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Answer on Quantitative Methods Question for sameehah

Question #37439
The bulbs manufactured by a company gave a mean life of 3000 hours with standard
deviation of 400 hours. If a bulb is selected at random, what is the probability it will
have a mean life less than 2000 hours?
Question:
1) Calculate the probability.
2) In what situation does one need probability theory?
3) Define the concept of sample space, sample points and events in context of
probability theory.
4) What is the difference between objective and subjective probability?
Expert's answer
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Comments

Assignment Expert
09.05.2014 08:04

Dear Dinesh
If you have other questions, please post them as a new question.
Thank you.

dinesh
08.05.2014 09:29

Mr Sehwag invests Rs 2000 every year with a company, which pays interest at 10% p.a.
He allows his deposit to accumulate at C.I. Find the amount to the credit of the person
at the end of 5th year.

dinesh
08.05.2014 09:29

The price P per unit at which a company can sell all that it produces is given by the
function P(x) = 300 — 4x. The cost function is c(x) = 500 + 28x where x is the number
of units produced. Find x so that the profit is maximum.

dinesh
08.05.2014 09:27

In what situation does one need probability theory?

dinesh
08.05.2014 09:26

The bulbs manufactured by a company gave a mean life of 3000 hours with standard
deviation of 400 hours. If a bulb is selected at random, what is the probability it will
have a mean life less than 2000 hours?

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