19 arses/97574/quizzes/357143/takeM Question Mode: M....0.56yaz...Question 20Consider the following cumulative distribution function for the discrete random variable X.0XP(X ≤ x)O 0.44O 0.56O 0.14O 0.30What is the probability that X equals 2?Question 2110.30PIX ≤X)210.440.30Consider the following cumulative distribution function for the discrete random variable X.230.440.72340.721.0041.004 pts4 pts

The cumulative distribution function represents the probability of less than or equal to the…

Answered: Consider the following cumulative…

Consider the following cumulative distribution function for the discrete random variable X. X P(X ≤ x) O 0.44 O 0.56 1 O 0.14 0.30 What is the probability that X equals 2? 2 0.44 3 0.72 4 1.00

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter2: Mathematics For Microeconomics

Section: Chapter Questions

Problem 2.16P

See similar textbooks

Similar questions

20
r.edu/courses/97574/quizzes/357143/take ch results - yaz... Question 23 Consider the following probability distribution. xi 0 M Question Mode: M... 1 2 3 O 2.5 0.9 O 1.9 P(X = xi) O 1.5 0.1 The expected value is 0.2 0.4 0.3 Question 24 An analyst has constructed the following probability distribution for firm X's predicted return for upcoming year.
5.100 Tossing a die. You are tossing a balanced die that has probability 1/6 of coming up 1 on each toss. Tosses are independent. We are interested in how long we must wait to get the first 1. (a) The probability of a 1 on the first toss is 1/6. What is the probability that the first toss is not a 1 and the second toss is a 1? (b) What is the probability that the first two tosses are not 1s and the third toss is a 1? This is the probability that the first 1 occurs on the third toss. 4 (c) Now you see the pattern. What is the probability that the first 1 occurs on the fourth toss? On the fifth toss?
21. The amount of bread (in hundreds of pounds) x that a certain bakery is able to sell in a day is found to be a numerical valued random phenomenon, with a probabiliiy function specified by the p.d.f. f(x), given by : k. x ={k. (10 – x), for 5
Suppose the market for auto insurance is made of up two types of buyers: high-risk and low-risk. Buyers’ willingness to pay (WTP) for auto insurance plans, and sellers’ willingness to accept (WTA) when selling plans to each type of buyer, are outlined in a photo Assume now that there is asymmetric information and that insurance companies do not knowhow risky an individual buyer is. In the face of this uncertainty, they determine that the probability that a “walk-in” is high-risk is 0.75. What is the minimum price sellers are willing to accept when selling aninsurance plan? At this price, will low- and high-risk buyers both be willing to purchase this insurance plan? Explain. Be sure the mention adverse selection in your answer. Returning to the conditions outlined in Q1, suppose that buyers of auto insurance (high- and low-risk) were offered a $1,000 subsidy to purchase coverage. This would raise their WTP by $1,000. Would the market for both insurance plans clear after the…
Explanation sir and tees ams
The owner of Tastee Cookies needs to decide whether to lease a small, medium, or large new retail outlet. She estimates that monthly profits will vary with demand for her cookies as follows: SIZE OFOUTLET DEMAND LOW HIGH Small $ 1,000 1,000 Medium 500 2,500 Large 0 3,000 For what range of probability that demand will be high, will she decide to lease the medium facility?
Define a random variable X which is equal to the number of heads occurring on the two coin tosses. Create a probability distribution table showing the possible values of X and the probability of getting each of those values. Explain why your probability distribution is valid (remember there are two conditions). Don't remember? See Module 6.50 introductory notes.
The probability distribution for the number of automobiles sold during a day (x) at Bob Iron Motors isas follows. x f(x) 0 0.001 1 0.007 2 0.034 3 0.099 4 0.188 5 6 0.220 7 0.136 8 0.055 9 0.015 10 0.001 17 The probability that 5 automobiles will be sold is,a 0.232b 0.244c 0.257d 0.271
Delta Airlines quotes a flight time of 2 hours, 5 minutes for its flights from Cincinnati to Tampa. Suppose we believe that actual flight times are uniformly distributed between 2 hours and 2 hours, 20 minutes. a. Which of the following graphs accurately represents the probability density function for flight time in minutes? f(x) T 0.15+ 1.
21 Los Angeles averages 266.5 sunny days per year. What is probability that Boston has at least as many sunny days as Los Angeles? a 0.0020 b 0.0031 c 0.0047 d 0.0073
Please no written by hand solution Kate recently invested in real estate with the intention of selling the property one year from today. She has modeled the returns on that investment based on three economic scenarios. She believes that if the economy stays healthy, then her investment will generate a 30 percent return. However, if the economy softens, as predicted, the return will be 10 percent, while the return will be -25 percent if the economy slips into a recession. If the probabilities of the healthy, soft, and recessionary states are 0.6, 0.2, and 0.2, respectively, then what are the expected return and the standard deviation of the return on Kate❝s investment? Calculate the coefficient of variation for this investment. (Round expected return to 3 decimal places, e.g. 0.125 and round intermediate calculations and standard deviation to 5 decimal places, e.g. 0.07680.)