Business Mathematics IITeam Homework #4Business Mathematics IITeam Homework #4Math 115b, Sections: 001Instructor: BridgesProjected Due Date: Wed June 27, 2012[See D2L for possible change of date]ByTeam #: _____We, the undersigned, maintain that each of us participated fully and equally in the completion of this assignment and that the work contained herein is original. Furthermore, we acknowledge that sanctions will be imposed jointly if any part of this work is found to violate the Student Code of Conduct, the Code of Academic Integrity, orthe policies and procedures established for this course. ______________________________ ______________________________Name (printed) Signature______________________________ ______________________________Name (printed) Signature______________________________ ______________________________Name (printed) Signature______________________________ ______________________________Name (printed) Signature______________________________ ______________________________Name (printed) Signature11. For this problem, hand in a Flash Drive containing the work in Excel that you have done in class on Project 2. Name this file: Team ___ Project 2.This excel file must include the following :- First worksheet, Assignment (or Strat 1), must contain The original data as you downloaded it from my web page with a column entitled “Winner if signal is bid.” The set of errors, the calculated mean of your errors rounded to the nearest whole number, the standard deviation of your errors to at least 3 decimal places, your maximum error, your minimum error, the range of your errors. The frequency distribution: bins, frequency, relative frequency, adjusted relative frequency, midpoints, and a normal distribution that uses a mean of 0 and a standard deviation equal to the standard deviation of your errors to at least 3 decimal places. A graph of the pdf of your errors along with the normal distribution Note: The bid for Strategy 1 is your Signal.- Second worksheet, Strat 2&3, must contain: Changeable simulation of 10000 auctions (leases) for each of your companies. Columns that calculate the maximum, the second maximum and the difference of these for each auction. The calculations for the Winners’ Curse and for the Winners’ Blessing. The bid for Strategy 2 and the bid for Strategy 3.- Third worksheet, SimuFixed, must contain: Fixed simulation of the 10000 auctions (leases).- The fourth worksheet, Strat-4 (or Adjust-4), must contain all data that we have done in class.Your solutions to problems 2-4 must be typed in a word document, printed, and stapled to the Cover Sheet. You will hand this in to me along with your flash drive on the due date listed on our homepage of D2L. 22. Let Y be a random variable that gives the fraction of American adults who have heard of our company at a randomly selected time during the coming year. An advertising manager suggests that the p.d.f. for Y is given by the formula fY( y )=[−7 . 5 y4+30 y3− 37 . 5 y2+15 y if 0≤ y ≤10 elsewhere(a) Use Integrating.xls to show that the area between the graph of fY( y ) and the horizontal axis on [0, 1] is 1.00. BE SURE TO GIVE THE EQUATION AS ENTERED IN EXCEL, TO SHOW YOUR GRAPH AND TO SHOW THE INDICATORS.(b) Is fY( y ) allowable as a p.d.f.? Why or why not. (c) Use Integrating.xls to compute the probability that at least 40% of the adult population has heard of our company. BE SURE TO GIVE THE EQUATION AS ENTERED IN EXCEL, TO SHOW YOUR GRAPH AND TO SHOW THE INDICATORS.3. The lifetime, in years, of the transmitter in your new wireless mouse is an exponential random variable with parameter a = 5.1 years. Let Y be this continuous exponential random variable.(i) Use the c.d.f. to calculate P(Y ≥6.2). Show all work.(ii) Use the c.d.f. to calculate P(2.3 ≤Y ≥ 7.3). Show all work.(iii) Calculate E(X), V(X) and x. SHOW HOW YOU OBTAINED YOUR ANSWERS.4. Let X be a continuous random variable that is uniform on the interval [2, 16].(i) Use the c.d.f. to calculate the probability that X is at most 11.3? AS USUAL, EXPLAIN YOUR ANSWER.(ii) Use the c.d.f. to calculate the probability that X is no less than 7.4? AS USUAL, EXPLAIN YOUR ANSWER.(iii) Calculate E(X), V(X) and x. SHOW HOW YOU OBTAINED YOUR
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