Help with Variance Homework - Find Mean & Probability

  • Thread starter t.war13
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In summary, the problem involves finding the mean and variance of the number of bikes that can be repaired before the wheels run out, given that there is a 0.1 probability that a bike will need a new wheel and the shop has 3 wheels in stock. The mean and variance can be calculated using the formula 1/(0.1^3) = 1000. However, this expression is incorrect and the correct method of obtaining the mean and variance is not shown. Additionally, the probability that 20 or more bikes can be fixed before the wheels run out is incorrectly calculated as (1-0.001*19) = 0.981. Further information and clarification is needed to solve this problem.
  • #1
t.war13
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Homework Statement



For every bike that comes into a repair shop there is a 0.1 probability that a wheel will need replacing. The shop always has 3 wheels in stock. X is the number of bikes that can be repaired before the wheels run out. I need to figure out the mean and variance of X.


Homework Equations





The Attempt at a Solution



For the mean I have done : 1/(0.1^3) = 1000 ..is this correct?
How would I figure out the variance?

I also need to figure out the probability that 20 or more bikes can be fixed before the wheels run out. I have done (1-0.001*19) = 0.981. I don't think that this is correct though?

Thanks for any help.
 
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  • #2
t.war13 said:

Homework Statement



For every bike that comes into a repair shop there is a 0.1 probability that a wheel will need replacing. The shop always has 3 wheels in stock. X is the number of bikes that can be repaired before the wheels run out. I need to figure out the mean and variance of X.


Homework Equations





The Attempt at a Solution



For the mean I have done : 1/(0.1^3) = 1000 ..is this correct?
How would I figure out the variance?

I also need to figure out the probability that 20 or more bikes can be fixed before the wheels run out. I have done (1-0.001*19) = 0.981. I don't think that this is correct though?

Thanks for any help.

Your expression for the mean is wrong. How did you obtain it? We cannot help if you don't show your work, because we will have no way to tell where you went astray.
 
  • #3
(Ray, my guess is there was no working.)
t.war13, what is the probability that no more than two of the next N bikes will need wheels?
 

Related to Help with Variance Homework - Find Mean & Probability

1. What is variance and why is it important?

Variance is a measure of how spread out a set of data is. It tells us how much the data values deviate from the mean. It is important because it helps us understand the distribution of data and make comparisons between different sets of data.

2. How do you calculate variance?

Variance is calculated by taking the average of the squared differences between each data point and the mean. This is known as the sum of squared deviations. The formula for variance is: variance = (sum of squared deviations) / (number of data points).

3. What is the relationship between variance and standard deviation?

Standard deviation is the square root of variance. It is a measure of how much the data values deviate from the mean, similar to variance. However, standard deviation is easier to interpret because it is in the same units as the original data, while variance is in squared units.

4. How can variance help with probability calculations?

Variance is used in probability calculations to determine the likelihood of a certain outcome occurring. It helps us understand the spread of data and make predictions about future events. For example, in a coin toss, knowing the variance can help us determine the probability of getting heads or tails.

5. How can I use variance to compare data sets?

Variance can be used to compare the spread or variability of data between different sets. A smaller variance indicates that the data points are closer to the mean, while a larger variance indicates a wider spread of data. This can help us make comparisons and draw conclusions about the differences between the data sets.

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