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Exercises For Practice

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Anosh Doodhmal
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8 views

Exercises For Practice

Quant

Uploaded by

Anosh Doodhmal
Copyright
© Attribution Non-Commercial (BY-NC)
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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1. A survey by United India Insurance co.

revealed that 75% of the recent purchasers of insurance policies did not shop around (do they conduct such surveys?). A random sample of eight recent purchasers of insurance policies was selected. a) How many would you expect shopped around before buying? b) What is the probability that all eight didnt shop around before buying in part a) above? Would this outcome be considered a rare event? c) Within what limits would you expect the number of purchasers who did not shop around to fall at least 75% of the time, if repeated samples of size eight were taken?

2. The probability of getting a call and 2 calls are the same for a particular time period. What is probability of getting exactly 5 calls during that time

3. A seed distributor finds that on the average 5% of his seeds will not germinate. He puts them up in packages of 100 and guarantees 90% germination. Find the probability that a given package will violate the guarantee

4. It is known that 35% of all candidates fail in the first attempt to pass test for driver's license in a particular city. For a random sample of five candidates taking the test for the first time:

i. ii.

what is the probability that all of them will fail? what is the probability that majority of them will pass?

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