There is a 4% chance that that a band’s lead singer’s voice isn’t working (typically due...
There is a 4% chance that that a band’s lead singer’s voice isn’t working (typically due to illness) on any given day. What is the probability that the lead singer’s voice is will be fine at the band’s next gig?
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There is a 4% chance that that a band’s lead singer’s voice
isn’t working (typically due...
Question 4 2 pts Given that there is a 21% chance it will rain on any...
Question 4 2 pts Given that there is a 21% chance it will rain on any day, what is the probability that it will rain on the first day and be clear (not rain) on the next two days? Homework Help 2VA Probabilities given probability of success and 2 or more events 2 (0:51) 2DC. Probabilities given probability of success and 2 or more eventse (DOCX) 36.2% 21.0% 16.6% 13.1% estion 5 2 pts
4. An inspector working for a manufacturing company has a 95% chance of correctly identifying defective...
4. An inspector working for a manufacturing company has a 95% chance of correctly identifying defective items and a 1% chance of incorrectly classifying a good item as defective. The company has evidence that 0.5% of the items its line produce are nonconforming. (a) What is the probability that an item selected for inspection is classified as defective? (b) If an tem selected at random is classified as defective, what is the probability that it is indeed nonconforming? c) If...
Data available from Weather Underground indicates that in Minneapolis in 2017, if there was pre cipitation on a given day, then there was approximately a 25% chance of precipitation the next day....
Data available from Weather Underground indicates that in Minneapolis in 2017, if there was pre cipitation on a given day, then there was approximately a 25% chance of precipitation the next day. On the other hand, if a given day had no precipitation, then there was a 30% chance there was no precipitation the next day. We want to use this data to forecast weather for this year (a) (6 points) Set up a Markov chain model to determine the...
Suppose there is a 1-in-100 chance that the Golden Gate Bridge will collapse due to a...
Suppose there is a 1-in-100 chance that the Golden Gate Bridge will collapse due to a catastrophic event in any given year. The bridge is insured for $5 billion over a 20-year policy, and in the case of collapse, your insurance company will be required to pay out that entire amount. The discount rate mandated by San Francisco agencies is 5%. 1. What is the probability that the bridge does not collapse over the insurance policy period? 2. Use expected...
4. A gold miner has a claim in the Yukon. Every day he goes to his...
4. A gold miner has a claim in the Yukon. Every day he goes to his claim and mines for gold. Assume that on any given day the probability that he will find gold is 0.005. Assume that his chance of finding gold on a particular day is independent of his finding gold on any other day. a. what is the expected number of days that it will take him to find gold for the first time? b. if he...
4. (30 points) The printer at the CAEN lab works as follows. If it is working...
4. (30 points) The printer at the CAEN lab works as follows. If it is working at the beginning of a day, it continues to work until the next day with probability 0.65, and it fails with probability 0.35 (assume that it works for the entire day and only has a probability of failing when it is turned off at the end of the day). The repairman is very efficient: if the printer has failed at the end of the...
QUESTION 4 [4] A short term insurance company receives five motor vehicle claims, on average, per...
QUESTION 4 [4] A short term insurance company receives five motor vehicle claims, on average, per day. Assume that the daily claims follow a Poisson process. a) What is the probability that more than one motor vehicle claim is received over any given period of two working days? (2) b) What is the probability that more than 6 but less than 9 motor vehicle claims will be received in any given day? (2)
Suppose I work in a factory which does not have the best safety record. On any...
Suppose I work in a factory which does not have the best safety record. On any given day (independent of all other days) there is a 5% chance that there will be a workplace injury. Let X be the number of days until we have a workplace injury. What is the distribution of X? Give the name of the distribution and the appropriate parameters. What is the mean and variance of this distribution? Give your answer as a number, but...
4. The amount of time T (in hours) that a certain electrical component takes to fail...
4. The amount of time T (in hours) that a certain electrical component takes to fail has an exponential distribution with parameter > 0. The component is found to be working at midnight on a certain day. Let N be the number of full days after this time before the component fails (so if the component fails before midnight the next day, N = 0). (a) What is the probability that the component lasts at least 24 hours? (b) Find...
(1) Is there a greater chance of market failure (no transaction due to gap between asking...
(1) Is there a greater chance of market failure (no transaction due to gap between asking & bid price) in the contemporary relationship between potential investors (shareholders in public) and professional managers (separation of ownership and management)? (2) Will auditor's role change under the contemporary shareholder/professional management relationship? Why & why not? (3) what do you think was the biggest benefit of auditing function in the early British financial market? (4) One of the very interesting practices in Britain at...
Question 4 2 pts Given that there is a 21% chance it will rain on any day, what is the probability that it will rain on the first day and be clear (not rain) on the next two days? Homework Help 2VA Probabilities given probability of success and 2 or more events 2 (0:51) 2DC. Probabilities given probability of success and 2 or more eventse (DOCX) 36.2% 21.0% 16.6% 13.1% estion 5 2 pts
4. An inspector working for a manufacturing company has a 95% chance of correctly identifying defective items and a 1% chance of incorrectly classifying a good item as defective. The company has evidence that 0.5% of the items its line produce are nonconforming. (a) What is the probability that an item selected for inspection is classified as defective? (b) If an tem selected at random is classified as defective, what is the probability that it is indeed nonconforming? c) If...
Data available from Weather Underground indicates that in Minneapolis in 2017, if there was pre cipitation on a given day, then there was approximately a 25% chance of precipitation the next day. On the other hand, if a given day had no precipitation, then there was a 30% chance there was no precipitation the next day. We want to use this data to forecast weather for this year (a) (6 points) Set up a Markov chain model to determine the...
4. (30 points) The printer at the CAEN lab works as follows. If it is working at the beginning of a day, it continues to work until the next day with probability 0.65, and it fails with probability 0.35 (assume that it works for the entire day and only has a probability of failing when it is turned off at the end of the day). The repairman is very efficient: if the printer has failed at the end of the...
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