Alan Sarkid is the president of the Dinsdale Insurance Company and he is concerned about the high cost of claims that take a long time to settle. Consequently, he has asked his chief actuary, Dr. Ivan Acke, to analyze the distribution of time until settlement. Dr. Acke has presented him with the following graph.

Problems: Probability Distributions

Define the Binomial Distribution.

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Describe characteristics of Binomial Distribution.

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Problem-01: Probability Distributions

Construct a probability distribution based on the following frequency distribution. Outcome102105108111114117 Frequency102045152015 Draw a graph of the hypothetical probability distribution. Compute the expected value of the outcome.

Problem-02: Probability Distributions

ob Walters, who frequently invests in the stock market, carefully studies any potential investment. He is currently examining the possibility of investing in the Trinity Power Company. Through studying past...

Problem-03: Probability Distributions

Construct a probability distribution based on the following frequency distribution:

Problem-04: Probability Distributions

From the following graph of a probability distribution.

Problem-05: Probability Distributions

the only information available to you regarding the probability distribution of a set of outcomes is the following list of frequencies.

Problem-06: Probability Distributions

Bill Jonson has bought a VCR from Jim's Videotape Service at a cost of $300. He now has the option of buying an extended service warranty offering 5 years of...

Problem-07: Probability Distributions

Steven T. Opsine, supervisor of traffic signals for the Fairfax Company division of the Virginia State Highway Administration, must decide whether to install a traffic light at the reportedly dangerous...

Problem-08: Probability Distributions

Alan Sarkid is the president of the Dinsdale Insurance Company and he is concerned about the high cost of claims that take a long time to settle. Consequently, he has...

Problem-09: Probability Distributions

The fire marshal of Baltimore County, Maryland, is compiling a report on single-family-dwelling fires. He has the following data on the number of such fires from the hast 2 years.

Problem-10: Probability Distributions

Ted Olson, the director of Overnight Delivery, Inc, has become concerned about the number of first-class letters lost by his firm. Because these letters are carried by both truck and...

Problem-11: Probability Distributions

Harry Byrd, the director of publications for the Baltimore Orioles is trying to decide how many programs to print for the team's upcoming three-game series with the Oakland A\s. Each...

Problem-12: Probability Distributions

Airport Rent-a-Car is a locally operated business in competition with several major firms. ARC is planning a new deal for prospective customers who want to rent a car for only...

Problem-13: Probability Distributions

We Car Air needs to make a decision about Flight 105. There are currently 3 seats reserved for last-minute customers, but the airline does not know if anyone will buy...

Problem-14: Probability Distributions

For a binomial distribution with n = 12 and p = 0.45, use Appendix Table 3 to find.

Problem-15: Probability Distributions

Find the mean and standard deviation of the following binomial distributions:

Problem-16: Probability Distributions

The latest nationwide political poll indicates that for Americans who are randomly selected, the probability that they are conservative is 0.55, the probability that they are liberal is 0.30, and...

Problem-17: Probability Distributions

For a binomial distribution with n = 7 and p = 0.2, find

Problem-18: Probability Distributions

For a binomial distribution with n = 15 and p = 0.2, use Appendix Table 3 to find

Problem-19: Probability Distributions

Find the mean and standard deviation of the following binomial distributions:

Problem-20: Probability Distributions

For n = 8 trials, compute the probability that r > 1 for each of the following values of p:

Problem-21: Probability Distributions

Harley Davidson, director of quality control for the Kyoto Motor company is conducting his monthly spot check of automatic transmissions. In this procedure, 10 transmissions are removed from the pool...

Problem-22: Probability Distributions

Diane Bruns is the mayor of a large city Lately, she become concerned about the possibility that large numbers of people who are drawing unemployment checks are secretly employed. Her...

Problem-23: Probability Distributions

A month later, Mayor Bruns picks up the morning edition of the city's leading newspaper, the sun-American, and reads an expose of unemployment fraud.

Problem-24: Probability Distributions

A recent study of how American spend their leisure time surveyed workers employed more than 5 yuears. They determined the probability an employee has 2 weeks of vacation time to...

Problem-25: Probability Distributions

Harry Ohme is in charge of the electronics section of a large department store. He has noticed that the probability that a customer who is just browsing will buy something...

Problem-26: Probability Distributions

Given = 4.2, for a poisson distribution, find

Problem-27: Probability Distributions

Given a binomial distribution with n = 28 trials and p = 0.025, use the poisson approximation to the binomial to find.

Problem-28: Probability Distributions

Given a binomial distribution with n = 30 trials and p = 0.04, use the poisson approximation to the binomial to find.

Problem-29: Probability Distributions

If the prices of new cars increase an average of four times every 3 yeaes, find the probability of

Problem-30: Probability Distributions

Given a binomial distribution with n = 25 and p = 0.032, use the poisson approximation to the binomial to find.

Problem-31: Probability Distributions

Given = 0.1 for a poisson distribution, find

Problem-32: Probability Distributions

Concert pianist Donna has become quite upset at the number of coughs occurring in the audience just before she begins to play. On her l;east tour Donna estimates that on...

Problem-33: Probability Distributions

Guy Ford, production supervisor for the Winstead Company's Charlottesville plant, is worried about an elderly employee's ability to keep up the minimum work pace. In addition to the normal daily...

Problem-34: Probability Distributions

On average, five birds hit the Washington Monument and are killed each week. Bill Garcy, an official of the National parks Service, has requested that Congress allocate funds for equipment...

