1) India is the second most populous country in the world, with a population of
ID: 3238768 • Letter: 1
Question
1)
India is the second most populous country in the world, with a population of over 1 billion people. Although the government has offered various incentives for population control, some argue that the birth rate, especially in rural India, is still too high to be sustainable. A demographer assumes the following probability distribution of the household size in India.
What is the probability that there are less than 5 members in a household in India? (Round your answer to 2 decimal places.)
What is the probability that there are 5 or more members in a household in India? (Round your answer to 2 decimal places.)
What is the probability that the number of members in a household in India is strictly between 2 and 5? (Round your answer to 2 decimal places.)
:
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2)
Investment advisors recommend risk reduction through international diversification. International investing allows you to take advantage of the potential for growth in foreign economies, particularly in emerging markets. Janice Wong is considering investment in either Europe or Asia. She has studied these markets and believes that both markets will be influenced by the U.S. economy, which has a 21% chance for being good, a 52% chance for being fair, and a 27% chance for being poor. Probability distributions of the returns for these markets are given in the accompanying table.
Find the expected value and the standard deviation of returns in Europe and Asia. (Round intermediate calculations to 4 decimal places and final answers to 2 decimal places.)
1)
India is the second most populous country in the world, with a population of over 1 billion people. Although the government has offered various incentives for population control, some argue that the birth rate, especially in rural India, is still too high to be sustainable. A demographer assumes the following probability distribution of the household size in India.
Explanation / Answer
a)
p(x<5) = 0.03+0.09+0.17+0.21
=0.5
b)
p(x>=5) = 0.21+0.16+0.09+0.04
=0.5
c)
p(2<x<5) = 0.17+0.21
=0.38
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