ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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- The average marks on an Economics Assignment is 55%, with a standard deviation of 5%. The Examiners note that the distribution of the marks is normal. A. Define 'Normal Distribution' including key properties and illustrate with a diagram. What is the proportion of frequencies below 35%? What is the proportion of frequencies above 80%? What is the proportion of marks between 40% and 70% ?arrow_forwardc and d part hand writearrow_forwardA bakery has determined that the number of loaves of its white bread demanded daily has a normal distribution with mean 7,200 loaves and standard deviation 300 loaves. Based on cost considerations, the company has decided that its best strategy is to produce a sufficient number of loaves so that it will fully supply demand on 94% of all days. a. How many loaves of bread should the company produce? b. Based on the production in part (a), on what percentage of days will the company be left with more than 500 loaves of unsold bread?arrow_forward
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- The joint probability distribution of two random variables, Xand Y, is given in the table below. Y=-4 Y--3 Y--1 Y-2 X--4 0.06 0.12 0.17 0.18 X--1 0.00 0.03 0.00 0.21 X-0 0.02 0.01 0.20 0.00 From the information in the table, calculate each of the following probabilities. Round your answers to two decimal places. (If necessary, consult a list of formulas.) (a) Given that Y=-3, compute the probability that X=0. Given that X2 -1, compute the probability that (b) Y2-3.arrow_forwardThe weights of newborn baby boys born at a local hospital are believed to have a normal distribution with a mean weight of 3939 grams and a standard deviation of 555 grams. If a newborn baby boy born at the local hospital is randomly selected, find the probability that the weight will be less than 4771 grams. Round your answer to four decimal places.arrow_forwardi need the answer quicklyarrow_forward
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