Practice for Exam 2(Chapter 5, 6, 7) without Answers

Practice for Exam 2(Chapter 5, 6, 7) without Answers - Lily...

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Lily Le _ QA 233-002 _ Fall 09 Practice for Exam 2 (Chapter 5, 6, and 7) Chapter 5 1. For the following probability distribution: x f( x ) 0 0.01 1 0.02 2 0.10 3 0.35 4 0.20 5 0.11 6 0.08 7 0.05 8 0.04 9 0.03 10 0.01 a. Determine E( x ). E (x) = ∑ xf(x) = 4.14 b. Determine the variance and the standard deviation. Var( x ) = s 2 = ∑ (x-µ) 2 f(x) = 3.7004 Standard deviation = 1.924
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Chapter 6 2. The price of a stock is uniformly distributed between $30 and $40. f ( x ) = 1/10 for 30 < x < 40 = 0 elsewhere Where x equals to the price of stock a = 30, b = 40 a. What is the probability that the stock price will be more than $37? P(37<x< 40) = 1/10(3) = 0.3 b. What is the probability that the stock price will be less than or equal to $32? P(30 < x < 32) = 1/10(2) = 0.2 c. What is the probability that the stock price will be between $34 and $38? P(34< x < 38)= 1/10(4) = 0.4 d. Determine the expected price of the stock. E(x) = (a+b) / 2 = (30+40)/2 = 35 e. Determine the standard deviation for the stock price. Var(x) = (b-a) 2 /12 = (40-30) 2 /12 = 8.33 So the standard deviation for the stock price is 2.89 3. The time it takes to hand carve a guitar neck is uniformly distributed between 110 and 190 minutes. f
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Practice for Exam 2(Chapter 5, 6, 7) without Answers - Lily...

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