Short Ans:

1) The binomial probability distribution, Poisson probability distribution and hypergeometric distributions all look much the same when graphed. Under what conditions would you apply each group of formulas?

2)

3) A provincial regulator is monitoring gas stations to ensure that a sufficient quantity of gasoline is being pumped for the price charged to the consumer. If gas puffmps are known to dispense 1.01 litres with a standard deviation of 0.02 litres, deter. mine the probability that a sample of 5 will have a mean less than 1.000 litre.

4)

5) Des. cribe how different business areas (accounting, finance, management and marketing) might use statistics.