Unformatted text preview: p is flipped 10 times. Given that a total of 6 heads result, find the conditional probability that the first 3 outcomes are a. h , t , t (meaning that the first flip is heads, the second is tails and the third is tails); b. t , h , t . 5. How many people are needed so that the probability that at least one of them has the same birthday as you is greater than ½? Solve it by using random variable properties. 6. A newsboy purchases papers at 10 cents and sells them at 15 cents. However, he is not allowed to return unsold papers. If his daily demand is a binomial random variable with n = 10, p = 1/3, approximately how many papers should he purchase so as to maximize his expected profit?...
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This note was uploaded on 05/12/2011 for the course INDUSTRIAL 321 taught by Professor Memet during the Spring '11 term at Mitchell Technical Institute.
- Spring '11