According to a 2017 Wired magazine article, 40% of e-mails that are received are tracked using software that can tell the e-mail sender when, where, and onwhat type of device the e-mail was opened (Wired magazine website). Suppose we randomly select 50 received e-mails.a. What is the expected number of these e-mails that are tracked?b. What are the variance (to the nearest whole number) and standard deviation (to 3 decimals) for the number of these e-mails that are tracked?VarianceStandard deviation

Let's consider the variable X the number of emails tracked, with a binomial distribution, a…

Answered: According to a 2017 Wired magazine…

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter7: Uncertainty

Section: Chapter Questions

Problem 7.3P

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Anticipated consumer demand in a restaurant for free-range steaks next month can be modeled by a normal random variable with mean 1,200 pounds and standard deviation 100 pounds. a. What is the probability that demand will be between 1,100 and 1,300 pounds? Calculate in 4 decimal place. b. The probability is 0.10 that demand will be more than how many pounds?
You survey 5 members of a college class about how many hours they study each week: 12 hours, 18 hours, 7 hours, 3 hours, and 15 hours. The class has a total of 28 students. Based on the findings from the 5 students you interviewed, what is the standard deviation for the entire class? What is the range of hours you can expect students to study based on one standard deviation? (Hint: Think Normal Distribution Curve).
A restaurant manager classifies customers as regular, occasional, or new, and finds that of all customers 50%, 40%, and 10%, respectively, fall into these categories. The manager found that wine was ordered by 70% of the regular customers, by 50% of the occasional customers, and by 30% of the new customers.a. What is the probability that a randomly chosen customer orders wine?b. If wine is ordered, what is the probability that the person ordering is a regular customer?c. If wine is ordered, what is the probability that the person ordering is an occasional customer?
Early in August an undergraduate college discovers that it can accommodate a few extra students. Enrolling those additional students would provide a substantial increase in revenue without increasing the operating costs of the college; that is, no new classes would have to be added. From past experience the college knows that the frequency of enrollment given admission for all students is 40%.a. What is the probability that at most 6 students will enroll if the college offers admission to 10 more students?b. What is the probability that more than 12 will actually enroll if admission is offered to 20 students?c. If the frequency of enrollment given admission for all students was 70%, what is the probability that at least 12 out of 15 students will actually enroll?
The mean cost of domestic airfares in the United States rose to an all-time high of $395 per ticket. Airfares were based on the total ticket value, which consisted of the price charged by the airlines plus any additional taxes and fees. Assume domestic airfares are normally distributed with a standard deviation of $115. Use Table 1 in Appendix B. a. What is the probability that a domestic airfare is $540 or more (to 4 decimals)? b. What is the probability that a domestic airfare is $240 or less (to 4 decimals)? c. What if the probability that a domestic airfare is between $300 and $490 (to 4 decimals)? d. What is the cost for the 5% highest domestic airfares? (rounded to nearest dollar)
Industry standards suggest that 12 percent of new vehicles require warranty service within the first year. University Toyota in Morgantown, WV sold 10 Toyotas yesterday. What is the probability that exactly one of these vehicles will require warranty service?
Please do not give solution in image format thanku Two Manufacturers supply food to a large cafeteria. Manufacturer A supplies 40% of the soup served in the cafeteria, while Manufacturer B supplies 60% of the soup that is served. 3% of the soup cans provided by Manufacturer A are found to be dented, while 1% of the cans provided by Manufacturer B are found to be dented. Given that a can of soup is dented, find the probability that it came from Manufacturer B.
5 Historical data indicates that only 35% of cable customers are willing to switch companies. If a binomial process is assumed, then in a sample of 12 cable customers, what is the probability that between 3 and 5 (inclusive) customers are willing to switch companies? (Use TI 84 and round answer to at least 3 decimal places)
You work at a mechanic shop. 40% of cars that come in have a flat tire. If there are 50 cars in the shop, what is the probability that more than 30 have a flat tire? Round to three decimal points.
Suppose that there are two types of workers: high and low. Employers cannot distinguish between different types during an interview. Employers value high type at $200,000 and low type at $100,000. Employers are in a competitive market (i.e. zero profit applies). High type workers have a reservation wage of 140,000 and low type workers have a reservation wage of 80,000. Suppose that 50% of all workers are high type. The productivities, reservation wages, and the probabilities are common knowledge). What wage would the employers offer? Please explain the solution!
Half of a set of the parts are manufactured by machine A and half by machine B. Five percent of all the parts are defective. Five percent of the parts manufactured on machine A are defective. Find the probability that a part was manufactured on machine A, given that the part is defective.
Home prices in a particular neighborhood average $350k with a standard deviation of $30k. They are not Normally distributed. Your realtor pulls a random sample of 30 houses for you to look at. What is the probability that the average price of these 30 houses is more than $345k? (Please round your answer to 3 decimal places: ex, 0.123)

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