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Refer to Exercises 3.67 and 3.68. Let Y denote the number
Chapter 3, Problem 186SE(choose chapter or problem)
Problem 186SE
Refer to Exercises 3.67 and 3.68. Let Y denote the number of the trial on which the first applicant with computer training was found. If each interview costs $30, find the expected value and variance of the total cost incurred interviewing candidates until an applicant with advanced computer training is found. Within what limits would you expect the interview costs to fall?
Reference
Suppose that 30%of the applicants for a certain industrial job possess advanced training in computer programming. Applicants are interviewed sequentially and are selected at random from the pool. Find the probability that the first applicant with advanced training in programming is found on the fifth interview.
Refer to Exercise 3.67. What is the expected number of applicants who need to be interviewed in order to find the first one with advanced training?
Questions & Answers
QUESTION:
Problem 186SE
Refer to Exercises 3.67 and 3.68. Let Y denote the number of the trial on which the first applicant with computer training was found. If each interview costs $30, find the expected value and variance of the total cost incurred interviewing candidates until an applicant with advanced computer training is found. Within what limits would you expect the interview costs to fall?
Reference
Suppose that 30%of the applicants for a certain industrial job possess advanced training in computer programming. Applicants are interviewed sequentially and are selected at random from the pool. Find the probability that the first applicant with advanced training in programming is found on the fifth interview.
Refer to Exercise 3.67. What is the expected number of applicants who need to be interviewed in order to find the first one with advanced training?
ANSWER:
Solution:
Step 1 of 3:
It is given that 30% of the applicants for a job possess advanced training in computer programming. The applicants are interviewed sequentially and selected at random.
The cost of one interview is $30.
Let Y be the number of trials in which first applicant with advanced training was found.
We need to find the mean and variance of the total cost incurred in finding the first applicant and also we have to find the limits in which the total cost expected to fall.