Question

**In an experiment, John has found that the low bid on a construction job can be regarded as a random variable having a uniform density**

**
f(x) = 3/4 for 2/3
< x < 2 ,**

**
0 , otherwise**

**What is the bid value where fifty percent of the bids are above it?**

**What is the standard deviation of the bids?**

Answer #1

Reliable Construction Company Reliable Construction Company is
deciding how much they will bid for a contract to build a new plant
for a major manufacturer. Based on the specifications of the new
plant, Reliable has estimated what the company’s total cost would
be if it were to undertake the project. Reliable estimates that the
project would cost $4.55 million (M) and are thinking about bidding
$5.4 M in the proposal. Reliable also estimates that the cost of
preparing a proposal...

Reliable Construction Company Reliable Construction Company is
deciding how much they will bid for a contract to build a new plant
for a major manufacturer. Based on the specifications of the new
plant, Reliable has estimated what the company’s total cost would
be if it were to undertake the project. Reliable estimates that the
project would cost $4.55 million (M) and are thinking about bidding
$5.4 M in the proposal. Reliable also estimates that the cost of
preparing a proposal...

Find the value of C > 0 such that the function
?C sin2x, if0≤x≤π,
f(x) =
0, otherwise
is a probability density function.
Hint: Remember that sin2 x = 12 (1 − cos 2x).
2. Suppose that a continuous random variable X has probability
density function given by the above f(x), where C > 0 is the
value you computed in the previous exercise. Compute E(X).
Hint: Use integration by parts!
3. Compute E(cos(X)).
Hint: Use integration by substitution!

The time Butch Cassidy and Sundance Kid can run 60 yards is
random and depends on the day. The time is measured in seconds. For
Butch Cassidy it is a continuous random variable with f(x) = 1 for
6.4 ≤ x ≤ 7.4, and for Sundance Kid it is a continuous random
variable with f(x) = 5/3 for 6.7 ≤ x ≤ 7.3. Etta Place thinks that
the one who has more chances to run 60 yards faster than 7.2...

The percent frequency distributions of job satisfaction scores
for a sample of information systems (IS) senior executives and
middle managers are as follows. The scores range from a low
of (very dissatisfied) to a high of (very
satisfied). Round your answers to two decimal places.
Job Satisfaction
Score
IS Senior
Executives (%)
IS Middle
Managers (%)
1
4
3
2
8
8
3
2
12
4
39
45
5
47
32
a. Develop a probability distribution for the
job satisfaction score of...

1. For which type of continuous distribution are the mean and
the median always the same?
uniform and normal distributions only
all of the above
uniform distribution
exponential distribution
normal distribution
2. The skewness of a normal distribution is:
negative
zero
positive
something that varies
3. The standard normal probability distribution has a mean of
______ and a standard deviation of ______.
0, 1
1, 0
1, 1
0, 0
4. Any normal probability distribution can be converted to a...

4.4.12 How many ways can you choose seven people from a group of
twenty?
5.1.2 Suppose you have an experiment where you flip a coin three
times. You then count the number of heads. State the random
variable. Write the probability distribution for the number of
heads. Draw a histogram for the number of heads. Find the mean
number of heads. Find the variance for the number of heads. Find
the standard deviation for the number of heads. Find the...

If a random variable X has a beta distribution, its probability
density function is
fX (x) = 1 xα−1(1 − x)β−1 B(α,β)
for x between 0 and 1 inclusive. The pdf is zero outside of
[0,1]. The B() in the denominator is the beta function, given by
beta(a,b) in R.
Write your own version of dbeta() using the beta pdf formula
given above. Call your function mydbeta(). Your function can be
simpler than dbeta(): use only three arguments (x, shape1,...

John and Mary visited 29 randomly selected Starbucks locations
and recorded the number of cappuccinos sold at each coffee shop on
April 1st. They summarized the data in the following frequency
distribution table: (Variable ,Frequency) (0, 2 ) (1, 5) ( 2, 8)
(3, 10) (4, 4) (5, 2)
a. For this scenario, identify the following: • Variable •
Individual (Subject) • Sample • What percentage of Starbucks
locations sold at least 3 cappuccinos?
b. Calculate the sample mean. Note:...

1. The probability that a student has a Visa card (event V) is
0.30. The probability that a student has a MasterCard (event M) is
0.40. The probability that a student has both cards is 0.12. (1)
Find the probability that a student has either a Visa card or a
MasterCard. (2) In this problem, are V and M independent? Why?
2.
This is a contingency table describes 100 business students.
Gender
Major
Female(F)
Male(M)
Accounting (A)
22
28
Economics(E)...

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