2. A company makes electronic doohickeys. Seventeen out of every 80 doohickeys are faulty,but the company doesn't know which ones are faulty until a buyer complains. Suppose adoohickey costs $33 to make and they sell it for $55. This means the company makes a $22profit on the sale of any working doohickey, but suffers a loss of $75 for every doohickeythat is faulty because they have an amazing guarantee and will repair the unit.How much is the expected value of each doohickey? Can the company expect a profit inthe long term? How much profit will they make if they sell 100 doohickeys? How muchoverall profit will they make if they sell 2000?

Out of 80 doohickeys, 17 are faulty doohickeys. The making cost of doohickeys is $33 and the selling…

Answered: A company makes electronic doohickeys.…

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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For the remainder of this question, we will consider one of the world's most popular video games, Minecraft (adapted from Mills & Mills, 2016). In this game, the character (you) can attempt to tame a wolf with a bone. Assume that you get 9 tries to tame the wolf, i.e. there are 9 bones. Each time you tame the wolf, the wolf becomes a dog and a new wolf appears which you can then attempt to also tame. This continues until you have used up all 9 bones, and the goal is to end up with as many dogs as possible at the end of the game. The probability of taming the wolf with each attempt is fixed at 0.54. Let X denote the number of dogs at the end of the game so that X BIN (9,0.54). Assume you are about to play the game. 12. What is the probability you will tame less than 4 dogs?
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You are using cash to pay a $20 parking ticket. In your wallet you have one $5-dollar bill, three $10-dollar bills, and two $20 dollar bills, and you draw out one bill at a time at random until you have at least $20. If you keep track of each bill as you draw it out of the wallet, how many different ways are there for you to get at least $20?
For the remainder of this question, we will consider one of the world's most popular video games, Minecraft (adapted from Mills & Mills, 2016). In this game, the character (you) can attempt to tame a wolf with a bone. Assume that you get 9 tries to tame the wolf, i.e. there are 9 bones. Each time you tame the wolf, the wolf becomes a dog and a new wolf appears which you can then attempt to also tame. This continues until you have used up all 9 bones, and the goal is to end up with as many dogs as possible at the end of the game. The probability of taming the wolf with each attempt is fixed at 0.54. Let X denote the number of dogs at the end of the game so that X~ BIN (9,0.54). Assume you are about to play the game. 15. The probability that you will tame some number a or less dogs is 0.66144. What must be (round to the nearest whole number)?

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