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- What is the significance of the mean of a probability distribution? Choose the correct answer below. O A. It represents the most likely possible outcome. B. It is the expected value of a discrete random variable. OC. It can never be negative. OD. It gives information about how the outcomes vary.2. Statistical measures of stand-alone risk Remember, the expected value of a probability distribution is a statistical measure of the average (mean) value expected to occur during a possible circumstances. To compute an asset's expected return under a range of possible circumstances (or states of nature), multiply the anticipated return expected to result during each state of nature by its probability of occurrence. Consider the following case: Ethan owns a two-stock portfolio that invests in Happy Dog Soap Company (HDS) and Black Sheep Broadcasting (BSB). Three- quarters of Ethan's portfolio value consists of HDS's shares, and the balance consists of BSB's shares. Each stock's expected return for the next year will depend on forecasted market conditions. The expected returns from the stocks in different market conditions are detailed in the following table: Market Condition Probability of Occurrence Happy Dog Soap Black Sheep Broadcasting Strong 0.50 50% 70% Normal 0.25 30% 40% Weak…The mean number of patients admitted per day to the emergency room of a small hospital 1.3, if on a given day, there are only two beds available for new patients, what us the probability that the hospital will not have neough beds to accommodate its newly admitted patients ?
- 1.Which probability distribution would you use to calculate the probability of success or failure of Advanced Researcher's vaccine if it were to be administered to people in society?A tube of listerine tartar control toothpaste 4.2 ounces. As people use the toothpaste the amount remaining in any tube is random. Assume the amount of toothpaste remaining in the tube follows a uniform distribution. What is the probability that there is more than 1.5 ounces remaining in the tube?3. Some parts of California are particularly earthquake prone. Suppose that in one metropolitan area, 25% of homeowners are insured against earthquake damage. Four homeowners are to be selected at random. Let Y be the number among the four that have earthquake insurance. (a) Find the probability distribution of Y. (b) Draw the corresponding probability histogram. (c) What is the most likely value for Y? (d) What is the probability that at least two of the four selected have earthquake insurance?
- 3. What is the law of large numbers? If you were using the relative frequency of an event 500 to estimate the probability of the event, would it be better to use 100 trials of trials? Explain. but probabilitiesHow do you solve this?Q3. A 10-year record of tornadoes per year to land in a particular region is 2, 2, 1, 3, 2, 1, 0, 2, 3, and 1. Using Poisson's distribution, what is the probability of not having tornados in any 1 year? What are the average of the number of tornadoes in 1 year?
- The table shows the estimated distribution of injury severity by child passenger.What is the probability that the child involved in the accident is at least 1 year old12). What is a percentile? In probability notation, how would you find the 85th percentile?1] It has been reported that 50% of college students graduate in six years. Consider a random sample of 37 students and consider the number who graduate in six years. Using an appropriate probability distribution model ... Find the probability that more than 19 students in the sample graduate in six years. Find the probability that less than 19 students in the sample graduate in six years.