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- Please answer the attached fourth problemThe principle of redundancy is used when system reliability is improved through redundant or backup components. Assume that a student's alarm clock has a 19.1% daily failure rate. Complete parts (a) through (d) below. a. What is the probability that the student's alarm clock will not work on the morning of an important final exam? -(Round to three decimal places as needed.) b. If the student has two such alarm clocks, what is the probability that they both fail on the morning of an important final exam? -(Round to five decimal places as needed.) c. What is the probability of not being awakened if the student uses three independent alarm clocks? -(Round to five decimal places as needed.) d. Do the second and third alarm clocks result in greatly improved reliability? A.Yes, because you can always be certain that at least one alarm clock will work. B.No, because the malfunction of both is equally or more likely than the malfunction of one. C.Yes, because…Suppose we begin with a population of normally distributed values with mean zero and S.D. = 1 and we add a positive number k to every value. If a value is randomly selected from this population, find the probability that it is greater than k + 1.
- When studying radioactive material, a nuclear engineer found that over 365 days, 1,000,000 radioactive atoms decayed to 978 comma 724 radioactive atoms, so 21 comma 276 atoms decayed during 365 days. a. Find the mean number of radioactive atoms that decayed in a day. (Round to three decimal places as needed.) b. Find the probability that on a given day, 52 radioactive atoms decayed. (Round to six decimal places as needed.)1. ABC inc. stock is currently selling for $30, one year from today the stock price can either increase by 20% or decrease by 15%. The probability of an increase in the stock price is equal to 0.3. The one-year risk-free rate is 5% What is the value of a European put that expires in one year with an exercise price of $24. 2. Graphically, show the value and the profit and loss of the following butterfly position: Long in a call with an exercise price of $30, short in 2 calls with an exercise price of $45, and long in a call with an exercise price of 60. All calls are written on the same stock and have the same maturity. 3. "Early exercise of an American option on a stock that does not pay any dividend is not optimal regardless of whether the option is a Call or a Put". True, False, or Uncertain. Explain.Suppose a math class contains 33 students. There are 23 females (five of whom speak Spanish) and 10 males (two of whom speak Spanish). Give all answers as decimals to at least two decimal places.1. What is the probability that a randomly selected student speaks Spanish, given that the student is female? 2. What is the probability that a randomly selected student does not speak Spanish, given that the student is male?
- Suppose that the rats on the campus of Hypothetical U are found to be carriers of bubonic plague. Eradicating the rats has an estimated cost of $1,000,000 and is expected to reduce the probability a given student dies of the plague from 1/3,000 to zero. Suppose that there are 30,000 students on campus. Suppose further that the administration refuses to eradicate the rats due to the cost. From this information, we can estimate that the administration's willingness to pay to save a student statistical life is no more than $100,000 $1,000,000 $50,000 $33,333The principle of redundancy is used when system reliability is improved through redundant or backup components. Assume that a student's alarm clock has a 15.7% daily failure rate. Complete parts (a) through (d) below. a. What is the probability that the student's alarm clock will not work on the morning of an important final exam? | (Round to three decimal places as needed.) b. If the student has two such alarm clocks, what is the probability that they both fail on the morning of an important final exam? (Round to five decimal places as needed.) c. What is the probability of not being awakened if the student uses three independent alarm clocks? (Round to five decimal places as needed.) d. Do the second and third alarm clocks result in greatly improved reliability? O A. No, because total malfunction would still not be unlikely. O B. No, because the malfunction of both is equally or more likely than the malfunction of one. OC. Yes, because you can always be certain that at least one…Please answer the attached third problem
- o. In a certain region of the country it is known From past experience that the probability of sele Cting an adult over 40 years of age with cancer is 0:05. If the probability of a doctor correctly diagnosing a person with cancer as having the di sease is 0-18 and the probability of incorrectly diagrosing a person without cancer as having the disease is 0.00 a. What is the probability that an adult over 40 yearı of age is diagnos ed as having Cancer ? b. what is the prooability that a person diagnosed as having cancer actually has the disease?Jim has a 5-year-old car in reasonably good condition. He wants to take out a $20,000 term (that is, accident benefit) car insurance policy until the car is 10 years old. Assume that the probability of a car having an accident in the year in which it is x years old is as follows: x = age 5 6 7 8 9 P(accident) 0.01182 0.01282 0.01386 0.01513 0.01602 Jim is applying to a car insurance company for his car insurance policy. If the car insurance company wants to make a profit of $700 above the expected total losses of $1393, how much should it charge for the policy? Group of answer choices $701 $693 $713 $703 $705A major traffic problem in the Greater Cincinnati area involves traffic attempting to cross the Ohio River from Cincinnati to Kentucky using Interstate 75. Let us assume that the probability of no traffic delay in one period, given no traffic delay in the preceding period, is 0.95 and that the probability of finding a traffic delay in one period, given a delay in the preceding period, is 0.75. Traffic is classified as having either a delay or a no-delay state, and the period considered is 30 minutes. (a) Assume that you are a motorist entering the traffic system and receive a radio report of a traffic delay. What is the probability that for the next 60 minutes (two time periods) the system will be in the delay state? Note that this result is the probability of being in the delay state for two consecutive periods. = (b) What is the probability that in the long run the traffic will not be in the delay state? (Enter your probabilities as fractions.) No Traffic Delay Traffic Delay π 1 =…