An economist believes that during periods of high economic growth,the dollar appreciates with probability 0.70, in periods of moderateeconomic growth, the dollar appreciates with probability 0.40, andduring period of low economic growth, the dollar appreciates withprobability 0.20. During any period of time, the probability of higheconomic growth is 0.30, the probability of moderate growth is 0.50,and the probability of low economic growth is 0.20. Suppose the dollarhas been appreciating during the present period. What is theprobability if we are experiencing a period of high economic growth?

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Answered: An economist believes that during…

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 there is a 10% chance it will rain each day for the next week, what is the probability that it will rain at least once?
Suppose on a given day, there is a 23% chance Emily will forget her wallet when going to work. What is the probability she forgets her wallet at least once in the next ten days she goes to work?
If the probability of one event occurring is 1/4 and the probability of another event occurring is 1/10, what is the probability that both events will occur?
2. The probability that it will rain today is 50%. The probability that it will rain tomorrow is 60%. There is a 30% probability that it will rain both days. What is the probability that it will rain either today or tomorrow?
Suppose there is a 3/10 chance of snow each day this week. What is the probability that it will snow every day this week?
Suppose an oil company is thinking of buying some land for $10,000,000. There is a 60%60% chance of economic growth and a 40%40% chance of recession. The probability of discovering oil is 44%44% when there is economic growth and 32%32% when there is a recession. If there is economic growth and the oil company discovers oil, the value of the land will triple. If they do not discover oil, the value of the land will decrease by 10%.10%. If there is a recession and the company discovers oil, the value of the land will increase by 50%.50%. If they do not discover oil, the land will decrease in value by 75%.75%. What is the expected value of the investment? Give your answer to the nearest dollar. Avoid rounding within calculations. $$ Select the correct interpretation of the expected value. The expected value represents what the actual investment value will be for this land purchase of $10,000,000. The company should make the investment because the expected value…
Suppose that it rains in Spain an average of once every 11 days, and when it does, hurricanes have a 9% chance of happening in Hartford. When it does not rain in Spain, hurricanes have a 3% chance of happening in Hartford. What is the probability that it rains in Spain when hurricanes happen in Hartford? (Round your answer to four decimal places.)
Suppose a baseball player's batting average is .325. What is the probability that in the next 100 times at bat he will get at most 30 hits?
The probability that an applicant will be approved for a mortgage is 0.15. Each applicant has the same probability of being approved and the event that they are approved are independent. What is the probability that out of three applicants, exactly two of them get approved? Enter your answer as a decimal, with three decimal places. For example, if the probability is 15.37%, enter 0.154
Suppose that 51% of the people who inquire about investments at a certain brokerage firm end up investing in stocks, 41% end up investing in bonds, and 61% end up investing in stocks or bonds (or both). What is the probability that a person who inquires about investments at this firm will invest in both stocks and bonds? Write your answer as a decimal (not as a percentage).
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An insurance policy on an electrical device pays a benefit of $2400 if the device fails during the first year. The amount of the benefit decreases by $800 each successive year until it reaches 0 . If the device has not failed by the beginning of any given year, the probability of failure during that year is 0.29.Find the expected benefit under this policy.

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