HW_7_S10[1]

HW_7_S10[1] - AEM 2100 Spring 2010 Homework 7 1 2 Name From...

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AEM 2100 Name: _________________ Spring 2010 Homework 7 1.) From your text, Pg. 265, #6.48 (not in older edition). 2.) In a certain store, the probability is 0.03 that the scanned price in the bar code scanner will not match the advertised price. The cashier scans 800 items. a.) What is the expected number of mismatches? The standard deviation? b.) What is the probability of at least 20 mismatches? c.) What is the probability of more than 30 mismatches? d.) What is the probability of between 10 and 20 mismatches, inclusive? 3.) ACNielsen is a New York based corporation and a member of the modern marketing research industry. One of the items that ACNielsen tracks is the expenditure on over-the-counter (OTC) cough medicines. ACNielsen recently indicated that consumers spent $620 million on OTC cough medicine in the United States. The article also indicated that nearly 30 million visits for coughs were made to doctors’ offices in the United States. a.) What is the average cost of OTC cough medicines per doctor’s office visit based on 30 million purchases. b.) Assuming that the average cost indicated in part a is the true average cost of OTC cough medicines per doctor’s visit and the standard deviation is $10, determine the probability that the average cost for a random selection of 30 individuals will result in an average expenditure of more than $25 in OTC cough medicines. c.) Determine the 90 th percentile for the average cost of OTC cough medicines for a sample of 36 individuals, all of whom have visited a doctor’s office for cough symptoms. 4.) If 30% of all students entering a certain university drop out during or at the end of their first year, what is the probability that more than 600 of this year’s entering class of 1800 will drop out during or at the end of their first year? 5.) In a population of 800 stations, the mean cash price for regular gasoline at the pump was $3.007 and the standard deviation was $0.009. A random sample of size 55 is drawn from this population. What is the probability that the mean price per gallon is less than $3.005?
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HW_7_S10[1] - AEM 2100 Spring 2010 Homework 7 1 2 Name From...

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