Find the indicated probabilities using the geometric distribution, the Poisson distribution, or the binomial distribution. Then...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Find the indicated probabilities using the geometric distribution, the Poisson distribution, or the binomial distribution. Then determine if the events are unusual. If convenient, use the appropriate probability table or technology to find the probabilities. The mean number of oil tankers at a port city is 9 per day. The port has facilities to handle up to 12 oil tankers in a day. Find the probability that on a given day, (a) nine oil tankers will arrive, (b) at most three oil tankers will arrive, and (c) too many oil tankers will arrive. (a) P(nine oil tankers will arrive) =| (Round to four decimal places as needed.) (b) P(at most three oil tankers will arive) =| (Round to four decimal places as needed.) (c) P(too many oil tankers will arrive)=| (Round to four decimal places as needed.) O A. The event in part (a) is unusual. B. The event in part (b) is unusual. O C. The event in part (c) is unusual. D. None of the events are unusual. Find the indicated probabilities using the geometric distribution, the Poisson distribution, or the binomial distribution. Then determine if the events are unusual. If convenient, use the appropriate probability table or technology to find the probabilities. The mean number of oil tankers at a port city is 9 per day. The port has facilities to handle up to 12 oil tankers in a day. Find the probability that on a given day, (a) nine oil tankers will arrive, (b) at most three oil tankers will arrive, and (c) too many oil tankers will arrive. (a) P(nine oil tankers will arrive) =| (Round to four decimal places as needed.) (b) P(at most three oil tankers will arive) =| (Round to four decimal places as needed.) (c) P(too many oil tankers will arrive)=| (Round to four decimal places as needed.) O A. The event in part (a) is unusual. B. The event in part (b) is unusual. O C. The event in part (c) is unusual. D. None of the events are unusual.
Expert Answer:
Answer rating: 100% (QA)
tef X be the no of tonkess Qrri ving days in a 9 If xN p... View the full answer
Related Book For
Understanding Business Statistics
ISBN: 978-1118145258
1st edition
Authors: Stacey Jones, Tim Bergquist, Ned Freed
Posted Date:
Students also viewed these mathematics questions
-
The mean number of oil tankers at a port city is eight per day. Find the probability that the number of oil tankers on any given day is (a) Exactly eight, (b) At most three, (c) More than eight. Find...
-
The time between arrivals of oil tankers at a loading dock at Prudhoe Bay is given by the following probability distribution: Time Between Ship Arrivals (days) . Probability 1 ......... .05 2...
-
Find the indicated probabilities using the geometric distribution, the Poisson distribution, or the binomial distribution Then determine if the events are unusual. If convenient, use the appropriate...
-
4 pts A lottery winner will receive $0.5 mulhon at the end of each of the next se yearn. What is the future value of her winnings at the time of her final payment, given that the interest rate is 6%...
-
Panther Productions is negotiating the next sequel to its Illinois Jones series. This negotiation is proving more difficult than for the original movie. There is a risk that the series may have...
-
A U.S. pharmaceutical company is considering manufacturing and marketing a pill that will help to lower both an individuals blood pressure and cholesterol. The company is interested in understanding...
-
A happy Call option is a Call option with payoff \(\max (\alpha S, S-K)\). So we always get something with a happy Call! If \(C_{1}\) and \(C_{2}\) are the prices of two call options with strikes \(n...
-
Sublime Sandals Company was formed on January 1, 2014, and is preparing its annual financial statements dated December 31, 2014. Ending inventory information about the four major items stocked for...
-
The short-term financing policies can be flexible or restrictive. Discuss THREE (3) advantages and TWO (2) disadvantages of the Restrictive policy.
-
Tom Fox bought 8 bonds of UXY Company 3 1/2 09 at 84 and 4 bonds of Foot Company 4 1/8 10 at 93. Assume the commission on the bonds is $3 per bond. What was the total cost of all the purchases?
-
ARG Co is a leisure company that is recovering from a loss-makingventure into magazine publication three years ago. The company plans tolaunch two new products, Alpha and Beta, at the start of July...
-
Assume that 90-day U.S. securities have a 4.5% annualized interest rate whereas 90-day Swiss securities have a 5% annualized interest rate. In the spot market, 1 U.S. dollar can be exchanged for 1.2...
-
Why would management want to increase the riskiness of the firm? Why would this make bondholders unhappy?
-
What does the Miller model with personal and corporate taxes imply about value relative to the MM model with just corporate taxes?
-
What two characteristics can lead to conflicts between the NPV and the IRR when evaluating mutually exclusive projects?
-
Why does the MM theory with corporate taxes lead to 100% debt?
-
Draw 8-1 multiplexer with 3 control lines to implement the function defined by the truth table below. ABC Output 000 1 001 0 010 0 0 1 1 1 100 0 101 1 1 10 1 111 0
-
Consider the function f and its graph. a. Estimate the zeros of the area function b. Estimate the points (if any) at which A has a local maximum or minimum. c. Sketch a graph of A, for 0 x 10,...
-
Use the standard normal table to determine the z-score necessary to construct a symmetric interval around the mean of a normal distribution in order to bound a. 90% of the values in the distribution....
-
You plan to take a random sample from a population of 500 items and build a 95% confidence interval estimate of the population mean. a. You want a margin of error no bigger than 5. You estimate the...
-
Exercise 19 dealt with a study indicating that the commercial success rate for wells drilled with 3-D seismic data is 70%. You randomly select 30 drilling sites that are using this kind of data....
-
A recent study by the Kaiser Family Foundation looked at the role of media (for example, television, books, computers) in the lives of children. The report, which is on the Kaiser Family Foundation...
-
For the past 100 years, the mean batting average in the major leagues has remained fairly constant at about 0.260. However, the standard deviation of batting averages has decreased from about 0.049...
-
Jennifer is given a pregnancy test. What does it mean when she is told that the result is positive?
Study smarter with the SolutionInn App