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ASSIGNMENT ECON304 ANSWER THE FOLLOWING QUESTIONS. SHOW YOUR SOLUTIONS AND ENCIRCLE YOUR FINAL ANSWERS. SUBMIT THIS ON WEDNESDAY. 1. Suppose that the likelihood that someone who logs into a particular site in a shopping mall on the web will purchase an item is . 20. If the site has 10 people accessing it in the next minute, what is the probability that a) Exactly 2 individuals will purchase an item? b) At least 2 individuals will purchase an item? c) At most 2 individuals will purchase an item? 2.
The quality Control Manager of ATV Cookies is inspecting a batch of chocolate-chip cookies that has been baked. If the production process is in control, the average number of chip parts per cookie is 6. What is the probability that in any particular cookie being inspected a) Exactly five chip parts will be found? b) Fewer than five chip parts will be found? c) Five or more chip parts will be found? 3. An important part of the customer service responsibilities of a telephone company relate to the speed with which troubles in residential service can be repaired.
Suppose past data indicate that the likelihood is . 70 that troubles in residential service can be repaired on the same day. For the first five troubles reported on a given day, what is the probability that a) All five will be repaired on the same day? b) At least three will be repaired on the same day? c) Fewer than two will be repaired on the same day? 4. A state lottery is conducted in which six winning numbers are selected from a total of 54 numbers.
What is the probability that if six numbers are randomly selected a) All six numbers will be winning numbers? b) Four numbers will be winning numbers? c) None of the numbers will be winning numbers? 5. The average number of claims per hour made to the Philam Insurance company for disabilities and death is 3. 1. what is the probability that in any given hour a) Fewer than three claims will be made? b) Three or more claims can be made? c) More than three claims can be made?