Microeconomics

straits #1 a) The variable of interest is the government issue of pay-checks that were mensurable wrongly. b) Given the following data; the egress of trials (350) and the prospect of achievement (0.005), we can calculate the probability of failure (0.995). then the permit distribution bequeath be the Binomial great deal 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 more 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 necessity to get a full essay, order it on our website: BestEssayCheap.com

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