Question

Exercise 6-73 Algo

It is well documented that a typical washing machine can last
anywhere between 5 to 20 years. Let the life of a washing machine
be represented by a lognormal variable, *Y* =
*e ^{X}* where

**b.** What proportion of the washing machines will
last for more than 10 years? **(Round your intermediate
calculations to at least 4 decimal places, “z” value to 2 decimal
places, and final answer to 4 decimal places.)**

**c.** What proportion of the washing machines will
last for less than 4 years? **(Round your intermediate
calculations to at least 4 decimal places, “z” value to 2 decimal
places, and final answer to 4 decimal places.)**

**
d.** Compute the 65th percentile of the life of the washing
machines.

Answer #1

It is well documented that a typical washing machine can last
anywhere between 5 to 20 years. Let the life of a washing machine
be represented by a lognormal variable, Y = eX where X is normally
distributed. In addition, let the mean and standard deviation of
the life of a washing machine be 15 and half years and 6 years,
respectively. [You may find it useful to reference the z table.] a.
Compute the mean and the standard deviation...

The Bahamas is a tropical paradise made up of 700 islands
sprinkled over 100,000 square miles of the Atlantic Ocean.
According to the figures released by the government of the Bahamas,
the mean household income in the Bahamas is $37,803 and the median
income is $33,550. A demographer decides to use the lognormal
random variable to model this nonsymmetric income distribution. Let
Y represent household income, where for a normally
distributed X, Y = eX. In
addition, suppose the standard...

Let Y have the lognormal distribution with mean 67.5
and variance 143.30. Compute the following probabilities.
(You may find it useful to reference the z
table. Round your intermediate
calculations to at least 4 decimal places, “z” value to 2 decimal
places, and final answers to 4 decimal places.)
a.P(Y > 78)
b.P(62 < Y < 78)

Let Y have the lognormal distribution with mean 68.8
and variance 168.50. Compute the following probabilities.
(You may find it useful to reference the z
table. Round your intermediate
calculations to at least 4 decimal places, “z” value to 2 decimal
places, and final answers to 4 decimal places.)
a.
P(Y > 95)
b.
P(60 < Y < 95)

Let Y have the lognormal distribution with mean 78.1 and
variance 167.80. Compute the following probabilities. (You may find
it useful to reference the z table. Round your intermediate
calculations to at least 4 decimal places, “z” value to 2 decimal
places, and final answers to 4 decimal places.)
a. P(Y > 105)
b. P(74 < Y < 105)

Let Y have the lognormal distribution with mean 82.5
and variance 146.00. Compute the following probabilities.
(You may find it useful to reference the z
table. Round your intermediate
calculations to at least 4 decimal places, “z” value to 2 decimal
places, and final answers to 4 decimal places.)
p(Y>208)
P(80<Y< 108)

Exercise 13-1 Algo
A random sample of five observations from three normally
distributed populations produced the following data:
Treatments
A
B
C
22
24
26
30
30
23
29
16
18
21
20
22
26
25
16
x−Ax−A
=
25.6
x−Bx−B
=
23.0
x−Cx−C
=
21.0
s2AsA2
=
16.3
s2BsB2
=
28.0
s2CsC2
=
16.0
a. Calculate the grand mean. (Round
intermediate calculations to at least 4 decimal
places and final answer to 4 decimal places.)
b. Calculate SSTR and...

Let Y = ex where X is
normally distributed with μ = 3.4 and σ = 0.7.
Compute the following values. [You may find it useful to
reference the z table.]
a. Compute P(Y ≤ 10.4).
(Round your intermediate calculations to at least 4 decimal
places, “z” value to 2 decimal places, and final answer to
4 decimal places.)
b. Compute P(9.1 < Y <
10.3). (Leave no cells blank - be certain to enter "0"
wherever required. Round your...

Let Y = ex where X is
normally distributed with μ = 3.7 and σ = 0.5.
Compute the following values.
a. Compute P(Y ≤ 9.8).
(Round your intermediate calculations to at least 4 decimal
places, “z” value to 2 decimal places, and final answer to
4 decimal places.)
b. Compute P(6.0 < Y <
6.9). (Leave no cells blank - be certain to enter "0"
wherever required. Round your intermediate calculations to at least
4 decimal places, “z” value...

Martin Office Supplies paid a $6 dividend last year. The
dividend is expected to grow at a constant rate of 7 percent over
the next four years. The required rate of return is 20 percent
(this will also serve as the discount rate in this problem). Use
Appendix B for an approximate answer but calculate your final
answer using the formula and financial calculator methods.
a. Compute the anticipated value of the dividends for the next
four years. (Do not...

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