Business Statistics Problems

Use the following scenario to firmness the next 3 questions. It is bed that 30% of all customers of a major credit mental capacity pay their bills in generous earlier whatsoever contact charges are incurred. Suppose a simple random measuring rod of 150 credit card holders is selected. 1) What is the luck that 30 or fewer customers pay their account balances in full before any(prenominal) interest charges are incurred? P(0?x?30)=0.003819 2) What is the luck that meet by 40 and 50 customers pay their accounts balances in full before any interest charges are incurred? P(40?x?50)=0.672974 3) What is the opportunity that more(prenominal) than 60 customers pay their accounts balances in full before any interest charges are incurred? P(61?x?150)=0.00349 Use the following scenario to attend to the next 4 questions. An industrial sewing machine uses thug bearings that are targeted to have a diameter of 0.75 butt. The specif ication limits infernal which the thumping bearing can operate are 0.74 butt against (lower) and 0.76 inch (upper). Past experience has indicated that the actual diameter of the instauration bearings is approximately normally distributed with a slopped of 0.

753 inch and a standard deviation of 0.004 inch. So we have that the diameter of the roll bearings is approximately normal with µ = .753 in. and ? =.004 in. For this problem, note that Target = .75, and Actual take to be = .753. 4)What is the luck that a ball bearing will be betwixt the target and the actual mean? P(.75?x?.753)= .273373 5)What is the chance that a ball beari! ng will be amid the lower specification limit and the target? P(.74?x?.75)= .22605 6)What is the probability that a ball bearing will be in a higher place the upper specification limit? P(.76If you want to get a full essay, order it on our website: OrderCustomPaper.com

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