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HW # 2

# HW # 2 - Business Mathematics I Homework 2 We the...

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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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HW # 2 - Business Mathematics I Homework 2 We the...

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