1.value:10.00 pointsIt is claimed that Proactine a new medicine for acne is 75 percent effective. It is applied to the affected area of a group of 15 people. Calculate the probability for the following (Round your answers to 3 decimal places):(a)All 15 will show significant improvementProbability(b)Fewer than 9 of 15 will show significant improvementProbability(c)That 12 or more people will show significant improvementProbability2.value:10.00 pointsA study of the attendance at the University of Alabama’s basketball games revealed that the distribution of attendance is normally distributed with a mean of 9 600 and a standard deviation of 1 800.(a)What is the probability a particular game has an attendance of 13 500 or more? (Round z-score computation to 2 decimal places and your final answer to 4 decimal places.)Probability(b)What percent of the games have an attendance between 8 000 and 11 500? (Round z-score computation to 2 decimal places and your final answer to 4 decimal places.)Probability(c)Ten percent of the games have an attendance of how many or less?Attendance3.value:10.00 pointsThe distribution of the number of school-age children per family in the Whitehall Estates area of Boise Idaho is:Number of children01234Percent of families25304032(a)Determine the mean and standard deviation of the number of school-age children per family in Whitehall Estates. (Round your answers to 2 decimal places.)MeanStandard deviation(b)A new school is planned in Whitehall Estates. An estimate of the number of school-age children is needed. There are 500 family units. How many children would you estimate?ChildrenSome additional information is needed about only the families having children.(c-1)Convert the preceding distribution to one for families with children. (Round your answers to 5 decimal places.)Number ofChildren (X)Probabilitygiven Children P(X)1234(c-2)What is the mean number of children among families that have children? (Round your answer to 2 decimal places.)Mean4.value:10.00 pointsFirst National Bank thoroughly investigates its applicants for small home-improvement loans. Its default record is very impressive: The probability that a homeowner will default is only .005. The bank has approved 400 small home-improvement loans. Assuming the Poisson probability distribution applies to this problem:(a)What is the probability that no homeowners out of the 400 will default? (Round your answer to 4 decimal places.)Probability(b)How many of the 400 are expected not to default?Expected value(c)What is the probability that 3 or more homeowners will default on their small home-improvement loans?(Round your answer to 4 decimal places.)Probability5.value:10.00 pointsDaniel-James Insurance Company will insure an offshore Mobil Oil production platform against weather losses for one year. The president of Daniel-James estimates the following losses for that platform (in millions of dollars) with the accompanying probabilities:Amount of Loss($ millions)Probabilityof Loss0.9840.016300.004.mcgraw-hill.com/sites/dl/free/0073401803/887798/Review_4_e15.xls”> Click here for the Excel Data File(a)What is the expected amount Daniel-James will have to pay to Mobil in claims? (Enter your answer in millions to 2 decimal places. Omit the “$” sign in your response.)Expected amount$ million(b)What is the likelihood that Daniel-James will actually lose less than the expected amount? (Round your answer to 2 decimal places.)Probability(c)Given that Daniel-James suffers a loss what is the likelihood that it is for $300 million? (Round your answer to 2 decimal places.)Probability(d)Daniel-James has set the annual premium at $2.0 million. Does that seem like a fair premium? Will it cover its risk? (Click to select)YesNo6.value:10.00 pointsThe manager of Tee Shirt Emporium reports that the mean number of shirts sold per week is 1 170 with a standard deviation of 315. The distribution of sales follows the normal distribution.What is the likelihood of selecting a sample of 25 weeks and finding the sample mean to be 1 100 or less?(Round z value to 2 decimal places and final answer to 4 decimal places.)Probability7.value:10.00 pointsThe manager of Tee Shirt Emporium reports that the mean number of shirts sold per week is 1 210 with a standard deviation of 325. The distribution of sales follows the normal distribution.What is the likelihood of selecting a sample of 25 weeks and finding the sample mean to be 1 100 or less?(Round z value to 2 decimal places and final answer to 4 decimal places.)Probability
