Question

Excel.. Sav. Insert Design Layout References. Mailings Review View Help Tell me File Home Calibri (Body) Paste Clipboard Font Paragraph Styles R klomework #2 Due Tuesday May 28th, 2019 at 9:15AM This assignment deals with constructing contingency tables and calculating the probabilities of different events. Use the information in the Home Price dataset for the following questions. Use Excel to calculate your answers and format your spreadsheet so it is easily readable. Round all your answers to three decimal places. 1. Contingency Tables Construct a contingency table for the frequency of Indiana counties that had (a) mean home prices above $125,000 and (b) the number of counties that had populations of at least the mean population across all Indiana counties in 2016. Add a total row and column so that your table looks something like below: (10 POINTS) a. At Least the Below the Mean Home Price Below $125,000 At Least $125,000 Total b. Construct a joint probability table for the relevant probabilities corresponding to the 377 vords Page 1 of 1 O Type here to search ac Kimberley Cutter insert Design Layout References Mailing: Review View Help Tell me le File Home Calibri (Body) Paste Styles Editing A Paragraph Clipboard Font G Styles b. Construct a joint probability table for the relevant probabilities corresponding to the frequencies in part (a). As in part (a), add a total row and column so that your table is similar to part (a). (S POINTS) 2. Binomial Distribution (20 POINTS) Let x, represent the discrete random variable of small businesses that fail. The probability that any one small business fails in the first year is 20%. Assume we sample 150 businesses in their first year. Answer the following problems using the built in binomial function in excel. What is the expected number of businesses that fail in the first year? What is the probability that exactly 30 of the 150 small businesses fail within the first year? What is the probability that at least 25 of the small businesses fail within the first year? What is the probability that more than 30 but 40 or fewer small businesses fail within the first year i.e. P(30

Answer 1

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