HA1011 Tutorial Questions On Applied Quantitative Methods - Assignment 2

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Week 9 – Question 3 (10 marks)

a. Briefly discuss following 3 probability distributions

  1. Uniform probability distribution
  2. Normal probability distribution
  3. Exponential probability distribution

(3 marks)

b. The amount of time that bankers devote to their job per week is normally distributed, with a mean of 52 hours and a standard deviation of 6 hours.

  1. What is the probability that a banker works for more than 60 hours per week?
  2. Find the probability that the mean amount of work per week for 3 randomly selected bankers is more than 60 hours
  3. Find the probability that if three bankers are randomly selected, all three work for more than 60 hours per week

(7 marks)

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