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Q1) A laser printer in a large firm operates properly 70% of the time A random sample of five jobs is taken What is the probability that the printer operates properly more than three times? (3 decimal places)

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Q2) Baby Pty Ltd is planning to launch a new brand of makeup product Based on market research, if sales are high they can make a profit of $139 million per year If sales are ‘so so’ they can make a profit of $53 million per year Finally, if sales are low they can lose $36 million per year The probability that sales will be high is 063 The probability that sales will be ‘so so’ is 028 Calculate the variance of profit for the new brand of makeup product (in $ millions2) Give your answer to two decimal places.

Gibbs' reflective cycle in nursing

Q3) Suppose the probability that you receive a distinction or higher in marketing is 051 and the probability that you receive a distinction or higher in microeconomics is 065 If it can be assumed that your performance in one course does not influence your performance in the other, what is the probability that you will receive a distinction or higher in at least one of these courses? (correct to 3 decimal places)

Q4) A building contractor tenders for a government office block and a sports gymnasium The office contract is to proceed first and the contractor estimates that his firm has a 67% chance of being awarded this contract If he fails to win the office contract, the contractor believes he has a 47% chance of winning the gym contract, though if successful with the official contract he believes the chance of winning the gym contract falls to 27% Determine the probability that the contractor wins both of the contracts (as a decimal to 3 decimal places)

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Q5) Given a binomial random variable with n = 25 and p = 061 find the probability of at least 8 but less than 15 successes (3 decimal places)?  Get Finance Help Today

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