assignment three × Chegg Study l Guided Solut × Assignment Three A Survey × Assu
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assignment three × Chegg Study l Guided Solut × Assignment Three A Survey × Assume The Random variab x D probabilityreview answers p × Hol c secure https://www.webassign.net/web/Student/Assignment-Responses/submit?dep#17159458 5. 0/1 points | Previous Answers MendStat14 4.E.096. My Notes Ask Your Teacher The maximum patent life for a new drug is 17 years. Subtracting the length of time required by the FDA for testing and approval of the drug provides the actual patent life of the drug-that is, the length of time that a company has to recover research and development costs and make a profit. Suppose the distribution of the lengths of patent life for new drugs is as shown here. Years, x 3 4 6 10 11 12 13 p(x) 0.03 0.05 0.07 0.10 0.14 0.19 0.19 0.12 0.07 0.03 0.01 (a) Find the expected number of years of patent life for a new drug. (Enter your answer to two decimal places.) 0.03 x yr (b) Find the standard deviation of x. (Round your answer to four decimal places.) 1.1970 X y (c) Find the probability that x falls into the interval ± 2o. (Enter your answer to two decimal places.) -0.197 Need Help? Read ItTalk to Tutor RTak to a Tutr Submit Assignment Save Assignment Progress Home My Assignments Extension Request WobAssign 4.01997-2017 Advanced Instructional Systoms,Inc. All rights resarvedExplanation / Answer
(a) Expected number of years
= xf(x)
= 3*0.03 + 4*0.05 + 5*0.07 + 6*0.10 + 7*0.14 + 8*0.19 + 9*0.19 + 10*0.12 + 11*0.07 + 12*0.03 + 13*0.01
= 7.91.
(b) Variance = x2f(x) - 2
= 9*0.03 + 16*0.05 + 25*0.07 + 36*0.10 + 49*0.14 + 64*0.19 + 81*0.19 + 100*0.12 + 121*0.07 + 144*0.03 + 169*0.01 - 7.912
= 4.7419
Standard deviation = 4.7419 = 2.1776.
(c) x = + Z
If x = + 2, Z = 2
If x = - 2, Z = -2
Probabilities for 2 and -2 from Z table are:
and 0.9772 and 0.0228.
Probability that x falls between the intervale = 0.9772 - 0.0228 = 0.9544.
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