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A general contracting firm experiences cost overruns on

Statistics for Engineers and Scientists | 4th Edition | ISBN: 9780073401331 | Authors: William Navidi ISBN: 9780073401331 38

Solution for problem 8E Chapter 4.2

Statistics for Engineers and Scientists | 4th Edition

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Statistics for Engineers and Scientists | 4th Edition | ISBN: 9780073401331 | Authors: William Navidi

Statistics for Engineers and Scientists | 4th Edition

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Problem 8E

A general contracting firm experiences cost overruns on 20% of its contracts. In a company audit, 20 contracts are sampled at random.

a. What is the probability that exactly four of them experience cost overruns?

b. What is the probability that fewer than three of them experience cost overruns?

c. What is the probability that none of them experience cost overruns?

d. Find the mean number that experience cost overruns.

e. Find the standard deviation of the number that experience cost overruns.

Step-by-Step Solution:

Answer :

Step 1 of 6 :

Given, in a sample of 20 contracts, general contracting cost overruns on 20% of its contracts.

Let X follows binomial distribution with probability mass function is

P(x: n,p) =  (1 - p , x = 0, 1, 2, ….., n.

Where,

n = sample size

   = 20

x = random variable

p = probability of success

   = 20%

   =  0.20

q = 1 - p (probability of failure)

Mean of the binomial distribution is

   = np

Variance of the binomial distribution is

   = npq


Step 2 of 6

Chapter 4.2, Problem 8E is Solved
Step 3 of 6

Textbook: Statistics for Engineers and Scientists
Edition: 4
Author: William Navidi
ISBN: 9780073401331

The full step-by-step solution to problem: 8E from chapter: 4.2 was answered by , our top Statistics solution expert on 06/28/17, 11:15AM. This full solution covers the following key subjects: cost, overruns, experience, Probability, contracts. This expansive textbook survival guide covers 153 chapters, and 2440 solutions. Statistics for Engineers and Scientists was written by and is associated to the ISBN: 9780073401331. The answer to “?A general contracting firm experiences cost overruns on 20% of its contracts. In a company audit, 20 contracts are sampled at random.a. What is the probability that exactly four of them experience cost overruns?b. What is the probability that fewer than three of them experience cost overruns?c. What is the probability that none of them experience cost overruns?d. Find the mean number that experience cost overruns.e. Find the standard deviation of the number that experience cost overruns.” is broken down into a number of easy to follow steps, and 77 words. Since the solution to 8E from 4.2 chapter was answered, more than 4497 students have viewed the full step-by-step answer. This textbook survival guide was created for the textbook: Statistics for Engineers and Scientists , edition: 4.

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