Discrete random variable) Suppose a grocery store sells 6 containers of skim milk at thewholesale price of $1.15 per container and sells it for $1.65 per container. After the expirationdate, the unsold milk is removed from the shelves and the seller receives a refund of three-fourths of the wholesale price for this item. The probability of the number of containers soldfrom this lot is shown in the table below:Xf(x)01/1512/1522/1533/15a. Calculate the probability of selling less than 3 containers.b. Calculate the expected number of packages sold.c. Calculate the expected utility and its standard deviation.44/1552/1561/15

Answered: Discrete random variable) Suppose a…

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 company has seven applicants for two positions: three women and four men. Suppose that the seven applicants are equally qualified and that no preference is given for choosing either gender. Let x equal the number of women chosen to fill the two positions. (a) Write the formula for p(x), the probability distribution of x. (b) What are the mean ? and variance ?2 of this distribution? (Round your mean to one decimal place and your variance to two decimal places.)
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Suppose a neighborhood grocery store buys 5 containers of skim milk at the wholesale price of $11 per container and sells it for $22 per container. After the expiration date, unsold milk is removed from the shelves and the grocer receives a credit from the distributor equal to three-fourths of the wholesale price. If the probability distribution of the variable is X and the number of containers sold from this lot is x f(x) 0 1/15 1 2/15 2 2/15 3 3/15 4 4/15 5 3/15 Calculate the expected utility. (Round to two decimal places)
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The probability of the random variable X, which indicates the number of fish a fisherman catches a day,The function is as follows.a. Find the constant c.b. Calculate the probability of the fisherman catching less than 3 fish in a day.

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