Microeconomics

school principal #1 a) The variable of interest is the act of pay-checks that were regard wrongly. b) Given the following data; the figure of speech of trials (350) and the opportunity of achievement (0.005), we can calculate the probability of failure (0.995). thence the permit distribution bequeath be the Binomial peck Distribution. The parameters argon:- ? n = 350 ? P = 0.005 ? Q = 0.995 c) allow the r.v. be the number of pay-checks that were work out incorrectly X ( BIN (n, p) X ( BIN (350, 0.005) conventionalismP ( X = x ) = nCX px qn x P ( X = 1 ) = 350C1 (0.005)1 (0.995)349 = (350) (0.005) (0.174) = 0.3045 The probability of finding one payroll check that was calculated incorrectly is 0.3045. d) Expectation of X is E(X) = np E(X) = (350) (0.005) E(X) = 1.75 In a inclined month, 1.75 employees payroll would be calculated incorrectly. QUESTION #2 Using the Poisson Probability distribution: Let X be the r.v. No. of major hurricanes to hit the U.S.A. ? = 0.6 X ( Po (?) X ( Po (0.6) decreeP(X = x) = e ? ?x X !

P ( X > 1 ) = 1 P(X ? 1 ) = 1 P(X = 0) + P(X = 1) P(X = 0) = e 0.6 (0.6)0 = e 0.6 0 ! P(X = 1) = e 0.6 (0.6)1 = 0.6 e 0.6 ! 1 ! P(X > 1) = 1 e 0.6 + 0.6 e 0.6 = 1 0.549 + 0.329 = 1 0.878 = 0.122 The probability that much than one major hurricane will strike the USA is 0.122 in that given year. QUESTION #3 Let the r.v. be the number of hours per week adults spend on household computers: X ( N ((,(2) X ( N (8, 12) FormulaP = X - ( ( P ( 5.5 < X < 9.5 )...If you indispensableness to get a full essay, order it on our website: BestEssayCheap.com

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