I am trying to keep track of how much gasoline (rounded to the nearest integer and denoted by ) my car uses every week. I have managed to find the CDF of :
Assume gasoline costs $3 a gallon. Let denote the amount of money I spend on gasoline every week. What is the PMF of ?
Suppose a real number is chosen randomly in the unit interval . Consider the decimal expansion of this number. Let be a random variable giving the first digit after the decimal point. Find the possible values, the PMF, and the CDF of .
Solution
10
(1) Find the possible values of .
After the decimal point, any of the 10 digits can appear, so .
(2) Find the PMF of .
Each digit has a chance of appearing. So, the PMF of is
(3) Find the CDF of .
The CDF of is given as follows.
(4)
Listing out the individual cumulative probabilities for each is also acceptable.
The odds of the Winning Fund outperforming the market in a random year are 15%. The odds that it outperforms the market in a 1-year period assuming it has done so in the prior year are 30%.
What is the probability of the Winning Fund outperforming the market in 2 consecutive years?
Solution
02
(1) Define events.
Let be the event where the Winning Fund outperforms the first year.
Let be the event where the Winning Fund outperforms the second year.
A hiring manager will randomly select two people from a group of 5 applicants. Of the 5 applicants, 2 are more qualified and 3 are less qualified (but the manager does not know this).
If at least one of the less qualified applicants is selected, what is the probability that both applicants selected will be less qualified?
Solution
02
Label the two ‘more qualified’ as A, B, and the three ‘less qualified’ as C, D, E.
9 options have at least one less qualified. 3 options have both less qualified.
A hiring manager will randomly select two people from a group of 5 applicants. Of the 5 applicants, 2 are more qualified and 3 are less qualified (but the manager does not know this).
Let Event A be selecting 2 more qualified applicants and Event B be selecting 2 less qualified applicants. Determine whether A and B are independent events and justify your answer.