You are going on a trip with some friends, and you need to rent 4 large cars to get all of you to the beach There are 15 SUVs and 10 minivans on the lot The rental car dealer will pick 4 cars at random You are hoping to get SUVs because you think they look more stylish a What is a success in this s...

a A success is getting an SUV failures are minivans b X is the number of SUVs you get ...

You are going on a trip with some friends, and you need to rent 4 large cars

Question:

You are going on a trip with some friends, and you need to rent 4 large cars to get all of you to the beach. There are 15 SUVs and 10 minivans on the lot. The rental car will pick 4 cars at random. You are hoping to get SUVs because you think they look more stylish.
a. What is a success in this story? What is a failure?
b. Explain in words what X is in terms of this story. What values can it take?
c. Why is this a Hypergeometric situation? What are the parameters?
d. What is the probability you get 3 SUVs?
e. Given that you get at least 1 SUV, what is the probability you get at least 3 SUVs?
f. What is the expected number of SUVs you will get?
g. What is the standard deviation in the number of SUVs you will get?
h. What is the expected number of minivans you will get?
i. What is the standard deviation in the number of minivans you will get? Dealer
A dealer in the securities market is an individual or firm who stands ready and willing to buy a security for its own account (at its bid price) or sell from its own account (at its ask price). A dealer seeks to profit from the spread between the...