w5_ProbBinRv_Post

w5_ProbBinRv_Post - (Midterm, 1996) Suppose you are a...

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(Midterm, 1996) Suppose you are a government employee and that three out of every ten of your telephone calls made at work are for personal reasons. The government randomly samples ten numbers that you dialed. (a) What is the expected number of personal calls? (b) What is the standard deviation? (c) What is the probability that no more than one of the calls was for personal reasons? (d) What is the probability that exactly three of the calls were for personal reasons? (e) What is the probability that more than five of the calls were for personal reasons?
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(2006, Q5) Suppose you are a consultant providing professional service to a particular industry. A major firm is interested in your service. There are three options for calculating your fee based on the performance rating. From past experience, you estimated the following probability distribution. a. For option 1, the fee equals to the performance rating multiply by $120,000. Please calculate the expectation and variance of your fee. b.
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w5_ProbBinRv_Post - (Midterm, 1996) Suppose you are a...

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