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A forest consists of two types of trees: those that are 0-5 ft and those that are taller than 5 ft. Each year, 40% of all 0-5-ft tall trees die, 10% are sold for $20 each, x% stay between O and 5 ft, and y% grow to be more than 5 ft. Each year, 50% of all trees taller than 5 ft are sold for $50, 20% are sold for $30, and 30% remain in the forest. What is the probability that a 0-5-ft tall tree will die before being sold? Two decimals. Note: x-0.31.

A forest consists of two types of trees: those that are 0-5 ft and those that are taller than 5 ft. Each year, 40% of all 0-5-ft tall trees die, 10% are sold for $20 each, x% stay between O and 5 ft, and y% grow to be more than 5 ft. Each year, 50% of all trees taller than 5 ft are sold for $50, 20% are sold for $30, and 30% remain in the forest. What is the probability that a 0-5-ft tall tree will die before being sold? Two decimals. Note: x-0.31.

A First Course in Probability (10th Edition)
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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A forest consists of two types of trees: those that are 0-5 ft and those that are taller than 5 ft. Each year, 40% of all 0-5-ft tall trees die, 10% are sold for $20 each, x% stay between 0 and 5 ft, and y% grow to be more than 5 ft. Each year, 50% of all trees taller than 5 ft are sold for $50, 20% are sold for $30, and 30% remain in the forest. What is the probability that a 0-5-ft tall tree will die before being sold? Two decimals. Note: x=0.31. Question 5 In the previous problem, what is the probability of eventually selling a tree that is taller than 5 ft. for $30? two decimals.
Transcribed Image Text:A forest consists of two types of trees: those that are 0-5 ft and those that are taller than 5 ft. Each year, 40% of all 0-5-ft tall trees die, 10% are sold for $20 each, x% stay between 0 and 5 ft, and y% grow to be more than 5 ft. Each year, 50% of all trees taller than 5 ft are sold for $50, 20% are sold for $30, and 30% remain in the forest. What is the probability that a 0-5-ft tall tree will die before being sold? Two decimals. Note: x=0.31. Question 5 In the previous problem, what is the probability of eventually selling a tree that is taller than 5 ft. for $30? two decimals.
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