Proportion of rolls that pass inspection is to be determined. Concept Introduction: : Poisson distribution is the probability distribution of discrete random variable series in which frequency of outcomes is calculated in a given period of time. There is 67.66% probability that rolls would pass the inspection.

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Answer 1

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Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

Chapter 12.4, Problem 19P

a

Summary Introduction

Interpretation:

Proportion of rolls that pass inspection is to be determined.

Concept Introduction: : Poisson distribution is the probability distribution of discrete random variable series in which frequency of outcomes is calculated in a given period of time.

There is 67.66% probability that rolls would pass the inspection.

b

Summary Introduction

Interpretation:

The proportion calculated in part a) using normal approximation to Poisson is to be determined.

Concept Introduction:

Normal distribution is the probability function with continuous series. It is bell shaped distribution function where mean, median and mode are same.

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Amertron, discussed in the given problem, has established a policy of passing rolls of wire having five or fewer defects.a. Based on the exact Poisson distribution, what is the proportion of the rolls that pass inspection? b. Estimate the answer to part (a) using the normal approximation to the Poisson.

A family of mutual funds maintains a service that allows clients to switch money among accounts through a telephone call. It was estimated that 3.2% of callers either get a busy signal or are kept on hold so long that they may hang up. Fund management assesses any failure of this sort as a $10 goodwill loss. Suppose that 2,000 calls are attempted over a particular period. a. Find the mean and standard deviation of the number of callers who will either get a busy signal or may hang up after being kept on hold. b. Find the mean and standard deviation of the total goodwill loss to the mutual fund company from these 2,000 calls.

Answer 2

Question

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

Chapter 12.4, Problem 19P

a

Summary Introduction

Interpretation:

Proportion of rolls that pass inspection is to be determined.

Concept Introduction: : Poisson distribution is the probability distribution of discrete random variable series in which frequency of outcomes is calculated in a given period of time.

There is 67.66% probability that rolls would pass the inspection.

b

Summary Introduction

Interpretation:

The proportion calculated in part a) using normal approximation to Poisson is to be determined.

Concept Introduction:

Normal distribution is the probability function with continuous series. It is bell shaped distribution function where mean, median and mode are same.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 3

Question

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

Chapter 12.4, Problem 19P

a

Summary Introduction

Interpretation:

Proportion of rolls that pass inspection is to be determined.

Concept Introduction: : Poisson distribution is the probability distribution of discrete random variable series in which frequency of outcomes is calculated in a given period of time.

There is 67.66% probability that rolls would pass the inspection.

b

Summary Introduction

Interpretation:

The proportion calculated in part a) using normal approximation to Poisson is to be determined.

Concept Introduction:

Normal distribution is the probability function with continuous series. It is bell shaped distribution function where mean, median and mode are same.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 4

Question

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

Chapter 12.4, Problem 19P

a

Summary Introduction

Interpretation:

Proportion of rolls that pass inspection is to be determined.

Concept Introduction: : Poisson distribution is the probability distribution of discrete random variable series in which frequency of outcomes is calculated in a given period of time.

There is 67.66% probability that rolls would pass the inspection.

b

Summary Introduction

Interpretation:

The proportion calculated in part a) using normal approximation to Poisson is to be determined.

Concept Introduction:

Normal distribution is the probability function with continuous series. It is bell shaped distribution function where mean, median and mode are same.

Expert Solution & Answer

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Check out a sample textbook solution

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Answer 5

Chapter 12.4, Problem 19P

a

Summary Introduction

Interpretation:

Proportion of rolls that pass inspection is to be determined.

Concept Introduction: : Poisson distribution is the probability distribution of discrete random variable series in which frequency of outcomes is calculated in a given period of time.

There is 67.66% probability that rolls would pass the inspection.

b

Summary Introduction

Interpretation:

The proportion calculated in part a) using normal approximation to Poisson is to be determined.

Concept Introduction:

Normal distribution is the probability function with continuous series. It is bell shaped distribution function where mean, median and mode are same.

Answer 6

Chapter 12.4, Problem 19P

a

Summary Introduction

Interpretation:

Proportion of rolls that pass inspection is to be determined.

Concept Introduction: : Poisson distribution is the probability distribution of discrete random variable series in which frequency of outcomes is calculated in a given period of time.

There is 67.66% probability that rolls would pass the inspection.

Answer 7

Chapter 12.4, Problem 19P

a

Summary Introduction

Interpretation:

Proportion of rolls that pass inspection is to be determined.

Concept Introduction: : Poisson distribution is the probability distribution of discrete random variable series in which frequency of outcomes is calculated in a given period of time.

There is 67.66% probability that rolls would pass the inspection.

Answer 8

b

Summary Introduction

Interpretation:

The proportion calculated in part a) using normal approximation to Poisson is to be determined.

Concept Introduction:

Normal distribution is the probability function with continuous series. It is bell shaped distribution function where mean, median and mode are same.

Answer 9

b

Summary Introduction

Interpretation:

The proportion calculated in part a) using normal approximation to Poisson is to be determined.

Concept Introduction:

Normal distribution is the probability function with continuous series. It is bell shaped distribution function where mean, median and mode are same.

Answer 10

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Answer 11

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Answer 12

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Answer 13

Ch. 12.1 - Prob. 2P Ch. 12.1 - Prob. 3P Ch. 12.1 - Prob. 4P Ch. 12.1 - Prob. 5P Ch. 12.1 - Prob. 6P Ch. 12.2 - Prob. 7P Ch. 12.2 - Prob. 8P Ch. 12.2 - Prob. 9P Ch. 12.2 - Prob. 10P Ch. 12.2 - Prob. 11P

Solution Summary: The author explains the probability distribution of discrete random variable series in which frequency of outcomes is calculated in a given period of time.

Concept explainers

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Interpretation:

The proportion calculated in part a) using normal approximation to Poisson is to be determined.

Concept Introduction:

Normal distribution is the probability function with continuous series. It is bell shaped distribution function where mean, median and mode are same.

Want to see the full answer?

Chapter 12 Solutions

Solution Summary: The author explains the probability distribution of discrete random variable series in which frequency of outcomes is calculated in a given period of time.

Concept explainers

Videos

Interpretation: The proportion calculated in part a) using normal approximation to Poisson is to be determined. Concept Introduction: Normal distribution is the probability function with continuous series. It is bell shaped distribution function where mean, median and mode are same.

Want to see the full answer?

Chapter 12 Solutions

Interpretation:

The proportion calculated in part a) using normal approximation to Poisson is to be determined.

Concept Introduction:

Normal distribution is the probability function with continuous series. It is bell shaped distribution function where mean, median and mode are same.