Microeconomics

interrogative sentence #1 a) The variable of interest is the topic of pay-checks that were cut into wrongly. b) Given the following data; the frame of trials (350) and the probability of achievement (0.005), we can calculate the probability of failure (0.995). whence the permit distribution bequeath be the Binomial dowry Distribution. The parameters argon:- ? n = 350 ? P = 0.005 ? Q = 0.995 c) allow the r.v. be the number of pay-checks that were work out incorrectly X ( BIN (n, p) X ( BIN (350, 0.005) conventionalismP ( X = x ) = nCX px qn x P ( X = 1 ) = 350C1 (0.005)1 (0.995)349 = (350) (0.005) (0.174) = 0.3045 The probability of finding one paycheck that was calculated incorrectly is 0.3045. d) Expectation of X is E(X) = np E(X) = (350) (0.005) E(X) = 1.75 In a inclined month, 1.75 employees payroll would be calculated incorrectly. QUESTION #2 Using the Poisson Probability distribution: Let X be the r.v. No. of major hurricanes to hit the U.S.A. ? = 0.6 X ( Po (?) X ( Po (0.6) decreeP(X = x) = e ? ?x X !

P ( X > 1 ) = 1 P(X ? 1 ) = 1 P(X = 0) + P(X = 1) P(X = 0) = e 0.6 (0.6)0 = e 0.6 0 ! P(X = 1) = e 0.6 (0.6)1 = 0.6 e 0.6 ! 1 ! P(X > 1) = 1 e 0.6 + 0.6 e 0.6 = 1 0.549 + 0.329 = 1 0.878 = 0.122 The probability that to a greater extent than one major hurricane will strike the USA is 0.122 in that given year. QUESTION #3 Let the r.v. be the number of hours per week adults spend on household computers: X ( N ((,(2) X ( N (8, 12) FormulaP = X - ( ( P ( 5.5 < X < 9.5 )...If you take to get a full essay, order it on our website: BestEssayCheap.com

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