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Math-353-27.pdf - First Mid Term, S1-1443H M 380 –...

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1ــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــAnswer the following questions:(Note that SND Table is attached in page 3)Q1: [4+5]a)A company has three suppliers, designated A, B and C. The relative amounts ofa certain product purchased from each of the suppliers are 50%, 35% and 15%,respectively. If the proportion defective produced by each supplier are 1%, 2% and3%, respectively. Find the overall proportion defective of that product.b)Suppose that the priceXof a particular stock at closing has a log-normaldistribution with mean $30 and variance 5. What is the probability that the priceexceeds $35 ?

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Term
Fall
Professor
NoProfessor
Tags
Probability theory

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