1) An oil change shop advertised to change oil within 20 minutes. Based on the data collected on five days of work, what is the probability that oil change will take less than 20 minutes? Based on the data, do you think the business claim is valid? Explain why or why not. If not, what advertising claim could you make based upon these results?
Class | Interval | Frequency
6 | up to 10 minutes | 24
10 | up to 15 minutes | 111
15 | up to 20 minutes | 405
20 | up to 25 minutes | 36
25 | or more minutes | 24
Note: The use of “up to” is a technique of avoiding overlap in class intervals or categories. So, a time of ten minutes would be placed in the second class interval (10 up to 15 minutes) rather than the first interval.
2) Here is an application. From a review of the literature, I find that the mean number of widgets produced in an eight hour shift is 170 with a standard deviation of 14 minutes. What is your chance of your factory producing more than 180 widgets in a shift? You would use the z score formula, so 180-170/14. Z would equal .71. Using the standard normal table, I find the probability that associated with z = .71 is .2611. Thus, the chance of producing more than 180 widgets in a shift is .2389, or .5 – .2611. (Using a cumulative standard normal table, I would find the p for z = .71, which is .7611. I would then use the complement, or 1-.7611 to find the probability of .2389). So, you have about a 24% chance.
What would be my probability of producing less than 160 widgets in a shift?
3) In each of the following cases, indicate whether classical, empirical, or subjective probability is used.
a. A baseball player gets a hit in 30 out of 100 times at bat. The probability is .3 that he gets a hit in his next at bat.
b. A seven-member committee of students is formed to study environmental issues. What is the likelihood that any one of the seven is chosen as the spokesperson?
c. You purchase one of 25 million tickets sold for MegaMillions. What is the likelihood you will win the jackpot?
d. The probability of an earthquake in northern California in the next 10 years above 5.0 on the Richter Scale is .80.
4) At my workplace, probability is the essential tool the inventory personnel applies in handling inventory. The first thing we do is collect the data and then we evaluate it. By thoroughly evaluating the data, allows us to figure out what products are possibly needed at once. Although we have a profound method in place, considering organizational changes and the market, we cannot always assume that the method is going to continuously work over a long period of time. We have to go back and collect additional data and evaluate it to determine if the plan of action is benefiting the company. If it is not effective, then we have to figure out why and come up with new methods that will better suit the present needs of the company. Also, the inventory personnel can use probability to a certain extent to estimate how specific adjustments to the plan may affect the company’s profit.
What approach to probability is this example?
) The three approaches to assigning probabilities are: classical, relative frequency, and subjective.
What are the differences in these three approaches? Could you explain each, and provide an example?
Our Service Charter
-
Excellent Quality / 100% Plagiarism-Free
We employ a number of measures to ensure top quality essays. The papers go through a system of quality control prior to delivery. We run plagiarism checks on each paper to ensure that they will be 100% plagiarism-free. So, only clean copies hit customers’ emails. We also never resell the papers completed by our writers. So, once it is checked using a plagiarism checker, the paper will be unique. Speaking of the academic writing standards, we will stick to the assignment brief given by the customer and assign the perfect writer. By saying “the perfect writer” we mean the one having an academic degree in the customer’s study field and positive feedback from other customers. -
Free Revisions
We keep the quality bar of all papers high. But in case you need some extra brilliance to the paper, here’s what to do. First of all, you can choose a top writer. It means that we will assign an expert with a degree in your subject. And secondly, you can rely on our editing services. Our editors will revise your papers, checking whether or not they comply with high standards of academic writing. In addition, editing entails adjusting content if it’s off the topic, adding more sources, refining the language style, and making sure the referencing style is followed. -
Confidentiality / 100% No Disclosure
We make sure that clients’ personal data remains confidential and is not exploited for any purposes beyond those related to our services. We only ask you to provide us with the information that is required to produce the paper according to your writing needs. Please note that the payment info is protected as well. Feel free to refer to the support team for more information about our payment methods. The fact that you used our service is kept secret due to the advanced security standards. So, you can be sure that no one will find out that you got a paper from our writing service. -
Money Back Guarantee
If the writer doesn’t address all the questions on your assignment brief or the delivered paper appears to be off the topic, you can ask for a refund. Or, if it is applicable, you can opt in for free revision within 14-30 days, depending on your paper’s length. The revision or refund request should be sent within 14 days after delivery. The customer gets 100% money-back in case they haven't downloaded the paper. All approved refunds will be returned to the customer’s credit card or Bonus Balance in a form of store credit. Take a note that we will send an extra compensation if the customers goes with a store credit. -
24/7 Customer Support
We have a support team working 24/7 ready to give your issue concerning the order their immediate attention. If you have any questions about the ordering process, communication with the writer, payment options, feel free to join live chat. Be sure to get a fast response. They can also give you the exact price quote, taking into account the timing, desired academic level of the paper, and the number of pages.