 Do at least three practice exams  This will help you determine if there are any concepts you’re struggling with  Memorize ALL the pdfs, the exponential.

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Presentation transcript:

 Do at least three practice exams  This will help you determine if there are any concepts you’re struggling with  Memorize ALL the pdfs, the exponential CDF, and as many MGFs as you can  Flash cards are great for this  Relax and don’t panic!  You can test again in July or September

A survey of a group’s viewing habits over the last year revealed the following information: - 28% watched gymnastics - 29% watched baseball - 19% watched soccer - 14% watched gymnastics & baseball - 12% watched baseball & soccer - 10% watched gymnastics & soccer - 8% watched all three sports Calculate the percentage of the group that watched none of the three sports during the last year.

A blood test indicates the presence of a particular disease 95% of the time when the disease is actually present. The same test indicates the presence of the disease.5% of the time when the disease is not present. One percent of the population actually has the disease. Calculate the probability that a person has the disease given the test indicates the presence of the disease.

A car dealership sells 0, 1, or 2 luxury cars on any day. When selling a car, the dealer also tries to persuade the customer to buy an extended warranty for the car. Let X denote the number of luxury cars sold in a given day, and let Y denote the number of extended warranties sold. What is the variance of X?

A piece of equipment is being insured against early failure. The time from purchase until failure of the equipment is exponentially distributed with mean 10 years. The insurance will pay an amount x if the equipment fails during the first year, and it will pay.5x if failure occurs during the second or third year. If failure occurs after the first three years, no payment will be made. At what level must x be set if the expected payment made under this insurance is to be 1000?