Question

The hedge-fund company Blackstone Group has selected 15 candidates for an interview. There are 120 applicants...

The hedge-fund company Blackstone Group has selected 15 candidates for an interview. There are 120 applicants who are qualified for the position. Of those who applied, 20 applicants have an economic degree.

a/ What is the probability that at most 2 applicants who have an economic degree are selected for an interview?

b/ What is the probability that more applicants who have an economic degree than expected are selected for an interview?

c/ Compute the standard deviation of the applicants who have an economic degree selected for an interview.

(NO Excel)

Math   Statistics-And-Probability   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

We can represent the given problem as a Binomial distribution problem as follows.

Suppose, random variable X denotes the number of applicants selected for an interview who have an economic degree.

We consider being selected for an interview having an economic degree as success.

(a)

Required probability is given by

(b)

Expected value

Required probability is given by

(c)

Variance is given by

So, standard deviation is given by

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Entrepreneurship in Action Facebook Interview Process Facebook has developed a rigorous application process for prospective employees...
Entrepreneurship in Action Facebook Interview Process Facebook has developed a rigorous application process for prospective employees that ensures that the company gets top talent and finds people who fit the Facebook culture. For those interested in technical jobs, Facebook offers an online timed coding challenge, open to all, where the best performers automatically win a phone interview. The phone interview is the first major step in the hiring process. It covers the candidate’s résumé and questions about previous work experiences,...
What is the chance a randomly selected employee would get a non-zero bonus amount? What is...
What is the chance a randomly selected employee would get a non-zero bonus amount? What is the chance a randomly selected employee would get at least $6000? What is the expected bonus value of the bonus amounts? What are the variance and standard deviation of the bonus amount? Binomial Suppose according to past data for a small boutique, about 30% of the customers who walk into the store purchase at least one item. Today 10 individual customers walked into the...
Texas is home to more than one million undocumented immigrants, and most of them are stuck...
Texas is home to more than one million undocumented immigrants, and most of them are stuck in low-paying jobs. Meanwhile, the state also suffers from a lack of skilled workers. The Texas Workforce Commission estimates that 133,000 jobs are currently unfilled, many because employers cannot find qualified applicants (The Boston Globe, September 29, 2011). Texas was the first state to pass a law that allows children of undocumented immigrants to pay in-state college tuition rates if they have lived in...
Scott's Watermelon Company has the following inputs: Sales = $44,000,000 Total assets on balance sheet =...
Scott's Watermelon Company has the following inputs: Sales = $44,000,000 Total assets on balance sheet = $100,000,000 Total debt in capital structure = $30,000,000 Ke = 15% Kd = 10% (before tax adjustment) Tax rate = 40% The anticipated ongoing net operating income (EBIT) is $17,000,000. With the following data, please tell me what the total fair market value of Scott's Watermelon Company is. Amy's Pet Supply Warehouse is trying to figure out their degree of combined leverage. You aim...
Case 13 ✍ It Was Really So Simple Background Information Brenda Galway leaned back in her...
Case 13 ✍ It Was Really So Simple Background Information Brenda Galway leaned back in her chair, sighed heavily, and slowly rubbed her eyes in big circular motions. “I don’t need all this aggravation,” she thought to herself. She had just finished reviewing the report she had requested from her new employee, Bill Stanley. The entire report was incorrect and would have to be redone. Brenda supervised Unit B of the Audit Department. The Unit B team had earned the...
Muffler Magic* Muffler Magic is a fast-growing chain of 25 automobile service centers in Nevada. Originally...
Muffler Magic* Muffler Magic is a fast-growing chain of 25 automobile service centers in Nevada. Originally started 20 years ago as a muffler repair shop by Ronald Brown, the chain expanded rapidly to new locations, and as it did so Muffler Magic also expanded the services it provided, from muffler replacement to oil changes, brake jobs, and engine repair. Today, one can bring an automobile to a Muffler Magic shop for basically any type of service, from tires to mufflers...
QUESTION 1 1. Brianna is trying to increase her chances of being promoted to vice president...
QUESTION 1 1. Brianna is trying to increase her chances of being promoted to vice president by working to build good work relationships with other managers outside her own department. Brianna's behavior should be viewed as dysfunctional politics. functional politics. coercive power. functional influence. 2 points QUESTION 2 1. The Gingerbread Factory has a separate unit that makes their chocolate crunch cookies and another unit that is completely responsible for all operations in producing their ginger snap cookies. The Gingerbread...
Sign In INNOVATION Deep Change: How Operational Innovation Can Transform Your Company by Michael Hammer From...
Sign In INNOVATION Deep Change: How Operational Innovation Can Transform Your Company by Michael Hammer From the April 2004 Issue Save Share 8.95 In 1991, Progressive Insurance, an automobile insurer based in Mayfield Village, Ohio, had approximately $1.3 billion in sales. By 2002, that figure had grown to $9.5 billion. What fashionable strategies did Progressive employ to achieve sevenfold growth in just over a decade? Was it positioned in a high-growth industry? Hardly. Auto insurance is a mature, 100-year-old industry...
In narrative essay format, I want you to address a business/organization case study using multiple concepts...
In narrative essay format, I want you to address a business/organization case study using multiple concepts from class. The case question and case text begin on page 5 of this document. You need to demonstrate their best understanding of management and organizational behavior theory, and the application of those ideas to improve the understanding of various issues. You need to clearly identify at least 3 distinct, substantive issues. For each issue you need to 1), identify evidence from the case...
Gender Bias in the Executive Suite Worldwide The Grant Thornton International Business Report (IBR) has described...
Gender Bias in the Executive Suite Worldwide The Grant Thornton International Business Report (IBR) has described itself as "a quarterly survey of business leaders from across the globe … surveying 11,500 businesses in 40 economies across the globe on an annual basis." 1 According to the 2011 IBR, the Asia Pacific region had a higher percentage (27 percent) of female chief executive officers (CEOs) than Europe and North America. Japan is the only Asia Pacific region exception. The report further...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT