A certain test contains 10 multiple-choice problems. For five of the problems, there are four possibleanswers, and for the other five there are only three possible answers. X is the number of correct answers astudent gets by pure guessing.Does X have a binomial distribution?No, because there are more than two possible outcomes for each trial.O No, because the probability of success for each trial is not the same.Yes.No, because the trials are not all independent.No, because there is not a fixed number of trials.

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Answered: A certain test contains 10…

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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What are the four requirements for a probability experiment to be a binomial experiment? Choose from the list below. There are two trials. O Each trial has only two outcomes. O There is an unlimited number of trials. The outcomes are dependent on each other. Each trial has more than two outcomes. The probability of a success does not remain the same in each case. The probability of a success remains the same in each case. There is a fixed number of trials. The outcomes are independent of each other. X
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For the experiment of rolling an ordinary pair of dice, find the probability that the sum will be oddodd or a multiple of 33. (You may want to use a table showing the sum for each of the 36 equally likely outcomes.)
Your car is making a funny noise. You believe that the problem is either with the wheel or the axle, and you believe the probability is 0.3 that the wheel needs to be replaced, and 0.7 that the axle needs to be replaced. You need to decide whether to replace the wheel or the axle first. The cost of each alternative is given in the following table (if you decided to replace the wrong part first, you have to replace both of them). The Wheel is broken p = 0.3 The Axle is broken p = 0.7 Replace Wheel First Replace Axle First 600 1500 1500 900 a) Find the EV of each decision alternative. Which part should you replace first? b) What is the EVPI?
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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…
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