What is the chance that a family owns more than one car?

INSTRUCTIONS TO CANDIDATES

ANSWER ALL QUESTIONS

QuestIon 1 (4 marks)

Suppose X = the number of cars owned by a family in South Africa. The probability distribution ofXis shown in the table below. 0 1 213] Probability 0.56 0.23 0.121 0.09

(a) What is the chance that a family owns more than one car?

(b) Suppose you choose two families t random. What is the chance that  they each own one car? (That is family A owns a car and family B owns a car)

Question 2 (8 marks)

A construction company has submitted bids on two separate Provincial contracts, A and B. The company feels that it has a 60% chance of winning

contract 4 and a 50% chance of winning contract B. Furthermore, the company believes that it has an 80% chance of winning contract A if it wins

contract B.

(a) What is the probability that the company will win both contracts?

(b) What is the probability that.ie company will win at least one of the two contracts?

(e) If the company wins contract B, what is the probability that it will not win contract A?  

(d) What is the probability that the company will win neither contract?

Question 3 (7 marks)

The monthly sales at a bookstore have a mean of R50 000 and a standard deviation of R6000. Profits are calculated by multiplying sales by 40% and

subtracting fixed costs of R12 000. Find the mean and standard deviation of monthly profits. What assumptions have you made before proceeding to

tackle the question?

QuestIon 4 (7 marks)

A bank has determined that the monthly balances of the saving accounts of its customers are normally distributed with an average balance of R 1200 and a standard deviation of R250.

(a) What proportion of customers have monthly balances less than Rl000?

(b) What proportion of customers have monthly balances more than R1125?

(c) What proportion of customers have möntlïly balances between R950 and R1075?

Attachments:

Related Questions

. The fundamental operations of create, read, update, and delete (CRUD) in either Python or Java

CS 340 Milestone One Guidelines and Rubric  Overview: For this assignment, you will implement the fundamental operations of create, read, update,

. Develop a program to emulate a purchase transaction at a retail store. This  program will have two classes, a LineItem class and a Transaction class

Retail Transaction Programming Project  Project Requirements:  Develop a program to emulate a purchase transaction at a retail store. This

. The following program contains five errors. Identify the errors and fix them

7COM1028   Secure Systems Programming   Referral Coursework: Secure

. Accepts the following from a user: Item Name Item Quantity Item Price Allows the user to create a file to store the sales receipt contents

Create a GUI program that:Accepts the following from a user:Item NameItem QuantityItem PriceAllows the user to create a file to store the sales receip

. The final project will encompass developing a web service using a software stack and implementing an industry-standard interface. Regardless of whether you choose to pursue application development goals as a pure developer or as a software engineer

CS 340 Final Project Guidelines and Rubric  Overview The final project will encompass developing a web service using a software stack and impleme