8.5.49-BEQuestion HelpThe annual premium for a $10,000 insurance policy against the theft of a painting is $250. If the (empirical) probability that the painting will be stolen during the year is0.02, what is your expected return from the insurance company if you take out this insurance?Let X be the random variable for the amount of money received from the insurance company in the given year.E(X)dollars

Expected value:Consider the event 1 as the paint will be stolen and the event 2 as the paint will…

Answered: 8.5.49-BE Question Help The annual…

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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pls solve bcd Find the expected value of each random variable: a. x 10 20 30 P(X=x) 0.3 0.5 0.2 b. x 2 3 4 5 P(X=x) 0.3 0.4 0.2 0.1 c) Find the standard deviation of the random variables in part(a).d) Find the standard deviation of the random variables in part(b
Question 1. Exponential Probability Distributions ( (Exercise 6.29) The time between arrivals of vehicles at a particular intersection follows an exponential probability distribution with a mean of 12 seconds. a. Sketch this exponential probability distribution. b. What is the probability that the arrival time between vehicles is 12 seconds or less? c. What is the probability that the arrival time between vehicles is 6 seconds or less? d. What is the probability of 30 or more seconds between vehicle arrivals?
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The number of hours per week that the television is turned on is determined for each family in a sample. The mean of the data is 31 hours and the median is 27.2hours. Twenty-four of the families in the sample turned on the television for 16 hours or less for the week. The 8th percentile of the data is 16 hours. Based on the given information, determine if the following statement is true or false. The first quartile is less than 16 hours.
Once checked in at the ticket kiosk, the amount of time it takes a airline passenger at the Calgary International Airport to clear security is a random variable that can be modeled by the Exponential distribution with a µ = = 44.5 minutes. A statistician randomly selects n = 42 airline passengers and records how long, in minutes, it takes each to clear security once each has checked in at the ticket kiosk. (a) Complete the statement below. Enter your answer using all the decimals you can. The distribution of X ? minutes. minutes and a standard deviation σχ = with a mean x = (b) What is the probability that the average time for this sample of n = 42 airline passengers to clear security is between 30 minutes and 61 minutes? Enter your answer using all the decimals you can. = :42 airline passengers to clear security after ticket kiosk check-in is at most how many minutes? (c) 99% of the time, the mean time it takes n Enter your answer using all the decimals you can. minutes

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