sample of 70 blood tests, what is the mean number that test positive for the HIV virus? (Round your answer to 1 deci ...

The distance between the y value in the data and the

The distance between the Y value in the data and the predicted Y value from the regression equation is known as the residual. What is the value for the sum of the squared residuals?

  • 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