Question number one

81% 1 2:29 Mid term exam.... 2 : HAL ISLAMIC International Islamic University, Islamabad. Faculty of Management Sciences fms Spring 2021, Mid term Paper Course Name: - Statistical Inference Instructor: - Komal Khalid Course Code: - QNT401 Batch: - BBAF19(A&B) Max Marks: - 20 Date & Time Allowed: 14,04, 2021: 3hrs Note: Attempt all Questions. Q1 :( 3+4+3) a) Suppose you are trying to decide what to have for breakfast. You can chose between cereal and a toast, and you have four choices for what to drink: coffee (hot or cold), juice (apple or orange), tea (iced or hot), or water (Sparkling or cold). Draw a tree diagram for all the possibilities. Write down the possibility space. b) Bill Johnson has just bought a VCR from Jim's Videotape Service at a cost of $300. He now, has the option of buying an extended service warranty offering 5 years of coverage for $100. After talking to friends and reading reports, Bill believes the following maintenance expenses could be incurred during the next five years: Expense 0 50 100 150 |200 250 300 Probability | 0.35 0.25 0.15 0.10 0.08 0.05 0.02 Find the expected value of the anticipated maintenance costs. Should Bill pay $100 for the warranty? c) If a population is given as (3, 5, 7, 9, 11) after selecting all possible samples of size 2 with replacement, find sample mean and standard deviation (also draw sampling distribution table). Discuss the relationship between x and u. Q2: (5+5) a) Given that a random variable, X, has a normal distribution with mean 6.4 and standard deviation 2.7, find (i) P(4.0 2.0). (iii) P(x