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A company has a fleet of cars available for rent. Statistics that the Mercedes AMG G63 is the most rented car among their fleet and one in four customers request this make
If 5 of todays rentals are selected, what ist the probability that 2 clients would have rented AMG G63?
Assuming the following table of the cost (X) and selling (Y) price of flight tickets in dollars ($):
Cost Price
(X)
Sell Price
(Y)
200 300
230 250
500 510
540 700
670 730
320 500
190 412
280 355
625 635
Compute the following:
1. Plot a scatter plot of the data (manual plot or use any software like excel). (2 marks)
2. Pearson correlation coefficient (r). (2 marks)
3. The relation type and strength. (1mark)
4. Linear regression formula (𝑌̂
𝑖 = 𝛽̂
0 + 𝛽̂
1𝑋𝑖
). (2 marks)
5. The estimated of the ticket selling price when the cost is $500. (1 mark)
6. The error of the ticket selling price estimate when the cost is $500. (1 mark)
7. What is the percent of cost price variable interpret the variation of sell price variable
(How much the coefficient of determination)? (1 mark)
Richard
Question 2
In a study of hypertension and optimal treatment conducted by the National Heart Institute, 10,000 patients had a mean systolic blood pressure (BP), 𝝁 = 𝟏𝟔𝟏 mm Hg and standard deviation, 𝝈 = 𝟐𝟓 mm Hg. Assume the systolic blood pressure is normally distributed.
d. If 60 random samples each of size 30 are drawn from this population, determine:
i. the sampling distribution of the mean systolic blood pressure.
ii. the probability that the of mean systolic blood pressure between 140 and 165 mm Hg.
Hi, regarding question d ( ii) based from#180930 / how you calculate the answer P(0.4478) and also the answer 0.5376, can show me the exact calculations. tq
When x = 165
\frac{x-\mu}{\sigma}=\frac{x-161}{42.4264}=0.4478 \\ \therefore P(Z\le 0.4478) = 0.5376
σ
x−μ
=
42.4264
x−161
=0.4478
∴P(Z≤0.4478)=0.5376
Suppose that a large company uses an accounting information system (AIS) to manage its accounting and financial data. One important function of the AIS is to continuously audit accounting information, looking for errors or incomplete or improbable information. For example, when customers submit orders online, the AIS reviews the orders for possible mistakes. Any questionable invoices are tagged and included in a daily exceptions report. Recent data collected by the company show that the likelihood is 0.10 that an order form will be tagged. As a member of the AIS team, you have been asked by the management to determine the likelihood that(1) none of the order forms are tagged in a sample of four forms? (2) there are less than three tagged order forms in the sample of four?
A key component of an electronic system is produced continuously in large numbers on a manufacturing line. When the lathe are correctly adjusted, extensive data show that the proportion of poor quality products components is 0.027. If the proportion of poor quality products in a sample of size 50 is so large that the result is significant at the 5% level, the production line will be stopped for adjustment. What is the smallest proportion of defective items in a sample of 50 that will stop the production line?
Suppose in a particular college ,60 % of the Student population is Female.
(a) Calculate the Probability that a class of 10 students will have exactly four females.
(b) Calculate the Probability that a class of 10 students will contain five,six or seven females.
(c) Calculate the Probability that at least five students in a class of 10 will be female
26 customers are eating dinner at a local diner. Of the 26 customers, 20 order coffee, 8 order pie, and 7 order coffee and pie. Using this information, answer each of the following questions . Let A be the event that a randomly selected customer orders coffee and B be the event that a randomly selected customer orders pie . What is P(A) , the probability that a customer orders coffee? What is P(B) , the probability that a customer orders pie ? What is P(AandB) , the probability that a customer Orders coffee and pie ? What is P(AorB) , the probability that a customer orders coffee or pie ?
For a continuous function f(x) =kx2e-x where x>0.Find i) k, ii) mean, iii) variance
A group of 10 students is used for an experimental study. The group comprises of 3 students with blood type O, 4 with blood type A, and 3 with blood type B. What is the probability that a random sample of 5 will contain 1 student with blood type O, 2 students with blood type A, and 2 students with blood type B?
Give some applications of random variables in your day-to-day activities.
