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ECO 104.7 - Assignment III

The document discusses six problems related to probability and statistics. It provides examples of binomial, uniform, and normal distributions. It asks students to compute probabilities, means, and variances for random variables following these distributions. Students are asked to solve problems involving experiments with multiple outcomes, arrival rates over time, and values within given ranges of distributed variables.

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Sayeeda Jahan
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40 views2 pages

ECO 104.7 - Assignment III

The document discusses six problems related to probability and statistics. It provides examples of binomial, uniform, and normal distributions. It asks students to compute probabilities, means, and variances for random variables following these distributions. Students are asked to solve problems involving experiments with multiple outcomes, arrival rates over time, and values within given ranges of distributed variables.

Uploaded by

Sayeeda Jahan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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East West University

Department of Economics
ECO 104 (Section – 7), Spring’ 2021
Assignment III
(Due date: 17 May, 2021)

1. Three students scheduled interviews for summer employment at the BRAC Institute. In each case
the interview results in either an offer for a position or no offer. Experimental outcomes are defined
in terms of the results of the three interviews.
a. List the experimental outcomes.
b. Define a random variable that represents the number of offers made. Is the random variable
continuous?
c. Show the value of the random variable for each of the experimental outcomes.
(6 marks)
2. The probability distribution for the random variable x follows.

a. Is this probability distribution valid? Explain.


b. What is the probability that x = 30?
c. What is the probability that x is less than or equal to 25?
d. What is the probability that x is greater than 30?
e. Compute E(x), Var (x) and Standard deviation.
(10 marks)

3. For its Music 360 survey, Nielsen Co. asked teenagers and adults how each group has listened to
music in the past 12 months. Nearly two-thirds of U.S. teenagers under the age of 18 say they use
Google Inc.’s video-sharing site to listen to music and 35% of the teenagers said they use Pandora
Media Inc.’s custom online radio service (The Wall Street Journal, August 14, 2012). Suppose 10
teenagers are selected randomly to be interviewed about how they listen to music.

a. Is randomly selecting 10 teenagers and asking whether or not they use Pandora Media
Inc.’s online service a binomial experiment?
b. What is the probability that none of the 10 teenagers use Pandora Media Inc.’s online
radio service?
c. What is the probability that 4 of the 10 teenagers use Pandora Media Inc.’s online radio
service?
d. What is the probability that at least 2 of the 10 teenagers use Pandora Media Inc.’s online
radio service?
(8 marks)

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4. Airline passengers arrive randomly and independently at the passenger-screening facility at a
major international airport. The mean arrival rate is 10 passengers per minute.

a. Compute the probability of no arrivals in a one-minute period.


b. Compute the probability that three or fewer passengers arrive in a one-minute period.
c. Compute the probability of no arrivals in a 15-second period.
d. Compute the probability of at least one arrival in a 15-second period.
(8 marks)
5. The random variable x is known to be uniformly distributed between 10 and 20.
a. Show the graph of the probability density function.
b. Compute P(x < 15).
c. Compute P(12 ≤ x ≤ 18).
d. Compute E(x).
e. Compute Var(x).
(10 marks)

6. Draw a graph for the standard normal distribution. Label the horizontal axis at values of
−3, −2, −1, 0, 1, 2, and 3. Then use the table of probabilities for the standard normal distribution
inside the front cover of the text to compute the following probabilities.
a. P(z ≤ 1.5)
b. P(z ≤ 1)
c. P(1 ≤ z ≤ 1.5)
d. P(0 < z < 2.5)
(8 marks)
*N.B: There will be penalty on late submission.

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