Q1- Suppose you invest a fixed sum of money in each of five Internet business ventures. Assume you know that 70% of each ventures are successful, the outcomes of the ventures are independent of one another, and the probability distribution for the number, x, of the successful ventures out of five is
x
0
1
2
3
4
P(x)
0.002
0.029
0.132
0.360
0.168
a) Calculate µ.
b) Calculate variance.
c) Calculate standard deviation.
Q2- If x is a binomial random variable, compute p(x) for the following
case: n= 6, p = 0.37 Find the following probabilities:
a) p(x= 2)
b) p(x>4)
c)p(x≤ 3)
c) Calculate µ
d) Calculate s2
e) Calculate s
1) Assuming the Graduate Management Administration Test (GMAT) scores are normally distributed with mean 500, and standard deviation 100 . find the following probabilities:
a) What proportion falls between 500 and 550?
b) What proportion falls between 450 and 600?
c) What proportion falls between 550 and 750?
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