Statistics and Probability Answers

It is assumed that the number of claims arriving at an insurance company per working day has a mean of 40 and a standard deviation of 12. A survey was conducted over 50 working days. Find the probability that the sample mean number of claims arriving per working day was less than 35.

If in the above example, the manager of Universal autos wants the probability of the stockout to be no more than 4%, then what should the reorder point be? Assuming that it has been determined that the demand during replenishment lead-time is normally distributed with a mean of 15 gallons and a standard deviation of 6 gallons.

Universal autos sell a popular motor oil. They place a replenishment order when the stick of this oil drops to 20 gallons. The store manager is concerned that the sales are being lost due to stockouts while waiting for an order. It has been determined that the demand during replenishment lead-time is normally distributed with a mean of 15 gallons and a standard deviation of 6 gallons. The manager would like to know the probability of a stockout.

A salad bars customers are charged for the amount of salad they take. Sampling suggests that the amount of salad taken is uniformly distributed between 5 ounces and 15 ounces. What is the probability that a customer will take between 12 and 15 ounces of salad?

A company has 500 employees, salary of whom is normally distributed with an average of Rs. 40,000/- and standard deviation of 6,000/-. Suppose you pick a random employee from the 500 employees, what are the chances he/she earns less than Rs. 30,000/- ?

20% of the Chocos packets contain a free toy. Whats the probability youll need to open fewer than 4 packets before finding your first toy?

On an average, a bus stops at a certain point every 15 minutes. Whats the probability that no bus will turn up in a single 15 minute interval?

A man is bowling and the probability of him knocking all the pins is 0.3. If he has 10 shots, what is the probability that hell knock all the pins down less than 3 times?

In the latest format of KBC, there are 5 questions. Like you all know, each question has 4 options and only one option is correct. However, in the new format, you get a chance to answer all 5 questions irrespective of the fact that you answer it right or wrong. What is the probability of getting 2 or 3 questions right?