assignment 4 - from the urn. a) What is the range of X ? b)...

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Economics 249 Assignment 4 Due Friday, February 22 nd R. Baumann Directions: Answer all questions on a separate piece of paper. Please do not turn in the questions. Be sure to use full sentences and show your work where applicable. 1. Do Newbold, et al. problem 5.18 on page 148. Skip part a), and do not draw the cumulative probability function in part b). 2. There are ten balls in an urn. Three are red, four are blue, and three are green. Suppose there are five draws from the urn with replacement, i.e. after the outcome of one random draw the ball is put back into the urn. Let X be the number of green balls in five draws
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Unformatted text preview: from the urn. a) What is the range of X ? b) Find an expression for the probability distribution function of X . Graph it with P ( x ) on the vertical axis and x on the horizontal axis. c) Find an expression for the cumulative probability function of X . Graph it with ) ( a F X on the vertical axis and a on the horizontal axis. d) What is the expected value of X ? e) What is the standard deviation of X ? f) What is the probability there will be at least three green balls in five draws? 3. Do Newbold, et al. problem 5.42 on page 157....
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This note was uploaded on 04/29/2008 for the course ECON 249 taught by Professor Baumann during the Spring '08 term at Holy Cross (MA).

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