Tutorial Unit3 - UNIT 3 TUTORIAL EXERCISES 1. Among...

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2 UNIT 3 TUTORIAL EXERCISES 1. Among employed women, 25% have never been married. Select 12 employed women at random. (a) The number in your sample who have never been married has a binomial distribution. What are the binomial parameters n and p ? (b) What is the probability that exactly 2 of the 12 women in your sample have never been married? (c) What is the probability that 2 or fewer have never been married? 2. A telemarketer is employed to telephone 10 households each evening between 6 and 7pm with a view to selling a particular service. From past experience it is known that the probability of any one household being interested in purchasing the service is p = 0.20. Let the random variable X represent the number of households called on a given evening that are interested in the service. (a) Comment on the suitability of modelling the (relative frequency) distribution of X as a binomial distribution. (b) Use the binomial distribution tables to calculate: P( X = 4), P( X < 4), P( X ≥ 1). 3. A believer in the “random walk” theory of stock markets thinks that an index of stock prices has a probability of 0.65 of increasing in any one year. Let X be the number of years among the next 5 years in which the index rises. (a)
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This note was uploaded on 03/29/2012 for the course ECON 1102 taught by Professor Henry during the Three '08 term at University of New South Wales.

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Tutorial Unit3 - UNIT 3 TUTORIAL EXERCISES 1. Among...

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