Statistics for Business and economics 10e homework solutions chapter 4, 5 & 6

1230 Words Jan 24th, 2015 5 Pages
Please complete the following problems in a Word document. Each problem is worth 3 points.
Chapter 4: 12, 14, 40
Chapter 5: 10, 22, 28
Chapter 6: 6, 16, 20, 24

Chapter 4
12. The Powerball lottery is played twice each week in 28 states, the Virgin Islands, and the District of Columbia. To play Powerball a participant must purchase a ticket and then select five numbers from the digits 1 through 55 and a Powerball number from the digits 1 through 42. To determine the winning numbers for each game, lottery officials draw five white balls out of a drum with 55 white balls, and one red ball out of a drum with 42 red balls. To win the jackpot, a participant’s numbers must match the numbers on the five white balls in any order and the number
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Assume that each unit demanded generates $70 in revenue and that each unit ordered costs $50. How much will the company gain or lose in a month if it places an order based on your answer to part (a) and the actual demand for the item is 300 units?

The loss would be $1,250

28. A Harris Interactive survey for InterContinental Hotels & Resorts asked respondents, “When traveling internationally, do you generally venture out on your own to experience culture, or stick with your tour group and itineraries?” The survey found that 23% of the respondents stick with their tour group (USA Today, January 21, 2004).
a. In a sample of six international travelers, what is the probability that two will stick with their tour group?

b. In a sample of six international travelers, what is the probability that at least two will stick with their tour group?

c. In a sample of 10 international travelers, what is the probability that none will stick with the tour group?

Chapter 6
6. The label on a bottle of liquid detergent shows the contents to be 12 ounces per bottle. The production operation fills the bottle uniformly according to the following probability density function.

a. What is the probability that a bottle will be filled with between 12 and 12.05 ounces?

b. What is the probability that a bottle will be filled with 12.02 or more ounces?

c. Quality control accepts a bottle that is filled to

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