1 Which distribution? Each of the following random variables has a named distribution we studied in class. Give the name of the distribution, and the values of its parameters. A standard economic model of consumption of household goods assumes that products are consumed at a constant average rate, but with random and independent times between usage. To model inter-purchase times, we also take into account the amount purchased at once. For concreteness, suppose that a customer with a cold purchases a box of 120 tissues, and uses an average of 2 tissues every hour. T is the time (in minutes) until the entire box of tissues is used up, and another box must be purchased. A busy office receives an average of 100 calls per hour. C is the number of calls received over a particular 5-minute interval. One possible betting strategy in roulette is to take all your money and bet it on red; you have a chance of winning such a bet. If you win, then you bet all the money you have again, and so on, until you lose. This is not a very good strategy. B is the number of bets you make before you lose all your money.

After introducing a new teaching curriculum, a teacher is interested in whether the grade distribution in his course is significantly different than it was in previous years. The distribution of grades before the introduction of the new curriculum was as follows: Grade Percentage 15% A B 40% 25% D 15% F 5% A random sample of 150 students taken after the introduction of the new curriculum provided the following results: Grade Observed Frequency A 30 65 B 35 D 15 F 5 Does the observed data contradict the hypothesis? Formulate and test the appropriate hypotheses at the 1% significance level. Use the critical value approach. Clearly state and explain your conclusion within the context of the problem.

I need help with parts c-e

The price to earnings ratio (P/E) Is an Important tool in financial work. A random sample of 14 large U.S. banks (JP Morgan Chase, Bank of America, and others) gave the following P/E ratios.t 24 16 22 14 12 13 17 22 15 19 23 13 11 18 The sample mean is x = 17.1. Generally speaking, a low P/E ratio indicates a "value" or bargain stock. Suppose a recent copy of a magazine indicated that the P/E ratio of a certain stock index is H = 18. Let x be a random variable representing the P/E ratio of all large U.S. bank stocks. We assume that x has a normal distribution and o = 4.7. Do these data indicate that the P/E ratio of all U.S. bank stocks is less than 18? Use a = 0.01. (a) What is the level of significance? State the null and alternate hypotheses. Will you use a left-tailed, right-tailed, or two-tailed test? O Ho: H = 18; H1: H # 18; two-tailed O Ho: H = 18; H1: H 18; right-tailed %3D O Ho: H # 18; H1: H = 18; two-tailed (b) What sampling distribution will you use? Explain the rationale…