1. During the period of time that a local university takes phone-in registrations, calls come in...

Question

Question

1. During the period of time that a local university takes phone-in registrations, calls come in...

1. During the period of time that a local university takes phone-in registrations, calls come in at the rate of one every two minutes.

b. What is the probability of no more than one call in five minutes?

c. What is the probability of three calls in two minutes?

2. The average annual percentage rate (APR) for credit cards held by U.S. consumers is approximately 15 percent (Ouch Credit Card APR Now Tops 15 Percent, Time, January 3, 2012). Suppose the APR for new credit card offers is normally distributed with a mean of 15% and a standard deviation of 4%.

a. What is the probability that APR charged by a credit card is greater than 17.5 percent?

b. What APR must a credit card charge to be in the bottom 10% of all cards?

math Statistics-And-Probability

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

Add a comment

Answer 2

Similar Homework Help Questions

During the period of time that a local university takes phone-in registrations, calls come in at...

During the period of time that a local university takes phone-in registrations, calls come in at the rate of one every two minutes. Clearly state what the random variable in this problem is? What is an appropriate distribution to be used for this problem and why? What is the expected number of calls in one hour? What is the probability of receiving three calls in five minutes? What is the probability of receiving NO calls in a 10-minute period? What...
During the period of time that a local university takes phone-in registrations, calls come in at...

During the period of time that a local university takes phone-in registrations, calls come in at the rate of one every two minutes. a. What is the expected number of calls in one hour? per hour b. What is the probability of three calls in five minutes (to 4 decimals)? c. What is the probability of no calls in a five-minute period (to 4 decimals)?
IN AN EXCEL FILE USING EXCEL FUNCTIONS CALCULATIONS SHOW FORMULAS IN CELL PLEASE 1) buring the...

IN AN EXCEL FILE USING EXCEL FUNCTIONS CALCULATIONS SHOW FORMULAS IN CELL PLEASE 1) buring the period of time that a local university takes phone-in registrations, calls come in at the rate of one every two minutes a. Clearly state what the random variable in this problem is? b. What is an appropriate distribution to be used for this problem and why? c. What is the expected number of calls in one hour? d. What is the probability of receiving...

Phone calls enter a support desk at the rate of 3 calls every 4 minutes. During...

Phone calls enter a support desk at the rate of 3 calls every 4 minutes. During a 12-minute period, what is the probability that: b) 5 calls or less enter the desk? c) More than 6 calls enter the desk?
please help with questions 5&6 thank you so much in advance! +-7.14 points ASWSBE13 5.E.053. 5....

please help with questions 5&6 thank you so much in advance! +-7.14 points ASWSBE13 5.E.053. 5. Suppose N 15 and r 6. What is the probability of x= 5 for n 107? (Round your answer to four decimal places.) - / 7.14 points ASWSBE13 5.E.047 6. You may need to use the appropriate appendix table or technology to answer this question. During the period of time that a local university takes phone-in registrations, calls come in at the rate of...
Phone calls arrive at the rate of 36 per hour at the reservation desk for Regional...

Phone calls arrive at the rate of 36 per hour at the reservation desk for Regional Airways. Phone calls arrive at the rate of 36 per hour at the reservation desk for Regional Airways. a. Compute the probability of receiving three calls in a 5-minute interval of time (to 4 decimals) b. Compute the probability of receiving exactly 12 calls in 15 minutes. (to 4 decimals) c. Suppose no calls are currently on hold. If the agent takes 5 minutes...

93. At a 911 call center, calls come in at an average rate of one call...

93. At a 911 call center, calls come in at an average rate of one call every two minutes. Assume that the time that elapses from one call to the next has the exponential distribution. Where appropriate, round answers to three decimal places (i.e. 0.123) a. On average, how much time occurs between five consecutive calls? Answer minutes b. Find the probability that after a call is received, it takes more than three minutes for the next call to occur....
Phone calls arrive at the rate of 48 per hour at the reservation desk for Regional...

Phone calls arrive at the rate of 48 per hour at the reservation desk for Regional Airways. a. Compute the probability of receiving two calls in a 10-minute interval of time. (to 4 decimals) b. Compute the probability of receiving exactly 13 calls in 15 minutes. (to 4 decimals) c. Suppose no calls are currently on hold. If the agent takes 5 minutes to complete the current call, how many callers do you expect to be waiting by that time?...
93. At a 911 call center, calls come in at an average rate of one call...

93. At a 911 call center, calls come in at an average rate of one call every two minutes. Assume that the time that elapses from one call to the next has the exponential distribution. Where appropriate, round answers to three decimal places (i.e. 0.123) a. On average, how much time occurs between five consecutive calls? Answer ____minutes b. Find the probability that after a call is received, it takes more than three minutes for the next call to occur....

TABLE 2-5 The following are the duration in minutes of a sample of long-distance phone calls...

TABLE 2-5 The following are the duration in minutes of a sample of long-distance phone calls made within the continental United States reported by one long-distance carrier. Relative Time (in Minutes) Frequency 0 but less than 5 0.37 5 but less than 10 0.22 10 but less than 15 0.15 15 but less than 20 0.10 20 but less than 25 0.07 25 but less than 30 0.07 30 or more 0.02 Referring to Table 2-5, what is the cumulative...

1. During the period of time that a local university takes phone-in registrations, calls come in...

Homework Answers

Add Answer to:
1. During the period of time that a local university takes phone-in registrations, calls come in...

Post as a guest

Earn Coins

During the period of time that a local university takes phone-in registrations, calls come in at...

During the period of time that a local university takes phone-in registrations, calls come in at...

IN AN EXCEL FILE USING EXCEL FUNCTIONS CALCULATIONS SHOW FORMULAS IN CELL PLEASE 1) buring the...

Phone calls enter a support desk at the rate of 3 calls every 4 minutes. During...

please help with questions 5&6 thank you so much in advance! +-7.14 points ASWSBE13 5.E.053. 5....

Phone calls arrive at the rate of 36 per hour at the reservation desk for Regional...

93. At a 911 call center, calls come in at an average rate of one call...

Phone calls arrive at the rate of 48 per hour at the reservation desk for Regional...

93. At a 911 call center, calls come in at an average rate of one call...

TABLE 2-5 The following are the duration in minutes of a sample of long-distance phone calls...

1. During the period of time that a local university takes phone-in registrations, calls come in...

Homework Answers

Add Answer to: 1. During the period of time that a local university takes phone-in registrations, calls come in...

Post as a guest

Earn Coins

Add Answer to:
1. During the period of time that a local university takes phone-in registrations, calls come in...