25:10. A person has the choice of running hot snack stall or an ice cream and cool drìnkshop at a certain holiday resort during the coming summer season. If the weather during the season is cooland rainy he can expect to make a profit of Rs. 15,000 and if it is warm he can expect to make a profit ofonly Rs. 3.000 by running a hot snack stall. On the other hand, if his choice is to run an ice cream and cooldrink shop, he can expect to make a profit of Rs. l8,000 if the weather is warm and only Rs. 3,000 if theweather is cool and rainy. The meteorological authorities predict that there is 40% chance of the weatherbeing warm during the coming season. You are to advise him as to the choice between the two types ofstalls, Base clearly your argument on the expectation of the result of the two courses of action and show theresult in a tabular form.Pr

Answered: Image /qna-images/answer/281dc487-d89d-44f6-9877-ef44de5406bd.jpg

Answered: 25:10. A person has the choice of…

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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if in a 2 party race, party 1 is leading in the age category 45 years and under by 10% and that category represents 60% of the electorate and party #2 is leading in the over 45 years by 10% and that category represents 40% of the electorate. Show in percentage the deficit that party 2 needs to make up.
1.) With summer winding down, Mr. and Mrs. Mallery decided to take their family to the beach one last time. They loaded their kids, Olivia and Liam, into the car and headed off early in the morning. At 7:05 Olivia asked, "Are we there yet?" "We're one-third of the way there," replied Mr. Mallery. %3D At 7:25 Liam asked, "Are we there yet?" "We're 75% of the way there," said Mrs. Mallery. "Now, can you two figure out what time we %3D should get to the beach?" Assuming the Mallerys maintain a constant speed during their trip, at what time they will arrive at the beach?
12. Benny received 4 pennies on the first day of the month, and each day after that, he received quadruple the number of pennies that he received the day before. On what day of the month did Benny first receive over 1 million dollars on a single day? 15.
A building company pays Rp. 100.000, - per day for 50 laden (staff without expertise), Rp. 150,000 to 25 craftsmen 1 (personnel who have expertise in installing ceramics), and Rp. 200.000, - for 25 craftsmen 2 (manpower who have expertise in wood and electricity). What is the average wage paid by the building company for the three types of employees.
Two students in a microeconomics class traveled to a football game just before the midterm and drank too much to be able to study. So they telephoned their professor and lied to him, saying that a flat tire had delayed them. "No problem," said the professor. "Take the test tomorrow." When they arrived, the professor put each student in a separate room for taking the test. The first question, worth 5 points, was easy. The second question was worth 95 points: "Which tire?" Calculate, for each student, the expected test score.
8. (b). A bag contains 2 white and 3 black balls. Four persons A, B, C and D in the order named each draw one ball and do not replace it. The person to draw a white ball receives Rs. 200. Determine their expectations.
A media personality argues that global temperatures are not rising, because every year an increase is reported, such as 0.09 degrees C. The difference from the previous year is less than the margin of error of about 0.13 degrees C, so that difference should be ignored. What is a strong counter argument? The difference is only 0.4 but that is still a significant change. The change of 0.9 is not a lot and thus should be ignored. The margin of error is larger than the increase so we should consider it an issue just extra information and thus can be ignored. The margin of error is quite small compared to the change year over year, so it is a significant issue.
10. The owner of a readymade garments store sells two types of shirts-Zee-shirts and Button-down shirts. He makes a profit of Rs.3 and Rs.12 per shirt on Zee-shirts and Button-down shirt, respectively. He has two tailors, A and B at his disposal to stitch the shirts. Tailors A and B can devote at the most 7 hours and 15 hours per day, respectively. Both these shirts are to be stitched by both the tailors. Tailors A and B spend 2 hours and 5 hours, respectively in stitching one Zee- shirts, and 4 hours and 3 hours, respectively in stitching a Button-down shirt. How many shirts of both types should be stitched in order to maximize daily profit? i) Formulate and solve this problem as an LP problem. ii) If the optimal solution is not integer-valued, use Gomory technique to derive the optimal integer solution.
1. If A = {4k+ 5k € Z} and B = {4k+ 1kZ} then A= B.
1. A student is planning to spend her saving to get a new iPhone which costs $2500. The store gives a regular discount of 15% from the original price. However, if she buys the phone within that month, she is entitled an additional discount of 5% on top of the regular discount. (a) Find the selling price of the phone with regular discount. (b) Find the selling price with an additional discount, the student will pay if she buys the phone within that month.
32. A hardware company sells a lot of low-cost, highvolume products. For one such product, it is equallylikely that annual unit sales will be low or high. Ifsales are low (30,000), the company can sell theproduct for $20 per unit. If sales are high (70,000),a competitor will enter and the company will be ableto sell the product for only $15 per unit. The variablecost per unit has a 20% chance of being $10, a 60%chance of being $11, and a 20% chance of being $12.Annual fixed costs are $20,000.a. Use simulation to estimate the company’s expectedannual profit.b. Find a 95% interval for the company’s annualprofit, that is, an interval such that about 95% ofthe actual profits are inside it.c. Now suppose that annual unit sales, variable cost,and unit price are equal to their respective expectedvalues—that is, there is no uncertainty. Determinethe company’s annual profit for this scenario.d. Can you conclude from the results in parts a and cthat the expected profit from a simulation is…

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