Worksheet 5: Probability II

d. The normal distribution may be a useful approximation, but it can’t exactly be the correct distribution. Explain why this is so.

9. Assume the weight, W, of a randomly selected adult has a normal distribution with a mean

4. Give the probability for the following based on the MINITAB calculations with the probability of a success being ½. (Complete sentence not necessary)

Each year there is an increase in demands for plastic bags, and therefore more are shipped, creating further environmental pollution concerns. This increase in demand has lead to the phenomenal upsurge in the use and misuse of plastic bags globally, both in developed and developing countries. Statistics show that 4 to 5 trillion plastic bags are produced per annum, whereby North America and Western Europe account for nearly 80% (Geographical, 2005; Reusable Bags, 2005). Cheeseman (2007) states that approximately “380 billion plastic shopping bags are used in the United States annually”; in turn, only 0.6% of this is recycled.

Life insurance company …. With a mean of 68 years and a standard deviation of 4 years. What proportion of the plan recipients would receive payments beyond age 75?

Explain why we need to use the t distribution. What assumption do you need to make?

The life expectancy of a lung cancer patient treated with a new drug is normally

Example: Patrick flipped a number cube 40 times. A 5 appeared 10 times. The experimental probability of rolling a 5 is 10 out of 40 or 25%

28. The Polo Development Firm is building a shopping center. It has informed renters that their rental spaces will be ready for occupancy in 19 months.  If the expected time until the shopping center is completed is estimated to be 14 months, with a standard deviation of 4 months, what is the probability that the renters will not be able to occupy in 19 months?

In today’s economy, cash or a credit card is needed to meet the basic human needs. It is an apparent fact that we need cash or credit cards to purchase items such as food, clothing, and to buy gas. Also, when you are out shopping and discover that you have used all the cash in your possession, it is then that you realize that the advantage of having a credit card. Furthermore, with cash, you are restricted to the amount in your wallet or purse; however, a credit card allows you to pay for your purchase at a later date. Both cash and credit cards can be useful when you manage them wisely. While cash and credit cards are similar in that they both are readily accessible, used for goods and services at the time of purchase, they are dissimilar because of theft, high- interest rates, identity theft.

An increasing number of business professionals choose to earn their MBAs through the internet. Pursuing an MBA is a great accomplishment. Many undergraduate students graduate and move on to pursue their Masters Degree in their desired field. This marketing plan illustrates the market segments and the strategies of employing to get customers and create a solid revenue stream. Our unique focus is creating opportunities for the fulltime working student that is not able to go to a campus for classes. A twist that gives us an advantage over our competitors is by giving students more options of what is available in picking from a larger selection of majors. From

From the information gathered and the studies we researched, I was quite pleased at the results I had found. In nearly every case in which I was able to document and verify that the data came from a trusted source, I was discovering a near two to one ATM visitation rate between non-debit card holders and those that did possess debit cards. The extremes of the test did prove to be fascinating in showing the disparity of the data collected, and showed that even with room for error, my hypothesis was well deserved. In one case,

The MBA program was introduced for the first time in the United States in the early 20 th Century and was modeled on the basis of the prevalent 2-year graduate programs. It gained significant traction after its inception, however was later criticized for its lack of practical relevance. It was often said that “MBA was too academic, too theoretical and divorced from real-life business practice.”1 Business school subsequently responded by improving quality of teaching and content. The first year was dedicated to

MBAs come in all shapes and sizes – Full Time (FT), Executive, Dual, Distance, Short Term and Part Time (PT). Read Types of MBA Programs. But taking the more common full-time MBA courses, for comparison, the way part-time differs from it is mainly in the execution. Part time courses are usually offered as evening, or off office hour courses, covering essentially the same amount of coursework but over a longer duration.

 The second question is based on the World Bank's proposal to reduce the proportion of government ownership of 33% of plastic shopping bags. In answering this question 86% of the respondents expressed their views just because they believe it will automatically reduce the operational level of unfair political