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A student taking Management Science 301 at East Haven University will receive one of the five possible grades for the course: A, B, C, D, or F. The distribution of grades over the past two years is as follows:
GRADE | NUMBER OF STUDENTS |
---|---|
A | 80 |
B | 75 |
C | 90 |
D | 30 |
F | 25 |
Total | 300 |
If this past distribution is a good indicator of future grades, what is the probability of a student receiving a C in the course?
A silver dollar is flipped twice. Calculate the probability of each of the following occurring:
Which of the following are probability distributions? Why?
RANDOM VARIABLE X | PROBABILITY |
---|---|
2 | 0.1 |
–1 | 0.2 |
0 | 0.3 |
1 | 0.25 |
2 | 0.15 |
RANDOM VARIABLE Y | PROBABILITY |
---|---|
1 | 1.1 |
1.5 | 0.2 |
2 | 0.3 |
2. | 0.25 |
3 | –1.25 |
RANDOM VARIABLE Z | PROBABILITY |
---|---|
1 | 0.1 |
2 | 0.2 |
3 | 0.3 |
4 | 0.4 |
5 | 0.0 |
What are the expected value and variance of the following probability distribution?
RANDOM VARIABLE X | PROBABILITY |
---|---|
1 | 0.05 |
2 | 0.05 |
3 | 0.10 |
4 | 0.10 |
5 | 0.15 |
6 | 0.15 |
7 | 0.25 |
8 | 0.15 |
The time to complete a construction project is normally distributed with a mean of 60 weeks and a standard deviation of 4 weeks.
Policy Pollsters is a market research firm specializing in political polls. Records indicate in past elections, when a candidate was elected, Policy Pollsters had accurately predicted this 80 percent of the time and they were wrong 20% of the time. Records also show for losing candidates, Policy Pollsters accurately predicted they would lose 90 percent of the time and they were only wrong 10% of the time. Before the poll is taken, there is a 50% chance of winning the election. If Policy Pollsters predicts a candidate will win the election, what is the probability that the candidate will actually win? If Policy Pollsters predicts that a candidate will lose the election, what is the probability that the candidate will actually lose?