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31 . The domain of X = {1, 2, 3, 4, 5, 6, 7, 8., 9, 10, 11, 12…27}. Because you are drawing without replacement, and 26 of the 52 cards are red, you have to draw a red card within the first 17 draws.

32 . X ~ G (0.24)

33 . μ =   1 p =   1 0.27 = 3.70

34 . σ =   1 p p 2 =   1 0.27 0.27 2 = 3.16

4.5: hypergeometric distribution

35 . Yes, because you are sampling from a population composed of two groups (boys and girls), have a group of interest (boys), and are sampling without replacement (hence, the probabilities change with each pick, and you are not performing Bernoulli trials).

36 . The group of interest is the cards that are spades, the size of the group of interest is 13, and the sample size is five.

4.6: poisson distribution

37 . A Poisson distribution models the number of events occurring in a fixed interval of time or space, when the events are independent and the average rate of the events is known.

38 . X ~ P (4)

39 . The domain of X = {0, 1, 2, 3, …..) i.e., any integer from 0 upwards.

40 . μ = 4
σ = 4 = 2

5.1: continuous probability functions

41 . The discrete variables are the number of books purchased, and the number of books sold after the end of the semester. The continuous variables are the amount of money spent for the books, and the amount of money received when they were sold.

42 . Because for a continuous random variable, P ( x = c ) = 0, where c is any single value. Instead, we calculate P ( c < x < d ), i.e., the probability that the value of x is between the values c and d .

43 . Because P ( x = c ) = 0 for any continuous random variable.

44 . P ( x >5) = 1 – 0.35 = 0.65, because the total probability of a continuous probability function is always 1.

45 . This is a uniform probability distribution. You would draw it as a rectangle with the vertical sides at 0 and 20, and the horizontal sides at 1 10 and 0.

46 . P ( 0   < x < 4 ) = ( 4 0 ) ( 1 10 ) =   0.4

5.2: the uniform distribution

47 . P ( 2   < x < 5 ) = ( 5 2 ) ( 1 10 ) =   0.3

48 . X ~ U (0, 15)

49 . f ( x ) = 1 b a for ( a x b )  so  f ( x ) = 1 30 for ( 0 x 30 )

50 . μ =   a + b 2 =   0 + 30 5 = 15.0
σ =   ( b a ) 2 12 =   ( 30 0 ) 2 12 = 8.66

51 . P ( x < 10 ) = ( 10 ) ( 1 30 ) =   0.33

5.3: the exponential distribution

52 . X has an exponential distribution with decay parameter m and mean and standard deviation 1 m . In this distribution, there will be a relatively large numbers of small values, with values becoming less common as they become larger.

53 . μ = σ = 1 m = 1 10 = 0.1

54 . f ( x ) = 0.2 e –0.2 x where x ≥ 0.

6.1: the standard normal distribution

55 . The random variable X has a normal distribution with a mean of 100 and a standard deviation of 15.

56 . X ~ N (0,1)

57 . z = x μ σ so z = 112 109 4.5 = 0.67

58 . z = x μ σ so z = 100 109 4.5 = 2.00

59 .   z = 105 109 4.5 = −0.89
This girl is shorter than average for her age, by 0.89 standard deviations.

60 . 109 + (1.5)(4.5) = 115.75 cm

61 . We expect about 68 percent of the heights of girls of age five years and zero months to be between 104.5 cm and 113.5 cm.

62 . We expect 99.7 percent of the heights in this distribution to be between 95.5 cm and 122.5 cm, because that range represents the values three standard deviations above and below the mean.

6.2: using the normal distribution

63 . Yes, because both np and nq are greater than five.
np = (500)(0.20) = 100 and nq = 500(0.80) = 400

Questions & Answers

Ayele, K., 2003. Introductory Economics, 3rd ed., Addis Ababa.
Widad Reply
can you send the book attached ?
Ariel
?
Ariel
What is economics
Widad Reply
the study of how humans make choices under conditions of scarcity
AI-Robot
U(x,y) = (x×y)1/2 find mu of x for y
Desalegn Reply
U(x,y) = (x×y)1/2 find mu of x for y
Desalegn
what is ecnomics
Jan Reply
this is the study of how the society manages it's scarce resources
Belonwu
what is macroeconomic
John Reply
macroeconomic is the branch of economics which studies actions, scale, activities and behaviour of the aggregate economy as a whole.
husaini
etc
husaini
difference between firm and industry
husaini Reply
what's the difference between a firm and an industry
Abdul
firm is the unit which transform inputs to output where as industry contain combination of firms with similar production 😅😅
Abdulraufu
Suppose the demand function that a firm faces shifted from Qd  120 3P to Qd  90  3P and the supply function has shifted from QS  20  2P to QS 10  2P . a) Find the effect of this change on price and quantity. b) Which of the changes in demand and supply is higher?
Toofiq Reply
explain standard reason why economic is a science
innocent Reply
factors influencing supply
Petrus Reply
what is economic.
Milan Reply
scares means__________________ends resources. unlimited
Jan
economics is a science that studies human behaviour as a relationship b/w ends and scares means which have alternative uses
Jan
calculate the profit maximizing for demand and supply
Zarshad Reply
Why qualify 28 supplies
Milan
what are explicit costs
Nomsa Reply
out-of-pocket costs for a firm, for example, payments for wages and salaries, rent, or materials
AI-Robot
concepts of supply in microeconomics
David Reply
economic overview notes
Amahle Reply
identify a demand and a supply curve
Salome Reply
i don't know
Parul
there's a difference
Aryan
Demand curve shows that how supply and others conditions affect on demand of a particular thing and what percent demand increase whith increase of supply of goods
Israr
Hi Sir please how do u calculate Cross elastic demand and income elastic demand?
Abari
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Source:  OpenStax, Introductory statistics. OpenStax CNX. May 06, 2016 Download for free at http://legacy.cnx.org/content/col11562/1.18
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