PROBLEM SET-3 Discrete Probability

PROBLEM SET-3 - STATISTICS FOR SOCIAL SCIENCES BUS 152 PROBLEM SET 3 SOME BASIC DISCRETE PROBABILITY DISTRIBUTIONS Problem 1(5.1 Given the

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
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?
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
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.
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

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.

Page1 / 4

PROBLEM SET-3 - STATISTICS FOR SOCIAL SCIENCES BUS 152 PROBLEM SET 3 SOME BASIC DISCRETE PROBABILITY DISTRIBUTIONS Problem 1(5.1 Given the

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online