This document contains 10 questions related to quantitative methods and probabilistic distributions including normal, Poisson, and binomial distributions. The questions provide examples of calculating probabilities related to distances traveled, occurrences within time periods, experiments with given sample sizes and probabilities of success, checking account balances, and traffic accidents. The responses provided the calculated probability for each question.
This document contains 10 questions related to quantitative methods and probabilistic distributions including normal, Poisson, and binomial distributions. The questions provide examples of calculating probabilities related to distances traveled, occurrences within time periods, experiments with given sample sizes and probabilities of success, checking account balances, and traffic accidents. The responses provided the calculated probability for each question.
This document contains 10 questions related to quantitative methods and probabilistic distributions including normal, Poisson, and binomial distributions. The questions provide examples of calculating probabilities related to distances traveled, occurrences within time periods, experiments with given sample sizes and probabilities of success, checking account balances, and traffic accidents. The responses provided the calculated probability for each question.
This document contains 10 questions related to quantitative methods and probabilistic distributions including normal, Poisson, and binomial distributions. The questions provide examples of calculating probabilities related to distances traveled, occurrences within time periods, experiments with given sample sizes and probabilities of success, checking account balances, and traffic accidents. The responses provided the calculated probability for each question.
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Quantitative Methods
Note: This task is perfect
Question 1 Totoy’s Trucking Company determined that on an annual basis, the distance traveled per truck is normally distributed with mean of 50.0 thousand miles and a standard deviation of 12.0 thousand miles. How many of the 1,000 trucks can be expected to travel between 60.0 and 70.0 thousand miles in a year? Response: 155
Question 2 Consider a poisson probability distribution with 3 as the average number of occurrences per time period. Find the probability of 5 occurrences in two time periods. Response: 0.1606
Question 3 Consider a binomial experiment with n=10 and p=0.15 Find P(x=1) Response: 0.3474
Question 4 The length of steel I beams made by the Smokers City Steel Company is normally distributed with a mean of 25.1feet and standard deviation of 0.25 feet. What is the probability that a steel beam will be between 24.9 and 25.7 feet long? Response: 0.7799 Question 5 The length of steel I beams made by the Smokers City Steel Company is normally distributed with a mean of 25.1feet and standard deviation of 0.25 feet. What is the probability that a steel beam will be between 24.6 and 24.9 feet long? Response: 0.1891
Question 6 It has been observed that a proportion of 0.10 of the recipients of a mail-order offer has responded to it. A sampleof 20 individuals is sent an offer. What is the probability that 4 randomly chosen individuals respond to the offer? Response: 0.09
Question 7 The average number of traffic accidents on a certain section of highway is two per week. Assume that the numberof accidents follow a Poisson distribution with μ = 2. Find the probability of at least 2 accidents on this section ofhighway during a week period. Response: 0.5940
Question 8 The Webster National Bank is reviewing its service charges and interest-paying policies on checking accounts. Theaverage daily balance on personal checking accounts is $550, with a standard deviation of $150. In addition, theaverage daily balances are normally distributed. What percentage carries average daily balances between $300 and $700? Response: 79.36% Question 9 Totoy’s Trucking Company determined that on an annual basis, the distance traveled per truck is normallydistributed with mean of 50.0 thousand miles and a standard deviation of 12.0 thousand miles. What is the probability that a truck traveled less than or equal to 45,000 miles? Response: 0.3385
Question 10 Consider a binomial experiment with n=10 and p=0.15 Find P(x=3) Response: 0.1298
