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STATISTICS FOR SOCIAL SCIENCES
BUS 152
___________________________________________________________________________
PROBLEM SET  3
SOME BASIC DISCRETE PROBABILITY DISTRIBUTIONS
Problem 1 (5.1)
Given the following probability distribution:
Distribution A
Distribution B
X
P(X)
X
P(X)
0
0.50
0
0.05
1
0.20
1
0.10
2
0.15
2
0.15
3
0.10
3
0.20
4
0.05
4
0.50
a.
Compute the expected value for each distribution.
b.
Compute the standard deviation for each distribution.
c.
Compare and contrast the results of distributions
A
and
B
.
Problem 2 (5.3)
Using the company records for the past 500 working days, the manager of Konig Motors, a suburban
automobile dealership, has summarized the number of cars sold per day into the following table:
Number of Cars
Sold per Day
Frequency of
Occurrence
0
40
1
100
2
142
3
66
4
36
5
30
6
26
7
20
8
16
9
14
10
8
11
2
Total
500
a.
Form the probability distribution for the number of cars sold per day?
b.
Compute the mean or expected number of cars sold per day?
c.
Compute the standard deviation?
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View Full Document Problem 3
Using the local branch office records of a bank for the past 2 years (520 weeks), the manager of the
bank has summarized the number of mortgages approved per week into the following table.
Approved Home
Mortgages per
Week
Frequency of
Occurrence
0
52
1
104
2
208
3
78
4
52
5
26
Total
520
a.
Form the probability distribution for the number of approved mortgages per week?
b.
Compute the mean or expected number of approved mortgages per week?
c.
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This note was uploaded on 12/22/2011 for the course BUSINESS bus 152 taught by Professor Çeşmecibaşı during the Spring '11 term at Middle East Technical University.
 Spring '11
 çeşmecibaşı
 Accounting

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