According to the “January theory,” if the stock market is up for the month of January, it will be up for the year. If it is down in January, it will be down for the year. According to an article in The Wall Street Journal, this theory held for 25 out of the last 34 years. Suppose there is no truth to this theory; that is, the probability it is either up or down is 0.5.
What is the probability this could occur by chance? (Round your answer to 6 decimal places.)
5.
Customers experiencing technical difficulty with their internet cable hookup may call an 800 number for technical support. It takes the technician between 30 seconds and 12 minutes to resolve the problem. The distribution of this support time follows the uniform distribution.
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Get Help Now!a. What are the values for a and b in minutes? (Do not round your intermediate calculations. Round your answers to 1 decimal place.)
a
b
b-1. What is the mean time to resolve the problem? (Do not round your intermediate calculations. Round your answer to 2 decimal places.)
Mean
b-2. What is the standard deviation of the time? (Do not round your intermediate calculations. Round your answer to 2 decimal places.)
Standard deviation
c. What percent of the problems take more than 5 minutes to resolve? (Do not round your intermediate calculations. Round your answer to 2 decimal places.)
Percent %
d. Suppose we wish to find the middle 50% of the problem-solving times. What are the end points of these two times? (Do not round your intermediate calculations. Round your answers to 3 decimal places.)
End point 1
End point 2
5.
A normal population has a mean of 20 and a standard deviation of 5.
a. Compute the z value associated with 24. (Round your answer to 2 decimal places.)
Z
b. What proportion of the population is between 20 and 24? (Round z-score computation to 2 decimal places and your final answer to 4 decimal places.)
Proportion
c. What proportion of the population is less than 18? (Round z-score computation to 2 decimal places and your final answer to 4 decimal places.)
Proportion
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