Microeconomics

headland #1 a) The variable of interest is the shape of pay-checks that were count wrongly. b) Given the following data; the make out of trials (350) and the opportunity of achievement (0.005), we can calculate the probability of failure (0.995). and so the permit distribution bequeath be the Binomial mass 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 neediness to get a full essay, order it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper