Chapter 4: Q168SE (page 281)
Assume that xhas an exponential distribution with.
Find
a.
b.
c.
d.
e.
Short Answer
- role="math" localid="1660277023394"
- role="math" localid="1660277013921"
Chapter 4: Q168SE (page 281)
Assume that xhas an exponential distribution with.
Find
a.
b.
c.
d.
e.
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Get started for freeIdentify the type of random variable—binomial, Poisson or hypergeometric—described by each of the following probability distributions:
a.
b.
c.
Do social robots walk or roll? Refer to the International Conference on Social Robotics (Vol. 6414, 2010) study of the trend in the design of social robots, Exercise 2.3 (p. 72). Recall that in a random sample of 106 social (or service) robots designed to entertain, educate, and care for human users, 63 were built with legs only, 20 with wheels only, 8 with both legs and wheels, and 15 with neither legs nor wheels. Assume the following: Of the 63 robots with legs only, 50 have two legs, 5 have three legs, and 8 have four legs; of the 8 robots with both legs and wheels, all 8 have two legs. Suppose one of the 106 social robots is randomly selected. Let x equal the number of legs on the robot.
When to replace a maintenance system. An article in the Journal of Quality of Maintenance Engineering (Vol. 19,2013) studied the problem of finding the optimal replacement policy for a maintenance system. Consider a system that is tested every 12 hours. The test will determine whether there are any flaws in the system. Assume that the probability of no flaw being detected is .85. If a flaw (failure) is detected, the system is repaired. Following the fifth failed test, the system is completely replaced. Now, let x represent the number of tests until the system needs to be replaced.
a. Give the probability distribution for x as a formula.
b. Find the probability that the system needs to be replaced after 8 total tests.
Types of finance random variables. Security analysts are professionals who devote full-time efforts to evaluating the investment worth of a narrow list of stocks. The following variables are of interest to security analysts. Which are discrete and which are continuous random variables?
a. The closing price of a particular stock on the New York Stock Exchange.
b. The number of shares of a particular stock that are traded each business day.
c. The quarterly earnings of a particular firm.
d. The percentage change in earnings between last year and this year for a particular firm.
e. The number of new products introduced per year by a firm.
f. The time until a pharmaceutical company gains approval from the U.S. Food and Drug Administration to market a new drug.
Purchasing decision. Suppose you are a purchasing officer for a large company. You have purchased 5 million electrical switches, and your supplier has guaranteed that the shipment will contain no more than .1% defectives. To check the shipment, you randomly sample 500 switches, test them, and find that four are defective. Based on this evidence, do you think the supplier has complied with the guarantee? Explain
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