Business Mathematics I
Homework 2
We, the undersigned, affirm that each of us participated fully and equally in the
completion of this assignment and that the work contained herein is original.
Furthermore, we acknowledge that sanctions will be imposed jointly if any part of this
work is found to violate the Student Code of Conduct, the Code of Academic Integrity, or
the policies and procedures established for this course.
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1.
(
Exercise 1
in
Basic Probability
) (
i
) Use repeated computation in the file
Bank
Customers.xls
to generate a set of six fractions for 50 day periods.
(
ii
) Repeat this for six
500 day periods.
(
iii
) Repeat this for six 2,000 day periods.
(
iv
) What pattern do you
see?
Solution.
omers.
bank cust
r
f days ove
fraction o
onsistent
uch more c
ovides a m
of days pr
er number
(iv) The l
, .
, .
, .
, .
, .
(iii) .
, .
, .
, .
, .
, .
(ii) .
, .
, .
, .
, .
, .
(i) .
150
arg
15
15
14
16
15
15
14
15
16
15
15
14
24
18
20
14
12
10
2.
(
Exercise 4 in
Basic Probability
) A fair die is rolled twice and the number of spots on
the upper face is recorded for each roll.
We can take all possible pairs of numbers, each
of which is between 1 and 6, as our sample space,
S
.
Since the die is fair, we will assume
that each of the 36 outcomes is equally likely, and therefore, that they all have the same
probability.
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 Spring '08
 ekstrom
 Math, Probability, Probability theory

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