### Random Variables Problem Set

Please provide step by step solution with all work shown for the attached problem sets. It is important to see the steps required to solve the problems so I can understand the process for future problems: (see attachment) 1. A die is loaded so that the probability of any side showing is proportional to the

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### Fault Tree Analysis

Assume the probability of a tire blowout is 0.102% per 50,000 miles of use and that a person travels 13,000 miles per year in a car. Assume that the probability of loss of control is 30% if the blowout occurs on the front tires and 15% for the rear tires. If control is lost, the

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### Normal and Poisson probability

The instructions are typed exactly, word for word, from the text book. I am just as confused as you are, if not more. I wish I could give you more info, but that is all I have. The book is poorly written. The book has not covered Test Statistics yet, therefore that is not needed.

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### Probability

This is a statistics question that I cannot get a handle on, so I would appreciate your help. Please show the work for future reference. Thank you very much. A study of Hub Furniture regarding the payment of invoices reveals the time from billing until payment is received follows the normal distribution. The mean time

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### Base Level Statistics

4. Use the appropriate table of areas to find the specified area under the standard normal curve to find the area that lies between 0 and 3.01 a. 0.9987 b. 0.4987 c. 0.1217 d. 0.5013 5. Find the probability of at least 2 girls in 6 births. Assume that male and female births are equally

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### Probability distribution function

1. When two balanced dice are rolled, 36 equally likely outcomes are possible. Let X denote the smaller of the two numbers. If both dice come up with the same number, then X equals that common value. Find the probability distribution of X. Leave your probability in fraction form. a. x P(X=x) 1 5/18 2

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### Statistics question: Probability problems

1. An investor owns three common stocks. Each stock, independent of the other, has equally likely chances of: (1) increasing in value, (2) decreasing in value, (3) remaining the same value List the possible outcomes of this experiment. Estimate the probability at least two of the stocks increase in value. 2. If you ask three

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### Calculating probabilities

For people with a certain disease, the length of time Y spent in remission is described by the following pdf f(y) = (1/9)y^2, 0<=y<=3 where Y is measured in years. What is the probability that a patient’s remission lasts longer than 1 year?

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### 7 Basic Probability Problems

1. A certain coin has the same probability of landing heads as it does landing tails – but this coin is special, because it also has a 30% chance of landing on its side. a. What is the probability of this coin landing heads? b. What are the odds against this coin landing on its

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### Binomial Option Pricing, Black Scholes Option Pricing

5) Binomial Option Pricing: Suppose we live in a 3 period Black-Scholes world, t=0,1,2 whichidentify as follows. There is a stock with price S(0)= 1 in period 0.In each period , t=1,2, the price can either go up to u. S or down to d.S. Suppose u=1.2 and d=0.9. Suppose that the interest rate is

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