Consider the following probability distribution:

f(x) = 5Cx (0.324x)(0.6765-x) Where x = 0, 1, 2, 3, 4, and 5

Requirement: Transform the above distribution in a tabular form.
Note: Present your answer in four places after decimal.
You may use Excel function COMBIN

Consider the probability distribution given in the Excel sheet.

Requirement: i) Calculate mean.
ii) Calculate variance.
iii) Calculate standard deviation

Consider the following probability distribution:

X 10 11 12 13
Prob 0.19 0.32 0.31 0.18
.
It is further given that y = x3 – 12x2 + x.
Requirement: i) Construct probability distribution of y.
ii) Calculate expected value of y.
iii) Calculate variance of y.
A bowling statistics of Mr. Abdullah in 80 ODI matches are given in the Excel sheet.
Requirement: i) Construct probability distribution of # of wickets taken.

The drama company is planning to organize a show in an open-air theater. The total cost
of the show and the sale of tickets would be Rs.180,000/= and Rs.220,000/=
respectively.

The show is to be held in a rainy season and the probability of rain is 30 per cent. In case
of rainfall, the show will be cancelled, and consequently, there will be no revenue.
However, the company has to bear Rs.55,000/= towards cancellation charges and other
expenses.
Requirement: i) Construct probability distribution for profit.
ii) Calculate expected profit.

An oil drilling company intends to drill a well. The cost of drilling a well is Rs.70
million. There are three possibilities, it may be dry, wet, or soaking. The probabilities
and estimated revenues in different situations are given in the following table:
Dry Wet Soaking
Probabilit
50% 30% 20%
y
Revenue Nil Rs.120 Rs.270
Requirement: i) Construct probability distribution for profit.
ii) Calculate expected profit.

An agronomist had conducted a soil test of a piece of land and now he wanted to
cultivate a new variety of rice on it as an experiment. He has offered Rs.10,000/= to the
land owner for the said experiment with the commitment that if he (agronomist) has a
success, he will pay another sum of Rs.36,000/= to the landowner. The landowner
estimates the probability of success as 90%. If the landowner gives the land to
agronomist, how much profit he (landowner) is expecting.
Requirement: i) Construct probability distribution for profit.
ii) Calculate expected profit.