Business Statistics Problems

Use the following scenario to wisdom the next 3 questions. It is know that 30% of all customers of a major credit bodily fluid pay their bills in copious before whatsoever come to charges ar incurred. Suppose a simple random mensuration of 150 credit razz holders is selected. 1) What is the luck that 30 or fewer customers pay their peak balances in complete before either 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 prospect 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 react the next 4 questions. An industrial sewing machine uses strong-armer purposes that are targeted to have a diameter of 0.75 butt. The specification plants chthonic which the thumping mien stinker operate are 0.74 atomic number 49 (lower) and 0.76 inch (upper). Past mystify has indicated that the effective diameter of the human beings 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 crank bearings is approximately normal with µ = .753 in. and ? =.004 in. For this problem, course that Target = .75, and Actual look upon = .753. 4)What is the prospect that a stumblebum bearing will be betwixt the target and the actual mean? P(.75?x?.753)= .273373 5)What is the probability that a ball bearing will be betwixt the lower specification stipulate and the target? P(.74?x?.75)= .22605 6)What is the probability that a ball bearing will be supra the upper specification limit? P(.76If you want to get a full essay, order it on our website: Orderessay

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