Define a pair of random variables X and Y as follows:X = 1, if the pound value drops against the US Dollar next week;X = 0, otherwise.andY = 1, if the Bank of England raises interest rates next week;Y = 0, otherwise.An economist estimates the following joint probabilities:X=0 X=1Y=00.25 0.36Y=10.11 0.28Answer the following questions, rounding your answers to two decimal places where appropriate.(a) Find the conditional probability of Y=0 given X=1:(b) Find the expected value of X:

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Answered: Define a pair of random variables X and…

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 believer in the "random walk" theory of stock markets thinks the value of an index of stock prices has a 0.6 probability of rising in any year. The change in the value of the index in any given year is not affected by whether it rose or fell in earlier years. You plan to record the value for the index in each of the next eight years. Let the random variable, X, represent the number of years (out of the next 8 years) in which the value of the index rises. a) If X is distributed according to the binomial probability distribution, what are the values for n and p?o b) What are the possible values X can take, or equal? QMETH 201, Homework 3 c) Calculate the probability X = 30 d) Calculate the expected value for X. e) Calculate the standard deviation for X. 4
Two wine tasters rate each wine they taste on a scale of 1 to 5. From data on their ratings of a large number of wines, we obtain the given probabilities for both tasters' ratings of a randomly chosen wine. Taster 2 Taster 1 1 2 3 4 5 11 0.050.05 0.020.02 0.010.01 0.000.00 0.000.00 22 0.020.02 0.080.08 0.020.02 0.020.02 0.010.01 33 0.010.01 0.020.02 0.240.24 0.050.05 0.010.01 44 0.000.00 0.020.02 0.050.05 0.230.23 0.020.02 55 0.000.00 0.010.01 0.010.01 0.020.02 0.080.08 (c) What is the probability that Taster 11 rates a wine higher than Taster 2? Give your answer to two decimal places. probability:
The figure below shows survival probabilities from all-cause mortality over 20 years in participants over 50 years of age who have normal glucose, glucose intolerance, and Type II diabetes mellitus. Estimate the 5-year survival probability for Type II diabetes. a. approximately 10% b. approximately 60% c. approximately 76% d. approximately 84%
The annual premium for a $20,000 insurance policy against the theft of a painting is $350. If the (empirical) probability that the painting will be stolen during the year is 0.02, what is your expected return from the insurance company if you take out this insurance? Let X be the random variable for the amount of money received from the insurance company in the given year. E(X)= dollars
At a company, the employees were surveyed and classified according to their level of education and whether they smoked or not. The data are shown in the table. High school graduate College graduate Smoke 09 19 Do not Smoke 17 25 If an employee is selected at random, find the following probabilities. (Round your answers to three decimal places) a. Employee smokes and is a college graduate. b. Employee smokes or is a college graduate. c. Employee smokes, given that he or she graduated from college. d. Employee is a college graduate, given that he or she smokes.
Battle of the Cell Phones - Use the following table to answer the following questions. After analyzing sales data, the owner of a mobile phone store produced the following joint probability distribution of the number of Xenia phones (X) and Yella phones (Y) sold daily Xenia Phone Daily Sales Yella Phones Daily Sales 0.4 0.3 0.1 0.2 Solve for COV(X,Y): O 0.01 O 0.31 O 2 O 0.05
Please help me answer this. Thank you.
Use the following probabilities to answer the question. Round to 4 decimal places.P(A)=0.54P(A)=0.54 , P(B)=0.41P(B)=0.41 , P(AandB)=0.05P(AandB)=0.05 .P(B∣A)=
Calculate the following probabilities. Express probabilities as unsimplified fractions and percents. c) Probability of a 2 and a Heart? Fraction = ______________ Percent = ___________ d) Probability of a Red card or a King? Fraction = _______________ Percent = ___________
Complete the following table and use it calculate the probabilities given below. DACITY A < AC a. P (A or B) = b. P (A or B) = Total B 0.434 0.556 BC 0.247 SUBMIT QUESTION Total I SAVE PROGRESS SU
Consider three classes (I, II and III) consisting of 30, 25, and 45 students. Suppose a student is selected from class I, then he has 10% chance to make an A. Assume that these probabilities for the class II and III are 15% and 20% respectively. If a student is selected randomly and has an A, what is the probability that he is from class III. Enter your answer to the nearest FOUR decimal places. 0.5715
According to a recent Gallup Poll, 75% of Americans report that they are better off financially today than they were a year ago. Let p be the proportion of people in a random sample of 230 Americans that say that they are better off financially today than they were a year ago. Determine the following probabilities. Round solutions to four decimal places, if necessary . Find the probability that in a random sample of 230 Americans, less than 81% say they are better off financially today than they were a year ago. P( hat p <0.81)=; = Box Find the probability that in a random sample of 230 Americans, between 71% and 75% say they are better off financially today than they were a year ago . P(0.71< hat p <0.75)=

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