Use the following information to answer the next two questions: A service station has a pump that distributes diesel fuel to automobiles. The station owner estimates that only about 4.8 cars use the diesel pump every 2 hours. What is the probability that 5 cars will arrive to use this pump during a two-hour period? O 65.1% O 32.24% O 13.5% O 22.26% O 17.5% QUESTION 32 What is the probability that one or no cars will arrive to use the diesel pump during a half-hour period? O 4.77% 49.3% O 66.26% O 30.12% 36.14%

Use the following information to answer the next two questions: A service station has a pump that distributes diesel fuel to automobiles. The station owner estimates that only about 4.8 cars use the diesel pump every 2 hours. What is the probability that 5 cars will arrive to use this pump during a two-hour period? O 65.1% O 32.24% O 13.5% O 22.26% O 17.5% QUESTION 32 What is the probability that one or no cars will arrive to use the diesel pump during a half-hour period? O 4.77% 49.3% O 66.26% O 30.12% 36.14%

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Checking my answers.
At races, your horse, White Rum, has a probability of 1/20 of coming 1st, 1/10 of coming 2nd and a probability of 1⁄4 in coming 3rd. First place pays $5,000 to the winner, second place $4,000 and third place $1,350.Hence, is it worth entering the race if it costs $1050? Your company plans to invest in a particular project. There is a 40% chance you will lose $3,000, a 45% chance you will break even, and a 15% chance you will make $5,500. Based solely on this information, what should you do? On 1st Jan 2006, a business had inventory of $19,000. During the month, sales totalled $32,500 and purchases $24,000. On 31st Jan 2006 a fire destroyed some of the inventory. The undamaged goods in inventory were valued at $11,000. The business operates with a standard gross profit margin of 30%. Based on this information, what is the cost of the inventory destroyed in the fire?
6 Company “X Star" supplies electronic devices. Probability of purchasing a defective device is 0.3. Mr. Chang has purchased two devices. (a) What is the probability that at least one device purchased by Mr. Chang is good? (b) What is the probability that at least one device purchased by Mr. Chang is defective?
1. Consider you toss two dices separately, and you get whatever the number above the dice. You know that the first dice is fair, but there is a 0.30 probability that outcome will be 6, and 0.30 probability that outcome will be 1 in the second dice. Each of the other outcomes has a probability 0.10 for the second dice. Which dice has the higher variance?
If probability of the student attend the first lecture is 0.55, the probability that he attend the second lecture is 0.40, and the probability he attend both is 0.28. Find probability that he not attend first lecture or not attend the second one: O.72 O.36 O.95 O.27
5. What is the variance of the probability distribution? A. 6.67 В. 4 C. 3.46 D. 2.58
20
Two factories mamufacture the Number of Defects same machine parts. Each part is classified as having either 0, 1, 2 or 3 mamufacturing defects. The joint probability for this is given in the adjoining Table. (i) A part is observed to have no defect. What is the probability that it was produced by X mamufacturer ? Manufacturer 21 3 0-1250 0-0625 0-1875 0-1250 Y 0-0625 0-0625 0-1250 0-2500 (ii) A part is known to have been produced by mamufacturer X. What is the probability that the part has no defects ? (iii) A part is known to have two or more defects. What is the probability that it was manufactured by X? (iv) A part is known to have one or more defects. What is the probability that it was manufactured by Y ?
Suppose X is a random variable with possible values -2,3 and 1 and with respective probabilities 0.22, 0.35, and 0.43 then the mean and standard deviation of X, respectively, are: of a. 1.04 and 1.838 O b. 1.04 and 1.876 O c. 0.667 and 1.876 d. 1.04 and 0.3733 O e. 0.667 and 0.3733
. If you examine the decision tree in Figure 9.12 (orany other decision trees from PrecisionTree), you willsee two numbers (in blue font) to the right of each endnode. The bottom number is the combined monetaryvalue from following the corresponding path throughthe tree. The top number is the probability that thispath will be followed, given that the best strategy isused. With this in mind, explain (1) how the positiveprobabilities following the end nodes are calculated,(2) why some of the probabilities following the endnodes are 0, and (3) why the sum of the probabilitiesfollowing the end nodes is necessarily 1.
(Ch 7) Suppose a standard normal random variable has an 80 percent chance falling in an interval (–z, z). The value of z is approximately ____ (use Appendix C-1). a. 1.45 b. 1.35 c. 1.96 d. 1.28
2