2. Cards are drawn at random from a well-shuffled standard deck of 52 cards. (a) What is the probability that the top card is a face card (jack, queen, or king)? (b) What is the probability that the top card is a club and the next card is a diamond ? (c) What is the probability that the first card is a heart and the next is a jack? (d) What is the probability that the first four cards are spades and the fifth is an ace?

2. Cards are drawn at random from a well-shuffled standard deck of 52 cards. (a) What is the probability that the top card is a face card (jack, queen, or king)? (b) What is the probability that the top card is a club and the next card is a diamond ? (c) What is the probability that the first card is a heart and the next is a jack? (d) What is the probability that the first four cards are spades and the fifth is an ace?

Essentials of Business Analytics (MindTap Course List)

2nd Edition

ISBN:9781305627734

Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Chapter5: Probability: An Introduction To Modeling Uncertainty

Section: Chapter Questions

Problem 2P: Consider the random experiment of rolling a pair of dice. Suppose that we are interested in the sum...

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Consider the random experiment of rolling a pair of dice. Suppose that we are interested in the sum of the face values showing on the dice. a. How many outcomes are possible? b. List the outcomes. c. What is the probability of obtaining a value of 7? d. What is the probability of obtaining a value of 9 or greater?
plz answer (a).
Suppose you won the lottery and had two options: (1) receiving$0.5 million or (2) taking a gamble in which, at the flip of a coin, you receive $1 million if ahead comes up but receive zero if a tail comes up.a. What is the expected value of the gamble?b. Would you take the sure $0.5 million or the gamble?c. If you chose the sure $0.5 million, would that indicate that you are a risk averter or arisk seeker?d. Suppose the payoff was actually $0.5 million—that was the only choice. You nowface the choice of investing it in a U.S. Treasury bond that will return $537,500 at theend of a year or a common stock that has a 50–50 chance of being worthless or worth$1,150,000 at the end of the year. 1. The expected profit on the T-bond investment is $37,500. What is the expected dollarprofit on the stock investment?2. The expected rate of return on the T-bond investment is 7.5%. What is the expectedrate of return on the stock investment?3. Would you invest in the bond or the stock? Why?4. Exactly…
Here is some price information on Fincorp stock. Suppose that Fincorp trades in a dealer market. Bid Ask 46.54 46.89 a. Suppose you have submitted an order to your broker to buy at market. At what price will your trade be executed? (Round your answer to 2 decimal places.) b. Suppose you have submitted an order to sell at market. At what price will your trade be executed? (Round your answer to 2 decimal places.) c. Suppose you have submitted a limit order to sell at $47.15. What will happen? The trade will not be executed The trade will be executed d. Suppose you have submitted a limit order to buy at $46.76. What will happen? The trade will not be executed The trade will be executed
In cell E16, enter the appropriate formula to calculate the probability of either rolling a 7 or 11.
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Suppose we are interested in bidding on a piece of land and we know one other bidder is interested. The seller announced that the highest bid in excess of $9,800 will be accepted. Assume that the competitor's bid x is a random variable that is uniformly distributed between $9,800 and $14,700. Suppose you bid $12,000. What is the probability that your bid will be accepted (to 2 decimals)? Suppose you bid $14,000. What is the probability that your bid will be accepted (to 2 decimals)? 1 What amount should you bid to maximize the probability that you get the property (in dollars)? I Suppose that you know someone is willing to pay you $16,000 for the property. You are considering bidding the amount shown in part (c) but a friend suggests you bid $12,900. If your objective is to maximize the expected profit, what is your bid? Select What is the expected profit for this bid (in dollars)? Check My Work
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Here is some price information on FinCorp stock. Suppose that FinCorp trades in a dealer market.Bid =55.25 Ask= 55.50a. Suppose you have submitted an order to your broker to buy at market. At what price will your trade be executed?b. Suppose you have submitted an order to sell at market. At what price will your trade be executed?c. Suppose you have submitted a limit order to sell at $55.62. What will happen?d. Suppose you have submitted a limit order to buy at $55.37. What will happen?
You calculated that stocks A and B are worth $50. A currently sells for $49 and B currently sells for $51. Which stock should you buy? Select one: a. A b. B c. not enough information