A contractor is considering a sale that promises a profit of $34,712 with a probability of 0.7 or a loss (due to bad weather, strikes, and such) of$6,398 with a probability of 0.3. The following table summarizes the probability distribution. What is the expected profit or loss? Round youranswer to the nearest hundredth.Profit, xProbability, P(x)$34,7120.7-$6,3980.3Type your answer...

Answered: Image /qna-images/answer/5256494d-6288-437a-aaa6-b0e6e8bbb0e9.jpg

Answered: A contractor is considering a sale that…

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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If the probability that a professor correctly writes a slide is 0.80, what is the probability that at least 6 out of 8 slides are correct? Round your answer to two decimal places. Write your answer as a fraction not as a percentage (i.e. write as 0.38 not as 38%).
According to a 2009 Reader's Digest article, people throw away about 10% of what they buy at the grocery store. Assume this is the true proportion and you plan to randomly survey 115 grocery shoppers to investigate their behavior. What is the probability that the sample proportion does not exceed 0.11? Answer = (Enter your answer as a number accurate to 4 decimal places.) Check Answer
76% of all bald eagles survive their first year of life. Give your answers as decimals, not percents. If 30 bald eagles are randomly selected, find the probability that (a) At most 22 of them survive their first year of life. 0.73 (b) At least 23 of them survive their first year of life. (c) Exactly 21 of them survive their first year of life. X
Determine the following probabilities. Leave your answer as a percent to the nearest tenth (one decimal after converting to %). The probability of spinning an even number or multiple of 5 on the equal section spinner with numbers 1-20. Leave your answer as a percent to the nearest tenth (one decimal) after converting to %. You can leave out the % sign.
An insurance company issues a policy for a diamond ring worth $15,000 for an annual premium of $225.00. If the company figures the probability of the ring to be lost or damaged is 0.005, what is the company's expected profit? Round your answer to nearest cent. (e.g. $135.789 would enter as 135.79)
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An insurance company sells a $12,000, five-year term life insurance policy to an individual for $640. Find the expected return for the company if the probability the individual will live for the next five years is 0.98. (Round your answer to the nearest cent.) (Don't Hand writing in solution) .
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The probability that a 80-year-old female in the U.S. will die within one year is about 0.048711. An insurance company is preparing to sell a 80-year-old female a one-year, $20,000 life insurance policy. How much should it charge for its premium in order to have a positive expectation for the policy? (Round your answer to the nearest dollar.)$

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