FARE 3310 Lecture Notes - Lecture 10: Normal Distribution, Standard Deviation
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24 Oct 2014
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The following table shows the probability distribution of the number of days (x) to complete a certain type of construction project by a contractor. | |||||||||
x | f(x) | ||||||||
1 | 0.05 | ||||||||
2 | 0.20 | ||||||||
3 | 0.35 | ||||||||
4 | 0.30 | ||||||||
5 | 0.10 | ||||||||
3 | The probability that it will take less than 3 days to complete a randomly selected project is ______. | ||||||||
a | 0.60 | ||||||||
b | 0.45 | ||||||||
c | 0.35 | ||||||||
d | 0.25 | ||||||||
4 | The standard deviation of the days to complete a project is _______. (Rounded to 2 decimal points.) | ||||||||
a | 1.03 | ||||||||
b | 1.24 | ||||||||
c | 1.35 | ||||||||
d | 1.41 | ||||||||
5 | The contractor's project cost is made up of a fixed cost of $20,000, plus $2,000 for each day taken to complete the project. Expected value of total project cost is. | ||||||||
a | $25,300 | ||||||||
b | $26,400 | ||||||||
c | $27,500 | ||||||||
d | $28,600 | ||||||||
6 | In the previous question the standard deviation of total project cost is: | ||||||||
a | $22,060 | ||||||||
b | $22,828 | ||||||||
c | $2,060 | ||||||||
d | $2,828 | ||||||||
7 | If you toss a balanced coin 20 times, the probability of getting 10 tails is: f(x = 10) = _______. | ||||||||
a | 0.5000 | ||||||||
b | 0.2461 | ||||||||
c | 0.1762 | ||||||||
d | 0.1026 | ||||||||