Submit your solutions to problems #1,2,3,4 (page 248), #7,8,11 (page 249).

7. | Basic Computation: Expected Value and Standard Deviation Consider the probability distribution shown in Problem 3(a). Compute the expected value and the standard deviation of the distribution. 8. | Basic Computation: Expected Value For a fundraiser, 1000 raffle tickets are sold, and the winner is chosen at random. There is only one prize, $500 in cash. You buy one ticket. (a) What is the probability you will win the prize of $500? (b) Your expected earnings can be found by multiplying the value of the prize by the probability you will win the prize. What are your expected earnings? (c) Interpretation If a ticket costs $2, what is the difference between your "costs" and "expected earnings"? How much are you effectively contribu uting to the fundraiser?super shoppers, d plain. probability distribution of part (a). expected age u of a super shopper. 1) Compute the standard deviation o for ages of super shoppers. 11. | Marketing: Income What is the income distribution of super shoppers (see Problem 10). In the following table, income units are in thousands of dollars and each interval goes up to but does not include the given high value. The midpoints are given to the nearest thousand dollars.1. Statistical Literacy Which of the following are continuous variables, and which are discrete? (a) Number of traffic fatalities per year in the state of Florida (b) Distance a golf ball travels after being hit with a driver (c) Time required to drive from home to college on any given day (d) Number of ships in Pearl Harbor on any given day (e) Your weight before breakfast each morning 2. | Statistical Literacy Which of the following are continuous variables, and which are discrete? (a) Speed of an airplane (b) Age of a college professor chosen at random (c) Number of books in the college bookstore (d) Weight of a football player chosen at random (e) Number of lightning strikes in Rocky Mountain National Park on a given day 3. |Statistical Literacy Consider each distribution. Determine if it is a valid probability distribution or not, and explain your answer. (a) X 0 1 2 (b ) 0 1 2 P(x) 0.25 0.60 0.15 P(x) 0.25 0.60 0.20 4. | Statistical Literacy At State College all classes start on the hour, with the ear- liest start time at 7 A.M. and the latest at 8 P.M. A random sample of freshmen showed the percentages preferring the listed start times. Start Time 7 or 8 A.M. 9,10,or 11A.M. 12 or 1 P.M. 1 P.M., or later after 5 P.M., % preferring 10% 35% 28% 25% 15% Can this information be used to make a discrete probability distribution? Explain