Best writers. Best papers. Let professionals take care of your academic papers

Order a similar paper and get 15% discount on your first order with us
Use the following coupon "FIRST15"
ORDER NOW

DEPARTMENT OF ECONOMICS AND FINANCEEC 207 BUSINESS STATISTICSNAME

DEPARTMENT OF ECONOMICS AND FINANCEEC 207 BUSINESS STATISTICSNAME ________________PROBLEM SET 3PART ONE: PROBLEMS. Please do all parts of all problems. Points areallocated as noted and partial credit is possible provided the work warrants it.1. The Food and Drug Administration randomly tests 1,000 cigarettes of a certainbrand to see whether or not the nicotine content reaches a dangerous level. If 3or more cigarettes contain more nicotine than a pre-specified level, theproduction of cigarettes is suspended. Assume that in this month, 0.3 % of thecigarettes contain more than the pre-specified level.a. What is the probability that the cigarette production will be suspended?(8 pts)b. On average, how many cigarettes in each set of 1000 should exceed the pre-specified level? (4 pts)c. The number of cigarettes that exceed the pre-specified level should fall withinwhat range of values 8/9thof the time? (6 pts)

 
"Looking for a Similar Assignment? Order now and Get 10% Discount! Use Code "Newclient"