3:24 PM ...oo T-Mobile edugen wileyplus.com BUSINESSSTATISTICS End of Section Pr

Question

3:24 PM ...oo T-Mobile edugen wileyplus.com BUSINESSSTATISTICS End of Section Problem 5.12 The Wall Street Journal reported some interesting statistics on the job market. One statistic is that 40% of all workers say they would change jobs for "sightly higher pay. In addition, 88% of companies say that there is shortage of qualified job candidates. Suppose 16 workers are randomly selected and asked if they would change jobs for 'slightly higher pay. *(Round your answer to 3 decimal places when calculating using TableA2) (Round your answer to 4 decimal places.) a. What is the probability that nine or more say yes? b. What is the probability that three, four, five, or six say yes? c. If 13 companies are contacted, what is the probability that exactly 10 say there is a shortage of qualified d. If 13 contacted, what is the probability that all of the companies say there is a shortage of companies are qualified job candidates If 13 companies are contacted, what is the expected number of companies that would say there is a shortage of qualified job candidates? All Rights Reserved Division of 2ahnMilexASons.1nc.

Explanation / Answer

p - prob of worker that he would change the job = 0.4 follows binomial distribution

a) n - 16, x -9

prob atleast 9 will say that will change the job = P (X>=9) = 1 - P(X<=9) = 1 - 0.942 = 0.058

Using the binomial probability tables, we can calculate P for n, x and p values

b) P(x=3) + P (x=4) + P (x=5) = P (x<5) - P (x<2) = 0.329 - 0.065 = 0.264

c) let p - company saying they have shortage of qualified candiates, i.e 0.88

n = 13

P (x=10) = 13 c 10 0.88^10 0.12^3 = 0.1376

d) P (x = 13) = 0.88^13 = 0.1898

e) E (X) = np = 13*0.88 = 11.44

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