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Discussion Board 6 – Expected Value, Binomial & Poisson
1. New applicants that s
Discussion Board 6 – Expected Value, Binomial & Poisson
1. New applicants that sign up for a brokerage account will get 1 share of stock from the company. They are randomly assigned, use the information from the table to answer the following questions: © Chris O’Byrne 2024
x
P(x)
$4
0.23
$9
0.34
$15
0.20
$20
0.13
$35
0.06
$60
0.04
A. What is the expected value of the stock that a new applicant will receive (no rounding)?
B. What is the probability that an applicant will get a stock valued at more than $9?
2. Of all the civil lawsuits filed in court, only 6.4% of them actually go to trial. If you were to randomly select 12 civil lawsuits, use this information to answer the following questions (round final answer to 5 decimal places): © Chris O’Byrne 2024
A. What is the probability that more than 1 lawsuit will go to trial?
B. What is the probability that at most 2 lawsuits will go to trial?
C. What is the probability that the first civil lawsuit will go to trial on the 7th selection?
D. What is the expected number of civil lawsuits that will go to trial?
© Chris O’Byrne 2024
3. Adults exercise 3.2 times per week. The probability that an adult exercises during the week is independent of whether they exercised or didn’t exercise during anytime that week. Exercising happens randomly throughout the period and the probability they exercise is the same for any interval. If they exercise or don’t exercise this does not influence or affect if they will exercise or not exercise in any other interval. Exercising happens randomly throughout the interval (round final answer to 5 decimal places): © Chris O’Byrne 2024
A. What is the probability that an adult will exercise at most 3 times during the week?
B. What is the probability that an adult will exercise at least 2 times during the week?
C. What is the probability that an adult will exercise 3 times during a 2-week period? (you need to adjust the period)
© Chris O’Byrne 2024
When doing and showing your work for the PDF – it should be handwritten as if you are figuring out the problem on the exam – it doesn’t need to be typed up – and I prefer that you DON’T type it out and that you hand write it.
This Discussion Board is Due Wednesday, July 17th by 11PM.
When you answer the question put the answers in this order and label like this:
1A.
1B.
2A.
2B.
2C.
2D.
3A.
3B.
3C.
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