Assignment Task

 

5)Expected Value:  The prizes that can be won in a sweepstakes are listed below, together with the chances of winning each one: $4200 (1 chance in 2000); $1600 (1 chance in 1000); $600 (1 chance in 500); $300 (1 chance in 50). Find the expected value for the amount won/lost if the cost of entering is $10. Hint: Don't forget about cost of entering and amount / probability of not winning! 

A) $1.04 B) $10.80 C) $10.57 D) $0.90 

6)A machine has 11 identical components which function independently. The probability that a component will fail is 0.2. The machine will stop working if more than three components fail. Find the probability that the machine will be working. 

A) 0.1611 B) 0.8389 C) 0.3826 D) 0.6174 

7)A company purchases shipments of machine components and uses this acceptance sampling plan: Randomly select and test 21 components and accept the whole batch if there are fewer than 3 defectives. If a particular shipment of thousands of components actually has a 8% rate of defects, what is the probability that this whole shipment will be accepted? 

A) 0.9200 B) 0.9181 C) 0.2337 D) 0.7663 

8)A car insurance company has determined that 8% of all drivers were involved in car accidents last year. Among the 15 drivers living on one particular street, 3 were involved in a car accident last year. If 15 drivers are randomly selected, what is the probability of getting 3 or more who were involved in a car accident last year? 

A) 0.8870 B) 0.1130 C) 0.0273 D) 0.9727 

9)In a certain town, 20 percent of voters are in favor of a given ballot measure and 80 percent are opposed. For groups of 120 voters, find the mean for the number who oppose the measure. 

A) 20 B) 24 C) 96 D) 80 

10)On a multiple choice test with 9 questions, each question has four possible answers, one of which is correct. For students who guess at all answers, find the variance for the number of correct answers. 

A) 2.8 B) 1.3 C) 16.9 D) 1.7 

 


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  • Posted on : March 17th, 2019

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