Practice for Exam 2(Chapter 5, 6, 7)

Practice for Exam 2(Chapter 5, 6, 7) - P ractice for Exam...

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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 ). b. Determine the variance and the standard deviation. ANS: a. 4.14 b. variance = 3.7 std. dev. = 1.924 Chapter 6 2. The price of a stock is uniformly distributed between $30 and $40. a. What is the probability that the stock price will be more than $37? b. What is the probability that the stock price will be less than or equal to $32?
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c. What is the probability that the stock price will be between $34 and $38? d. Determine the expected price of the stock. e. Determine the standard deviation for the stock price. ANS: a. 0.3 b. 0.2 c. 0.4 d. $35 e. $2.89 3. The time it takes to hand carve a guitar neck is uniformly distributed between 110 and 190 minutes. a. What is the probability that a guitar neck can be carved between 95 and 165 minutes? b.
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Practice for Exam 2(Chapter 5, 6, 7) - P ractice for Exam...

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