BUSI 230 HW 6.1 Random Variables Assignment solutions complete answers
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Select the appropriate word or phrase to complete the sentence.
A numerical outcome of a probability experiment is called .
The sum of all the probabilities in a discrete probability distribution must be equal to .
Determine whether the random variable described is discrete or continuous.
The length of life of a washing machine.
The weight of a randomly chosen student's backpack.
The temperature readings by a randomly selected city in the month of August.
The number of spades in a 5 card poker hand dealt from an ordinary deck of 52 cards.
The number of dental visits a randomly chosen person had for the past 5 years.
The time of a randomly chosen city employee to get to work.
The number of pets a randomly chosen family may have.
The time it takes to drive to the airport.
The number of people in line at the bank at a randomly chosen time.
The number of attendees at a cinema on a Friday night.
The amount of time of a randomly chosen college student to complete a statistical final exam.
Find the similar data and choose the answer
Determine whether the table represents a discrete probability distribution. Explain why or why not.
Compute the mean and standard deviation of the random variable with the given discrete probability distribution.
(a) Find the mean. Round the answer to three decimal places, if necessary.
(b) Find the standard deviation. Round the answer to at least three decimal places.
Fill in the missing value so that the following table represents a probability distribution.
Put some air in your tires: Let X represent the number of tires with low air pressure on a randomly chosen car. The probability distribution of X is as follows.
Texting: Five teenagers are selected at random. Let X be the number of them who have sent text messages on their cell phones within the past 30 days. According to a study by the Nielsen Company, the probability distribution of X is as follows:
Lottery: In the New York State Numbers lottery, you pay $3 and can bet that the sum of the numbers that come up is 13. The probability of winning is 0.095, and if you win, you win $8.50, which is a profit of $5.5. If you lose, you lose $3.
(a) What is the expected value of your profit? Round the answer to two decimal places.
(b) Is it an expected gain or an expected loss? Round the answer to two decimal places.
Craps: In the game of craps, a pair of dice are rolled, and people bet on the outcome. For example, you can bet $1 that the dice will total 2. The probability that you win is 1/36, and if you win, your profit is $30. If you lose, you lose $1.
(a) What is the expected value of your profit? Round the answer to two decimal places.
(b) Is it an expected gain or an expected loss? Round the answer to two decimal places.
