1. The probability distribution for the rate of return on an investment is

Rate of Return

(In Percent) Probability

6.5 .1

8.8 .2

9.0 .2

10.2 .4

10.6 .1

a. What is the probability that the rate of return will be at least 10%?

b. What is the expected rate of return?

c. What is the variance of the rate of return?

2. In a large university, 85% of students live in dormitories. A random sample of 8 students is

selected. .

a. What is the probability that the sample contains

exactly three students who live in the dormitories?

c. What is the probability that the sample contains

more than three students who live in the

dormitories?

3. A cosmetics salesperson, who calls potential customers to sell her products, has determined

that 20% of her telephone calls result in a sale. Determine the probability distribution for her next three calls.

Note that the next three calls could result in 0, 1, 2, or 3 sales.

Q4. An insurance company has determined that each week an average of fifteen claims are filed in their

Atlanta branch. What is the probability that during the next week

a. Exactly seven claims will be filed?

b. Less than four claims will be filed?

d. More than eighteen claims will be filed?

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