2. This year Karen has decided to diversify her business by growing broc-coli as well as lettuce. Karen plants lettuce with a probability of orbroccoli with a probability of . By the time these plants are readyto harvest the price of lettuce increases with a probability of anddecreases with a probability of 3. The price of broccoli increases witha probability of , decreases with a probability of or stays the samewith a probability of .(a) Draw a probability tree for this scenario.(b) Use the probability tree to determine the probability that Karenplants broccoli and that the price of broccoli increases by the timeit is ready to harvest.(c) Use the probability tree to determine the probability that theprice of whatever Karen plants increases by the time it is readyto harvest.(d) Calculate Pr(Price of lettuce does not change | Karen plants lettuce).(e) Calculate Pr(Price of broccoli does not changen Karen plants broccoli).

Answered: Image /qna-images/answer/ccd8ce57-15eb-4b98-8775-759301ebe2ad.jpg

Answered: 2. This year Karen has decided to…

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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The proprietor of Midland Construction Company has to decide between two projects. He estimates that the first project will yield a profit of $160,000 with a probability of 0.7 or a profit of $120,000 with a probability of 0.3; the second project will yield a profit of $220,000 with a probability of 0.6 or a profit of $70,000 with a probability of 0.4.Find the expected profit for each project. first project $ second project $ Which project should the proprietor choose if he wants to maximize his expected profit? first project second project
Becky and Carla take an advanced yoga class. Becky can hold 29% of her poses for over a minute, while Carla can hold 35% of her poses for over a minute. Suppose each yoga student is asked to hold 50 poses. Let B the proportion of poses Becky can hold for over a minute and C = the proportion of poses Carla can hold for over a minute. What is the probability that Becky's proportion of poses held for over a minute is greater than Carla's? Find the z-table here. O 0.159 O 0,259 0 0.448 O 0,741 Save and Exit Next Submit Math and rem 96 & 7 8 9. 10
Suppose an oil company is thinking of buying some land for $10,000,000. There is a 60%60% chance of economic growth and a 40%40% chance of recession. The probability of discovering oil is 44%44% when there is economic growth and 32%32% when there is a recession. If there is economic growth and the oil company discovers oil, the value of the land will triple. If they do not discover oil, the value of the land will decrease by 10%.10%. If there is a recession and the company discovers oil, the value of the land will increase by 50%.50%. If they do not discover oil, the land will decrease in value by 75%.75%. What is the expected value of the investment? Give your answer to the nearest dollar. Avoid rounding within calculations. $$ Select the correct interpretation of the expected value. The expected value represents what the actual investment value will be for this land purchase of $10,000,000. The company should make the investment because the expected value…
Both flu and covid produce fevers. You know from past research that 10% of the population gets flu each year, but it is possible to get both covid and flu. Assume that the probability of getting flu and covid are independent. If this year the percentage of people reporting fever is 20%, what percentage of the population has covid? Studies show that due to similar transmission of flu and covid, someone who has covid has a 20% chance of also getting flu. What then is the probability of someone who has flu also having covid? Given the conditional information above, what is a better estimate of the percentage of people who have covid given the 20% fever reporting?
3. You get a haircut from Barber Shop 1 30% of the time and Barber Shop 2 70% of the time. Barber Shop 1 gives a good haircut 80% of the time and a bad haircut 20% of the time while Barber Shop 2 gives a good haircut 90% of the time and a bad haircut 10% of the time. For any given haircut, the probability that it is a bad haircut from Barber Shop 1 is Barber Shop 2 is and the probability that it is a good haircut from O.06; .63 .2; .73 O.06; .73 .2; .63
H6.
A doctor is seeking an anti-depressant for a newly diagnosed patient. Suppose that, of the available anti-depressant drugs, the probability that any particular drug will be effective for a particular patient is p = 0.32. What is the probability that the patient will need toa. take 4 different drugs until the effective one is found. b. take 5 different drugs until the effective one is found. c. take 7 different drugs until the effective one is found.
5. A commuter must pass through 4 different traffic lights on her way to work and will have to stop at each one that is red. She estimates the probability model for the number of red lights she hits, as shown below.X P(X) 0 0.05 1 0.25 2 0.35 3 0.20 4 0.15a. What is the probability she is stopped one time on her way to work?b. What is the probability she is stopped at least two times on her way to work
Q1. Some couples planning a new family would prefer at least one child of each sex. The probability that a couple’s first child is a boy is 0.512. In the absence of technological intervention, the probability that their second child is a boy is independent of the sex of their first child, and so remains 0.512. Imagine that you are helping a new couple with their planning. If the couple plans to have only two children: What is the probability that at least one girl is born?

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