## 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

Donât 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

is a non-smoker. Round your answer to three decimal places.(5 points)

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 Samâs 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)

Interpret the meaning of your answer to part b.(6 points)

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