Management 201 Computer Homework Help

Management 201 Computer Homework Help

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Management 201 Computer Homework Help

1. Suppose that the following formula describes the probability distribution for a discrete random variable Xfor which the possible values are { x= 1,2,3,4}
2. Find the value of c that makes this a valid discrete probability distribution.
3. Find the probability distribution for all values of x
4. Find the mean and standard deviation of the probability distribution.
5. A small motel has 20 guest rooms. The manager has accepted 25 reservations for a particular Sunday night, however, knowing from past experience that 30% of the reservations fail to appear. How likely is it the motel will have more guests than available rooms? (n=25)
6. A study in 2009 found that 60% of US workers between ages of 20-29 cash out their 401(k) retirement accounts when they lose their jobs or move to a new employer. Answer the following questions based on a random sample of 14 US workers between 20-29 who lost their jobs or change employers:
7. What is the probability that exactly 5 workers cased out their retirement account?
8. What is the probability that exactly 12 workers cashed out their retirement accounts?
9. What is the probability that exactly 12 workers did not cashout their retirement accounts?
10. What are the mean and standard deviation for this distribution (people that cashed out their retirement accounts)?
11. A particular intersection in Kentucky is equipped with a surveillance camera. The number of traffic tickets issued to drivers passing through the intersection follows the Possion distribution and averages 4.5 per month.
12. What is the probability that 7 traffic tickets will be issued at the intersection next month?
13. What is the probability that less than 3 traffic tickets will be issued at the intersection next month?
14. What is the probability that 5 or more traffic tickets will be issued at the intersection next month?
15. What is the standard deviation for this distribution?
16. The mean number of vehicles that become disabled on Interstate 80 as it crosses the Mississippi River is 1.4 per week. Assume a Poisson distribution for X= number of disable vehicles per week, and determine the following:
17. The standard deviation
18. The likelihood that one or more vehicles will become disabled in a given week.
19. P(X=3) for a given week
20. The probability of three disabled vehicles for a two-weekperiod.
21. A grocery store has 18 two-liter bottles of diet cola on the shelf, 4 of which have exceeded their shelf-life. You randomly select 3 bottles of diet cola without checking the expiration date. Determine the probability of the following(hint use the hypergeometric distribution N=18, R=4, n=3):
22. None of the bottles have exceeded their expiration date
23. At least two of the bottles have exceeded their expiration date
24. Calculate the mean of the distribution
25. Winner automotive has a current inventory of 14 used cars and 8 used trucks, 22 total vehicles. Management needs to select 10 use vehicles to participate in a special used vehicle sale. If the vehicles are selected randomly determine the probability of the following: assume hypergeometric distribution N=22, n=10.
26. 4 trucks have been selected (use R=8)
27. 4 cars have been selected (use R=14)
28. The average number of miles driven on a full tank of gas in a Hyundai Veracruz before its low-fuel light comes on is 320. Assume this mileage follows a normal distribution with a standard deviation of 30 miles. What is the probability that, before the low-fuel light comes on, the car will travel
29. Less than 330 miles on the next tank of gas?
30. More than 308 miles on the next tank of gas?
31. Between 305 and 325 miles on the next tank of gas?
32. Exactly 340 miles on the next tank of gas?
33. According to a January 2010 survey, the average daily rate for a luxury hotel in the United States is $237.22. Assume the daily rate follows a normal probability distribution with a standard deviation of $21.45. What is the probability that a randomly selected luxury hotel’s daily rate will be:
34. Less than $250?
35. More than 260?
36. Between $210 and $240?
37. The manager of a luxury hotel would like to set the hotel’s average daily rate at the 80th percentile. What rate should they choose for their hotel?
38. The average price of a 42-inch television on Best Buy’s website is $790. Assume the price of these televisions follows the normal distribution with a standard deviation of $160. What is the probability that a randomly selected television from the site sells for:
39. Less than $700?
40. Between $400 and $500?
41. Between $ 900 and $1,000?
42. In 2009 Southwest Airlines had the highest percentages of on-time flights in the airlines industry, which was 82.5% Assume this percentage still holds true for Southwest Airlines. Using the normal approximation to the binomial distribution, determine the probability that, of the next 30 Southwest Airlines flights,
43. Less than 22 flights will arrive on time
44. Exactly 26 flights will arrive on time
45. 21, 22, 23 or 24 will arrive on time
46. 24, 25, 26, 27, or 28 flights will arrive on time.
47. Suppose monthly cell phone rates are approximately normal distributed. If 90% of rates are $55 or less and if 5% of rates are $30 or less, find the distribution’s mean and standard deviation.
48. The EPA estimates that a particular automobile model will achieve a highway rating of 32 mpg. The EPA label in the car window also says “the majority of cars will achieve between 25 and 39 mpg.” Assume the highway mpg figures are normal distributed.
49. Suppose we interpret “majority of cars” to mean 95%. Find the standard deviation for the distribution of mpg figures.
50. From part a, what is the probability a car will achieve 30 or more highway mpg?
51. The amount of time a grocery customer waits in line until a checker begins “ringing up” the items is exponentially distributed with a mean of 2 minutes.
52. What is the probability a customer waits in line 5 minutes or longer before the check-out process begins?
53. Find the probability that a customer will have a wait of 1 minute or less
54. The time required for housekeeping to clean a hotel room for the next customer varies between 25 and 45 minutes and follows the continuous uniform distribution.
55. What are the mean and standard deviation for this distribution?
56. What is the probability that the next room will require exactly 30 minutes to clean?
57. What is the probability that the next room will require between 28 and 34 minutes to clean?
58. What time represents the 70th percentile of this distribution?

Management 201 Computer Homework Help

Management 201 Computer Homework Help

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