Question

Suppose the following table shows the results obtained for 4,409 boating accidents, including the wind condition...

Suppose the following table shows the results obtained for 4,409 boating accidents, including the wind condition at the time of the accident.

Wind
Condition
Percentage of
Accidents
None 9.4
Light 57.0
Moderate 24.0
Strong 7.7
Storm 1.9

Let x be a random variable reflecting the known wind condition at the time of each accident. Set x = 0 for none, x = 1 for light, x = 2 for moderate, x = 3 for strong, and x = 4 for storm.

(a)Develop a probability distribution for x.

x

f(x)

0
1
2
3
4

(b)Compute the expected value of x.

(c)Compute the variance and standard deviation for x. (Round your answers to four decimal places.)

variance

standard deviation

(d)Comment on what your results imply about the wind conditions during boating accidents.

The expected value calculated in part (b) indicates that the mean wind condition when an accident occurred is  ---Select--- slightly greater than no slightly greater than light slightly greater than moderate slightly less than strong slightly less than storm wind conditions.

Homework Answers

Answer #1

a)

X P(X)
0 0.094
1 0.57
2 0.24
3 0.077
4 0.019

b)

X P(X) X*P(X) X² * P(X)
0 0.094 0.000 0.0000
1 0.57 0.570 0.5700
2 0.24 0.480 0.9600
3 0.077 0.231 0.6930
4 0.019 0.076 0.3040

expected value of x = mean = E[X] = Σx*P(X) =            1.3570

c)

E [ X² ] = ΣX² * P(X) =            2.5270
          
variance = E[ X² ] - (E[ X ])² =            0.6856
          
std dev = √(variance) =            0.8280

d)

The expected value calculated in part (b) indicates that the mean wind condition when an accident occurred is  slightly greater than light wind conditions.

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
What role could the governance of ethics have played if it had been in existence in...
What role could the governance of ethics have played if it had been in existence in the organization? Assess the leadership of Enron from an ethical perspective. THE FALL OF ENRON: A STAKEHOLDER FAILURE Once upon a time, there was a gleaming headquarters office tower in Houston, with a giant tilted "£"' in front, slowly revolving in the Texas sun. The Enron Corporation, which once ranked among the top Fortune 500 companies, collapsed in 2001 under a mountain of debt...
Discuss ethical issues that can be identified in this case and the mode of managing ethics...
Discuss ethical issues that can be identified in this case and the mode of managing ethics Enron finds itself in this case. How would you describe the ethical culture and levels of trust at Enron? Provide reasons for your assessment. THE FALL OF ENRON: A STAKEHOLDER FAILURE Once upon a time, there was a gleaming headquarters office tower in Houston, with a giant tilted "£"' in front, slowly revolving in the Texas sun. The Enron Corporation, which once ranked among...
Discuss how the respective organizations’ relations with stakeholders could have potentially been affected by the events...
Discuss how the respective organizations’ relations with stakeholders could have potentially been affected by the events that took place at Enron and how the situation could have been dealt with differently to prevent further damage? THE FALL OF ENRON: A STAKEHOLDER FAILURE Once upon a time, there was a gleaming headquarters office tower in Houston, with a giant tilted "£"' in front, slowly revolving in the Texas sun. The Enron Corporation, which once ranked among the top Fortune 500 companies,...