prob-it-is-claimed-that-proactine-a-new-medicine-for-acne-is-75-percent-effective-it-is-applied-to-the-affected

changing-the-system-read-institute-of-medicine
November 8, 2018
develop the criteria and systems
November 8, 2018

prob-it-is-claimed-that-proactine-a-new-medicine-for-acne-is-75-percent-effective-it-is-applied-to-the-affected

value:
10.00 points

It is claimed that Proactine, a new medicine for acne, is 75 percent effective. It is applied to the affected area of a group of 15 people. Calculate the probability for the following (Round your answers to 3 decimal places):
(a) All 15 will show significant improvement
Probability
(b) Fewer than 9 of 15 will show significant improvement
Probability
(c) That 12 or more people will show significant improvement
Probability

2.

value:
10.00 points

A study of the attendance at the University of Alabama’s basketball games revealed that the distribution of attendance is normally distributed with a mean of 9,600 and a standard deviation of 1,800.
(a) What is the probability a particular game has an attendance of 13,500 or more? (Round z-score computation to 2 decimal places and your final answer to 4 decimal places.)
Probability
(b) What percent of the games have an attendance between 8,000 and 11,500? (Round z-score computation to 2 decimal places and your final answer to 4 decimal places.)
Probability
(c) Ten percent of the games have an attendance of how many or less?
Attendance

3.

value:
10.00 points

The distribution of the number of school-age children per family in the Whitehall Estates area of Boise, Idaho, is:
Number of children 0 1 2 3 4
Percent of families 25 30 40 3 2

(a) Determine the mean and standard deviation of the number of school-age children per family in Whitehall Estates. (Round your answers to 2 decimal places.)
Mean
Standard deviation

(b) A new school is planned in Whitehall Estates. An estimate of the number of school-age children is needed. There are 500 family units. How many children would you estimate?
Children
Some additional information is needed about only the families having children.
(c-1) Convert the preceding distribution to one for families with children. (Round your answers to 5 decimal places.)
Number of
Children (X)
Probability
given Children P(X)
1
2
3
4




(c-2) What is the mean number of children among families that have children? (Round your answer to 2 decimal places.)
Mean

4.

value:
10.00 points

First National Bank thoroughly investigates its applicants for small home-improvement loans. Its default record is very impressive: The probability that a homeowner will default is only .005. The bank has approved 400 small home-improvement loans. Assuming the Poisson probability distribution applies to this problem:
(a) What is the probability that no homeowners out of the 400 will default? (Round your answer to 4 decimal places.)
Probability
(b) How many of the 400 are expected not to default?
Expected value
(c) What is the probability that 3 or more homeowners will default on their small home-improvement loans?(Round your answer to 4 decimal places.)
Probability

5.

value:
10.00 points

Daniel-James Insurance Company will insure an offshore Mobil Oil production platform against weather losses for one year. The president of Daniel-James estimates the following losses for that platform (in millions of dollars) with the accompanying probabilities:
Amount of Loss
($ millions)
Probability
of Loss
0 .98
40 .016
300 .004

.mcgraw-hill.com/sites/dl/free/0073401803/887798/Review_4_e15.xls”> Click here for the Excel Data File
(a) What is the expected amount Daniel-James will have to pay to Mobil in claims? (Enter your answer in millions to 2 decimal places. Omit the “$” sign in your response.)
Expected amount $  million
(b) What is the likelihood that Daniel-James will actually lose less than the expected amount? (Round your answer to 2 decimal places.)
Probability
(c) Given that Daniel-James suffers a loss, what is the likelihood that it is for $300 million? (Round your answer to 2 decimal places.)
Probability
(d) Daniel-James has set the annual premium at $2.0 million. Does that seem like a fair premium? Will it cover its risk?
(Click to select)
Yes
No

6.

value:
10.00 points

The manager of Tee Shirt Emporium reports that the mean number of shirts sold per week is 1,170 with a standard deviation of 315. The distribution of sales follows the normal distribution.
What is the likelihood of selecting a sample of 25 weeks and finding the sample mean to be 1,100 or less?(Round z value to 2 decimal places and final answer to 4 decimal places.)
Probability

7.

value:
10.00 points

The manager of Tee Shirt Emporium reports that the mean number of shirts sold per week is 1,210, with a standard deviation of 325. The distribution of sales follows the normal distribution.
What is the likelihood of selecting a sample of 25 weeks and finding the sample mean to be 1,100 or less?(Round z value to 2 decimal places and final answer to 4 decimal places.)

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