A man runs an ice cream parlour in a holiday resort. If the summer is mild he can sell 2500 cups of icecream. If it is hot he can sell 4000 cups. If it is very hot he can sell 5000 cups. It is known that theProbability of any year summer to be mild is 1/7 hot is 4/7.A cup of ice cream costs $ 2 and is sold for$3.50. What is his expectation?

Answered: Image /qna-images/answer/fef7d194-9d13-4921-8249-76cb5596012b.jpg

Answered: A man runs an ice cream parlour in a…

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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A booth at the school carnival prepared 30 grab bags offered for sale for $3.00 a bag. Ten bags contain merchandise worth $1.00. Eight bags contain merchandise worth $2.00, and twelve bags contain merchandise worth $3.00. You purchase one bag. What is your expected gain or loss?
An insurance company sells a $9,000, seven-year term life insurance policy to an individual for $560. Find the expected return for the company if the probability the individual will live for the next seven years is 0.96. (Round your answer to the nearest cent.)An insurance company sells a $9,000, seven-year term life insurance policy to an individual for $560. Find the expected return for the company if the probability the individual will live for the next seven years is 0.96. (Round your answer to the nearest cent.)
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1. Suppose the interest rate coefficient in the regression analysis is positive. Which of the following is true? a. The bank is insulated from interest rate changes. b. The bank will be adversely affected if interest rates increase. c. The bank will be adversely affected if interest rates decrease. d. None of the answers are correct. 2. Which of the following statements are correct? [you can select more than 1 answer] * a. If banks hold more capital, they can more easily absorb potential losses and are more likely to survive. b. Asset quality covers an institutional loan's quality which reflects the earnings of the institution. c. Management assessment determines whether an institution is able to properly react to financial stress. d. Examiners assess an institution's sensitivity to market risk by monitoring the management of credit concentrations.
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Oxnard petri Ltd is buying hurricane insurance for it's off-coast drilling platform. During the next five years, the probability of total loss of only the above-water superstructure ($250 million) is .25, the probability of total loss of the facility ($950 million) is.25, and the probability of no loss is.50. Find the expected loss.( Input the amount as a positive value.) Expected Loss is what?
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Suppose you are producing an outdoor festival. You estimate that you will make $100000 if it does not rain and make $50000 if it does rain. The weather bureau predicts that the chance of rain is 35% for the day of the concert. What are your expected earnings for the festival?
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