Random Variable and Answer
Question 1 .5 out of 5 points The __________ is the maximum value that one would be willing to pay for additional information
Answer
Selected Answer: expected value of perfect information
. Question 2 .0 out of 5 points The credit scores of a certain population are approximately normally distributed with a mean of 645 points and a standard deviation of 65 points. The credit score of an individual should belong to the top 5% of the credit scores in order to qualify for a home loan. What is the minimum credit score required in order to qualify for a home loan? Round your answer to the nearest whole number.
Answer
Selected Answer: 538 . Question 3 .0 out of 5 points The drying rate in an industrial process is dependent on many factors and varies according to the following distribution.
What is the probability that a drying time will be at most 5 minutes?
Answer
Selected Answer: .44 . Question 4 .0 out of 5 points A fair coin is tossed 10 times. What is the probability that a tail will be observed at least 4 times? Round your answer to four places after the decimal.
Answer
Selected Answer: .5006 . Question 5 .5 out of 5 points An automotive center keeps tracks of customer complaints received each week. The probability distribution for complaints can be represented as a table or a graph, both shown below. The random variable xi represents the number of complaints, and p(xi) is the probability of receiving xi complaints.
xi 0 1 2 3 4 5 6 p(xi) .15 .1 .28 .20 .10 .10 .07
What is the expected number of complaints received per week? Round your answer to two places after the decimal.
Answer
Selected Answer: 2.58 . Question 6 .5 out of 5 points Deterministic techniques assume that no uncertainty exists in model parameters. Answer
Selected Answer: True . Question 7 .5 out of 5 points Excel can be used to simulate systems that are
Answer
Selected Answer: expected value of perfect information
. Question 2 .0 out of 5 points The credit scores of a certain population are approximately normally distributed with a mean of 645 points and a standard deviation of 65 points. The credit score of an individual should belong to the top 5% of the credit scores in order to qualify for a home loan. What is the minimum credit score required in order to qualify for a home loan? Round your answer to the nearest whole number.
Answer
Selected Answer: 538 . Question 3 .0 out of 5 points The drying rate in an industrial process is dependent on many factors and varies according to the following distribution.
What is the probability that a drying time will be at most 5 minutes?
Answer
Selected Answer: .44 . Question 4 .0 out of 5 points A fair coin is tossed 10 times. What is the probability that a tail will be observed at least 4 times? Round your answer to four places after the decimal.
Answer
Selected Answer: .5006 . Question 5 .5 out of 5 points An automotive center keeps tracks of customer complaints received each week. The probability distribution for complaints can be represented as a table or a graph, both shown below. The random variable xi represents the number of complaints, and p(xi) is the probability of receiving xi complaints.
xi 0 1 2 3 4 5 6 p(xi) .15 .1 .28 .20 .10 .10 .07
What is the expected number of complaints received per week? Round your answer to two places after the decimal.
Answer
Selected Answer: 2.58 . Question 6 .5 out of 5 points Deterministic techniques assume that no uncertainty exists in model parameters. Answer
Selected Answer: True . Question 7 .5 out of 5 points Excel can be used to simulate systems that are