1. A company is manufacturing blue jeans at a cost of $9.99 per pair. They plan to put a price tag of $44.99per pair. They plan to produce 400,00 pairs. Any unsold units, can be sold in the after market forS14.99/pair.Demand (units)Demand Probability95,000200,000275,000350,0000.150.400.350.10What is the probability that their gross income will be over $15,00,000? They also want to know want is theprobability that their net profit will be less than $5,000,000

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Answered: 1. A company is manufacturing blue…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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Suppose you were planning a trip to the Disney World next year. You found the probability of going the Disney World next year is as follows: Number of trips 0 Probability 0.6 0.2 0.1 0.05 0.05 After searching online, you found buying a regular ticket when you get there: Costs $50 per ticket What would be the expected costs? 1 2 3 4
Apply the concept of probability distribution and show your complete solution.
A booth at the school carnival prepared 30 grab bags offered for sale for $3.00 a bag. Ten bags contain merchandise worth $1.00. Eight bags contain merchandise worth $2.00, and twelve bags contain merchandise worth $3.00. You purchase one bag. What is your expected gain or loss?
An insurance company sells a $9,000, seven-year term life insurance policy to an individual for $560. Find the expected return for the company if the probability the individual will live for the next seven years is 0.96. (Round your answer to the nearest cent.)An insurance company sells a $9,000, seven-year term life insurance policy to an individual for $560. Find the expected return for the company if the probability the individual will live for the next seven years is 0.96. (Round your answer to the nearest cent.)
1.A husband and wife take out an insurance policy for a 20 year term. It is estimated the probability of being alive in 20 years time is 0.8 for the husband, and 0.9 for the wife. What is the probability that in 20 years time, just one of them will be alive. Explain your reasoning carefully.
Suppose that you are offered the following "deal." You roll a six sided die. If you roll a 6, you win $17. If you roll a 3, 4 or 5, you win $5. Otherwise, you pay $6. a. Complete the PDF Table. List the X values, where X is the profit, from smallest to largest. Round to 4 decimal places where appropriate. Probability Distribution Table P(X) nd b. Find the expected profit. (Round to the nearest cent) c. Interpret the expected value. Of you play many games you will likely win on average very close to $3.33 per game. O You will win this much if you play a game. O This is the most likely amount of money you will win. or d. Based on the expected value, should you play this game? O Yes, since the expected value is positive, you would be very likely to come home with more money if you played many games. O Yes, since the expected value is 0, youvould be very likely to come very close to breaking even if you played many games, so you might as well have fun at no cost. No, since the expected…
28 The probability that a 50-year-old man will survive a fixed length of time is 0.995. An insurance company will sell him a $20,000 life insurance policy for this length of time for a premium of $200. What is the expected gain for the insurance company? * $200 $100 $250 $150
Below is a partially complete probability model. Outcome 0.5 1 1.5 4 Probability 0.35 0.2 0.15 ? Enter the probability for the final outcome. Find the expected value of the probability model.
A certain portfolio’s value increases by 30% during a financial boom, increases by 5% during normal times and it decreases by 2% during a recession. Suppose each scenario is equally likely and you invested $200 in this portfolio. . 1.Create a probability model for your net gain. 2.What is the expected net gain when you invest $200 in this portfolio? 3.What’s the standard deviation of your net gain when you invest $200 in this portfolio?
WFC Average St. Dev. Min 0.65% 10.26% -28.99% Мах 27.51% 25. Based on the table above, what is the probability of losing -7% or more for WFC? A. 0.07 B. 0.14 C. 0,23 D. 0.29 %3D E. 0.31 26. If you have $200,000 invested in WFC, what is the dollar value of VaR of losing -7% or more? A. $14,000 B. $28,000 C. $46,000 D. $58,000 E. $62,000 27. Based on the table above, there is 30% chance that your losses for WFC will be greater than A. -0,30% B. 2.15% C. 4.73% D. 7% E. -14% 28. Based on the table above, there is 30% chance that your dollar losses for WFC will be greater than if you have $200,000 invested in ti? A. -S600 B. $4,300 C. -$9,460 D. -$14,000 E. S28,000
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