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ECON221  Assignment Solution 3
$ 8.00

I need help with these two questions for my econ221  assignment. 

 

 

 

  • (12 points) Delays plague the airport in Flin Flon, Manitoba.  The probability distribution for the number of delays on any given day is as follows:

 

Number of delays

0

1

2

3

4

Probability

0.10

0.26

0.42

0.16

0.06

 

 

  • (2 points) Calculate the cumulative probability distribution.

 

Number of delays

0

1

2

3

4

Cumulative probability

 

 

 

 

 

 

 

 

 

  • (2 points) Calculate the probability that no more than three flights are delayed on any given day.

 

 

 

 

 

 

 

  • (2 points) Calculate the expected number of delayed flights on any given day.

 

 

 

 

 

 

 

 

 

 

 

  • (2 points) Calculate the standard deviation of delayed flights on any given day.

 

 

 

 

 

 

 

 

 

 

 

Each delay costs the airport $1500.

 

  • (2 points) Calculate the expected cost of delayed flights on any given day.

 

 

 

 

 

 

 

 

 

 

 

  • (2 points) Calculate the variance of the cost of delayed flights on any given day.

 

 

 

 

 

 

 

(8 points) In US football, a team that scores a touchdown must decide whether to try to get one or two bonus points. If it succeeds, it receives the number of bonus points that it attempted to get; if it fails, it gets nothing. One coach believes that the probability of succeeding on a two-point bonus play is 35 percent and that each attempt is an independent event. In one particular game, the coach’s team attempted the two-point bonus play four times.

 

(2 points) Calculate the probability that at least two of these attempts were successful.

 

 

 

 

 

 

 

 

 

(2 points) Calculate the expected total number of points resulting from the four attempts.

 

 

 

 

 

 

 

 

 

(2 points) Calculate the standard deviation of the total number of points resulting from the four attempts.

 

 

 

 

 

 

 

 

 

(2 points) If the coach were to try the easier one-point bonus play all four times, calculate the required success rate to achieve the same expected outcome obtained in part (b).

 

 

 

 

 

 

(4 points) Sheep escape Michelle’s farm according to a Poisson distribution at an average of three per week.

 

(2 points) Calculate the probability that more than one sheep escapes in any given week.

 

 

 

 

 

 

 

 

 

 

(2 points) Michelle can be 99-percent certain that no more than this many sheep escape in any given week.

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