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Set3 ProbabilityDistributions

The document discusses several probability distributions and word problems involving calculating probabilities. It includes examples of calculating the expected value of a random variable based on probabilities under different economic scenarios, determining the probability distribution and expected number of events occurring independently, calculating probabilities of Poisson and uniform distributions, and conditional probabilities of sequences of events. It provides 7 practice problems of increasing complexity involving defining probability distributions and calculating probabilities.

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Fahad Mehmood
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148 views1 page

Set3 ProbabilityDistributions

The document discusses several probability distributions and word problems involving calculating probabilities. It includes examples of calculating the expected value of a random variable based on probabilities under different economic scenarios, determining the probability distribution and expected number of events occurring independently, calculating probabilities of Poisson and uniform distributions, and conditional probabilities of sequences of events. It provides 7 practice problems of increasing complexity involving defining probability distributions and calculating probabilities.

Uploaded by

Fahad Mehmood
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Probability Distributions

Practice examples 4.6, 4.8, 4.9, 4.10, 4.11, 4.12, 5.7, 5.9 & 5.11 from the text book. Also solve exercises 4.43, 4.49,
4.61, 4.63, 5.27, 5.35, 5.49 & 5.51 and check your answers from the answer file on lms in the Text folder.

1. There is an 80% chance that the economy will be good next year and a 20% chance that it will be bad. If the
economy is good, there is a 60% chance that XYZ Incorporated will have EPS of Rs.300 and a 40% chance that their
earnings will be Rs.250. If the economy is bad, there is a 70% chance that XYZ Incorporated will have EPS of Rs.150
and a 30% chance that their earnings will be Rs.100. What is the firm’s expected EPS?

2. It is known that 20% of all light bulbs produced by a certain company have a lifetime of at least 800 hours. You
have just purchased two light bulbs manufactured by this company and are interested in the random variable x=
the number of the two bulbs that will last at least 800 hours. Construct the probability distribution for x, assuming
the two bulbs operate independently.

3. In a particular factory, a motor generates power to be used intermittently by five workers. At any given time
each worker has the same probability of requiring a unit of power. The workers perform independently, with the
result that the probability that one worker will require power at a certain moment is the same, whether or not any
other worker requires power then. According to a study carried out by the factory’s engineers each worker uses
power for an average of 12 minutes per hour.

(a) At a given point in time (minute), what is the probability that a worker will require power?
(b) What is the probability distribution for the number of workers requiring power at any given point in time?
(c) Graph the probability distribution of the number of workers requiring power at any given point in time.
(d) If more than two workers require power at the same time, the motor will not function properly. What the
probability of such a malfunction at any given moment (minute)?
(e) What is the expected number of workers requiring power at any given point in time?
(f) What is the standard deviation of the number of workers requiring power at any given point in time?

4. It has been established that the number of defective stereos produced daily at a certain plant is Poisson
distributed with mean 4. Over a 2-day span, what is the probability that the number of defective stereos does not
exceed 3?

5. A business executive has observed from long experience that his appointments show up any time from 15
minutes early to 30 minutes late. Assume the distribution of appointment arrival times is uniform over the interval
between -15 and 30, with 0 representing scheduled appointment time. (a) Find the probability that the executive’s
next appointment is not late. (b) What fraction of all his appointments arrives within five minutes of the scheduled
time?

6. A television dealer has observed that 75% of all televisions he sells are portable. Find the approximate
probability that, of the next 50 sold, at least 35 will be portable?

7. At a certain airfield planes land at random times at a constant average rate of one every 10 minutes.

(a) Find the probability that exactly 5 planes will land in a period of one hour.

(b) Find the probability that at least 2 planes will land in a period of 16 minutes. (c) Given that 5 planes landed in
an hour, calculate the conditional probability that 1 plane landed in the first half hour and 4 in the second half
hour.

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