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1. A toll bridge charges $1.00 for passenger cars and $2.50 for other vehicles. Suppose that 60% of all vehicles are passenger cars. If 25 vehicles cross the bridge during a particular daytime period, (a) what is the probability that at least 3 of them are passenger cars? Compute by hand, and by using R. (b) what is the expected revenue and its associated standard deviation? (Hint: Express revenue R in terms of X, the number of passenger cars. Then, use the fact that for constants a, b, E(a+bX)= a +bE(X) and Var(a+bX)=b²Var(X))

1. A toll bridge charges $1.00 for passenger cars and $2.50 for other vehicles. Suppose that 60% of all vehicles are passenger cars. If 25 vehicles cross the bridge during a particular daytime period, (a) what is the probability that at least 3 of them are passenger cars? Compute by hand, and by using R. (b) what is the expected revenue and its associated standard deviation? (Hint: Express revenue R in terms of X, the number of passenger cars. Then, use the fact that for constants a, b, E(a+bX)= a +bE(X) and Var(a+bX)=b²Var(X))

A First Course in Probability (10th Edition)
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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1. A toll bridge charges $1.00 for passenger cars and $2.50 for other vehicles. Suppose that 60% of all vehicles are passenger cars. If 25 vehicles cross the bridge during a particular daytime period, (a) what is the probability that at least 3 of them are passenger cars? Compute by hand, and by using R. (b) what is the expected revenue and its associated standard deviation? (Hint: Express revenue R in terms of X, the number of passenger cars. Then, use the fact that for constants a, b, E(a+bX) = a +bE(X) and Var(a+bX) = b² Var(X))
Transcribed Image Text:1. A toll bridge charges $1.00 for passenger cars and $2.50 for other vehicles. Suppose that 60% of all vehicles are passenger cars. If 25 vehicles cross the bridge during a particular daytime period, (a) what is the probability that at least 3 of them are passenger cars? Compute by hand, and by using R. (b) what is the expected revenue and its associated standard deviation? (Hint: Express revenue R in terms of X, the number of passenger cars. Then, use the fact that for constants a, b, E(a+bX) = a +bE(X) and Var(a+bX) = b² Var(X))
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