Академический Документы
Профессиональный Документы
Культура Документы
Page 1
Problem 1 (15 points)
Approximately 30% of the calls to an airline reservation phone line result in a reservation being made.
a. Suppose that an operator handles 10 calls. What is the probability that none of the 10 calls result in a
reservation?
b. What assumption did you make to calculate the probability in part a?
c. What is the probability that at least one call results in a reservation being made?
Consider a game in which a red die and a blue die are rolled. Let xR denote the value showing on the red die
and define xB similarly for the blue die.
a. Find the probability distribution of xR , then use it to determine the mean, variance, and standard
deviation of xR .
b. What are the values of the mean, variance, and standard deviation of xB ?
c. Suppose that you are offered to play two games:
Game 1: Costs $7 to play, and you win y1 dollars, where y1 = xR + xB
Game 2: Does not cost anything to play initially, but you “win” 3y2 dollars, where y2 = xR - xB . If
y2 is negative, you must pay that amount; if it is positive, you receive that amount.
Find the ‘earnings variables’ e1 and e2 for each game.
d. What are the means and standard deviations of e1 and e2 ?
e. Based on your answers to part d), which game would you play and why?
A multiple-choice exam consists of 50 questions. Each question has five choices, of which only one is
correct. Suppose that the total score on the exam is computed as y = x1 - 1 4 x2 where x1 = number of correct
responses and x2 = number of incorrect responses. (This transformation is known as the correction of
guessing)
a. It can be shown that if a totally unprepared student answers all 50 questions just by selecting one of
the five answers at random, then m x1 = 10 and m x2 = 40 . What is the mean value of the total score
y ? Does this surprise you? Why?
b. Describe how you would determine the variance and standard deviation of y or explain why it is
impossible to determine.