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

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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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2. p (x) = 2 x – 3 x-6 x³+9 x? + 8 x- 12, by x+ %
Q5) A college class contains boys and girls students together. The number of boys in the class is less than the number of girls by 1. A scientific team (committee) is required to be formed by one-third of the total students in such a way the number of girls is more than the number of boys by 1 too, and the choosing ways ratio of boys to girls is equal to (5/14). Therefore the ways that the team is formed, if half of the girls will be excluded from :selecting is 10060 O 20060 O 25015 O 15015 none of all above O
When it is sunny, Joe's ice cream truck generates a profit of $547 per day, when it is not sunny, the profit is $250 per day, and when the truck is not out there selling ice cream, Joe loses $120 per day. Suppose 8% of a year Joe's truck is on vacation, and 86% of a year the truck is selling ice cream on sunny days, what is the expected daily profit the truck generates over a year? Enter answer as a decimal rounded to TWO digits after the decimal point.
f. A drapper is required to supply two types of shirts type A and type B. The total number of shirts must not be more than 400. He has to supply more of type A than type B. However, the number of type A must not be more than 300 and the number of type B shirts must not be less than 80. Let x be the number of type A shirts and y be the number of type B shirts. If the profits were as follows: Type A Ksh 600 per shirt Type B Ksh 400 per shirt. Formulate a Linear Optimization Model, hence use the graphical method to determine the number of shirts of each type that should be made to maximize the profit.
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.
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.
f. Now suppose that Lynn contributes nothing to her retirement fund for eight years and then begins contributing $3,000 annually until age 60. How much of her salary would she have contributed to this retirement plan and how much money could she expect to have accumulated at age 60? f?
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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