Problem-35: Probability Distributions

Southwestern Electronic has developed a new calculator that performance a series of functions not yet performed by any other calculator. The marketing department is planning to demonstrate this calculator to...

Problem-36: Probability Distribution

The Orange County Dispute Settlement Center handles various kinds of disputes, but most are marital disputes. In fact, 96 percent of the disputes handled by the DSC are of a...

Problem-37: Probability Distribution

The U.S. Bureau of printing and Engraving is responsible for printing this country's paper money.

Problem-38: Probability Distribution

Use the normal approximation to compute the binomial probabilities in parts (a)-(d) below:.

Problem-39: Probability Distribution

Dennis Hogan is the supervisor for the Conowingo Hydroelectric Dam. Mr. Hogan knows that the dam's turbines generate electricity at the peak rabe only when at least 1,000,000 gallons of...

Problem-40: Probability Distribution

Given that a random variable, X, has a normal distribution with mean 6.4 and standard deviation 2.7, find

Problem-41: Probability Distribution

Given that a random variable, X, has a binomial distribution with n = 50 trials and p = 0.25, use the normal approximation to the binomial to find

Problem-42: Probability Distribution

In a normal distribution with a standard deviation of 5.0, the probability that an observation selected at random exceeds 21 is 0.14.

Problem-43: Probability Distribution

Use the normal approximation to compute the binomial probabilities in parts (a)-(e) below.

Problem-44: Probability Distribution

The manager of a small postal substation is trying to quantify the variation in the weekly demand for mailing tubes.

Problem-45: Probability Distribution

The Gilbert Machinery Company has received a big order to produce electric motors for a manufacturing a company.

Problem-46: Probability Distribution

The manager of a Spitty Lube auto lubrication shop is trying to revise his policy on ordering grease gun cartridges.

Problem-47: Probability Distribution

Jarrid Medical, Inc, is developing a compact kidney dialysis machine, but its chief engineer, Mike Crowe, is having trouble controlling the variability of the rate at which fluid moves through...

Problem-48: Probability Distribution

Sgt. Wellborn Fitte, the U>S> Army's quartermaster at Fort Riley, Kansas, prides himself on being able to find a uniform to fit virtually any recruit.

Problem-49: Probability Distribution

Glenn Howell VP of personnel for the Standard Insurance Company, has developed a new training program that is entirely self-paced.

Problem-50: Probability Distribution

On the basis of past experience, automobile inspectors in Pennsylvania have noticed that 5 percent of all cars coming in for their annual inspection fail to pass. Using the normal...

Problem-51: Probability Distribution

R. V. Poppin, the concession stand manager for the local hockey rink, just had 2 cancellations on his crew.

Problem-52: Probability Distribution

Maurine Lewis, an editor for a large publishing company, calculates that it requires 11 months on average to complete the publication process from manuscript to fi nished book, with a...

Problem-53: Probability Distribution

The Quickies Sales Corporation has just been given two conflicting estimates of sales for the upcoming quarter.

Problem-54: Probability Distribution

The Nobb Door Company manufactures doors for recreational vehicles.

Problem-55: Probability Distribution

Which probability distribution is most likely the appropriate one to use for the following variables: binomial, Poisson, or normal? The life span of a female born in 1977 The number...

Problem-56: Probability Distribution

What characteristics of a situation help to determine which is the appropriate distribution to use?

Problem-57: Probability Distribution

Explain in your own words the difference between discrete and continuous random variables. What difference do such classifications make in determining the probabilities of future events?

Problem-58: Probability Distribution

In the past 20 years, on average, only 3 percent of all checks written to the American Heart Association have bounds.

Problem-59: Probability Distribution

An inspector for the U>S> Department of Agriculture is about to visit a large meat-packing company.

Problem-60: Probability Distribution

The regional office of the Environmental Protection Agency annually hires second-year law students as summer interns to help the agency prepare court cases.

Problem-61: Probability Distribution

Label the following probability distributions as discrete or continuous.

Problem-62: Probability Distribution

Which probability distribution would you use to find binomial probabilities in the following situations: binomial, Poisson or normal?

Problem-63: Probability Distribution

The French bread made at La Fleur de Farine costs $8 per dozen baguettes to produce. Fresh bread sells at a premium, $16 per dozen baguettes, but it has a...

Problem-64: Probability Distribution

Reginald Dunfey, president of British World Airlines, is fiercely proud of his company's on-time percentage, only 2 percent of all BWA flights arrive more than 10 minutes early or late.

Problem-65: Probability Distribution

Marvin Thornbury, an attorney working for the Legal Aid Socity, estimates that on average, seven of the daily arrivals to the L.A.S.

Problem-66: Probability Distribution

The City Bank of Durham has recently begun a new credit program.

Problem-67: Probability Distribution

Anita Daybride is a Red Cross worker aiding earthquake victims in rural Colombia.

Problem-68: Probability Distribution

On average, 12 percent of those enrolled in the Federal Aviation Administration's air traffic controller training program will have to repeat the course.

Problem-69: Probability Distribution

Consider the following data about sidley and Austin, a large law firm in Chicago.

Problem-70: Probability Distribution

The Virginia Department of Health and Welfare publishes a pamphlet, A Guide to selecting your Doctor. Free copies are available to individuals, institutions, and organizations that are willing to pay...

Probability Distributions

Problem-08: Probability Distributions

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