uction3. Each week a garment factory makes one production run of their popular tie-dyed cheeseclothunder-shirts. The size of the run is either 5,000, 6,000, 8,000 or 10,000 undershirts, based onfield sale reports of projected demand. Although demand fluctuates considerably, the long-termmarket for the undershirts has held up well for many months. The probability distribution basedon the factory experience is:X6,000 8,00010,0005,0000.3P(X)0.4a) If the profit on each undershirt is $2.75, What is the expected weekly profit?5,000.0.3+ 6,000·0.4 + 10,000.0.1 +8,000.012002·3⁰= 4,900b) What is standard deviation of the number of undershirts weekly?√1200 = 340.1meLearn. Organ-1.5Assembler-- 5.5

Given information- We have given the probability distribution for X. X 5000 6000 8000 10000…

Answered: 3. Each week a garment factory makes…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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The following represents the probability distribution for the daily demand of microcomputers at a local store. Demand Probability 0 .1 1 .2 2 .3 3 .2 4 .2 The expected daily demand is _____. a. 1.0 b. 2 c. 2.2 d. 4
Suppose that you are offered the following "deal." You roll a six sided die. If you roll a 6, you win $15. If you roll a 3, 4 or 5, you win $1. Otherwise, you pay $10. a. Complete the PDF Table. List the X values, where X is the profit, from smallest to largest. Round to 4 decimal places where appropriate. Probability Distribution Table X P(X) b. Find the expected profit. $ (Round to the nearest cent) c. Interpret the expected value. This is the most likely amount of money you will win. O If you play many games you will likely lose on average very close to $0.33 per game. O You will win this much if you play a game. d. Based on the expected value, should you play this game? O No, this is a gambling game and it is always a bad idea to gamble. O Yes, since the expected value is positive, you would be very likely to come home with more money if you played many games. O Yes, because you can win $15.00 which is greater than the $10.00 that you can lose. O Yes, since the expected value is 0,…
Let X = {Email, In Person, Instant Message, Text Message}; P(Email) = 0.06 P(In Person) = 0.55 P(Instant Message) = 0.24 P(Text Message) = 0.15 Is this model a probability distribution? A. Yes. B. No. C. Maybe.
Suppose that you are offered the following "deal." You roll a six sided die. If you roll a 6, you win $9. If you roll a 3, 4 or 5, you win $2. Otherwise, you pay $3.a. Complete the PDF Table. List the X values, where X is the profit, from smallest to largest. Round to 4 decimal places where appropriate. Probability Distribution Table X P(X) b. Find the expected profit. $ (Round to the nearest cent)c. Interpret the expected value. You will win this much if you play a game. If you play many games, on average, you will likely win, or lose if negative, close to this amount. This is the most likely amount of money you will win. d. Based on the expected value, should you play this game? No, this is a gambling game and it is always a bad idea to gamble. Yes, because you can win $9.00 which is greater than the $3.00 that you can lose. No, since the expected value is negative, you would be very likely to come home with less money if you played many games. Yes,…
Suppose that the price of a share of a particular stock listed on the New York Stock Exchange is currently $39. The following probability distribution shows how the price per share is expected to change over a three-month period: Stock Price Change Probability -2 0.05 -2 0.10 0 0.25 1 0.20 2 0.20 3 0.10 4 0.10 a. Construct a spreadsheet simulation model that computes the value of the stock price in 3 months by simulating the price change 100 times. b. For a current price of $39 per share, what is the average stock price per share 3 months from now based on your simulation?
A lab orders a shipment of 199 rats a week, 52 weeks a year, from a rat supplier for experiments that the lab conducts. Prices for each weekly shipment of rats follow the distribution below: Price $10.00 $12.50 $15.00 Probability 0.4 0.25 0.35 How much should the lab budget for next year's rat orders assuming this distribution does not change. (Hint: How much should they EXPECT to pay?)
Students taking the Graduate Management Admissions Test (GMAT) were asked about their undergraduate major and intent to pursue their MBA as a full-time or part-time student. A summary of their responses follows. Undergraduate Major Intended Enrollment Status Full-Time Part-Time Intended Enrollment Status Full-Time Part-Time Totals 514 a. Develop a joint probability table for these data (to 4 decimals). Totals Business 344 170 Engineering 200 Business 169 I 369 Undergraduate Major Engineering Other Other Totals 238 782 196 434 535 1,317 Totals b. Use the marginal probabilities of undergraduate major (business, engineering, or other) to comment on which undergraduate major produces the most potential MBA students. Select your answer - + c. If a student intends to attend classes full-time in pursuit of an MBA degree, what is the probability that the student was an undergraduate engineering major (to 4 decimals)? d. If a student was an undergraduate business major, what is the probability…
Suppose that you are offered the following "deal." You roll a six sided die. If you roll a 6, you win $17. If you roll a 2, 3, 4 or 5, you win $4. Otherwise, you pay $6. a. Complete the PDF Table. List the X values, where X is the profit, from smallest to largest. Round to 4 decimal places where appropriate. Probability Distribution Table P(X) b. Find the expected profit. $ (Round to the nearest cent) c. Interpret the expected value. O This is the most likely amount of money you will win. Oif you play many games you will likely win on average very close to $4.50 per game. O You will win this much if you play a game. d. Based on the expected value, should you play this game? O No, since the expected value is negative, you would be very likely to come home with less money if you played many games. O Yes, since the expected value is positive, you would be very likely to come home with more money if you played many games. O No, this is a gambling game and it is always a bad idea to gamble.…

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