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## Statistics- In 2008 the stock market crashed. During this time

Show
your work or explain how you arrived at your conclusion whenever appropriate.

1. In 2008 the stock
market crashed. During this time, a survey of adult investors were asked how
often they tracked their portfolio. The table below shows the investors
responses. Find the probability that an adult investor does not track his
or her own portfolio.(8 points)

How
frequently?

Response

Daily

240

Weekly

283

Monthly

280

Couple of times a year

141

Donât Track

49

2. The table lists the
smoking habits of a group of college students.(20 points)

Gender

Non-smoker

Regular
Smoker

Heavy
Smoker

Total

Male

130

46

5

181

Female

185

20

4

209

Total

315

66

9

390

a)
If a student is chosen at random, find the probability of getting someone who

b)
If a student is chosen at random, find the probability of getting someone who
is a regular or heavy smoker. Round your answer to three decimal places.(5 points)

c)
If a student is chosen at random, find the probability of getting someone who
is a female or a non-smoker. Round your answer to three decimal places.(5 points)

d)
If a student is chosen at random, find the probability of getting someone who
is a male or female. Round your answer to three decimal places.(5 points)

3. A golden retriever has three puppies in a
litter. The random variableXrepresents the number of female
puppies born in the litter. Construct the probability distribution for the
random variableXin the table below.(8 points)

X

P(X)

4. The manager of Samâs Food Mart guarantees that none of
his cartons containing a dozen eggs will contain more than one bad egg,
despite the fact that 2% of individual eggs are known to be bad. Define
the random variablexto be the number
of bad eggs observed in a carton containing 12 eggs.(22 points)

a) Explain why this experiment
can be classified as a binomial experiment. Give twospecificreasons.(6 points)

b) Find the probability that a
randomly selected carton will contain no bad eggs.
(8 points)
c)
If a carton contains more than one bad egg, the manager will replace the entire
dozen and allow the customer to keep the original eggs. Find the
probability that the manager will have to replace a randomly selected carton of
eggs. (8 points)

5.
At Express Delivery Service, providing high-quality service to its customers is
the top priority of management. The company guarantees a refund of charges
if a package it is delivering does not arrive to its destination on
time. Despite all efforts, 94% of the packages mailed through the
company arrive at their destinations on time. A Corporation mailed seven
packages through Express Delivery on Monday.(22 points)

a) Find the probability that all of the seven packages
will arrive on time.(8 points)

b) Find the probability that exactly two of these seven
packages willnotarrive
on time.(8 point

c)

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