$200,000
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The following table is a partial
(x = profit in $1,000s)
for the first year of operation (the negative value denotes a loss).
x f(x)
−100 0.10
0 0.20
50 0.30
100 0.25
150 0.10
200
(a)
What is the proper value for
f(200)?
f(200) =
What is your interpretation of this value?
This is the ---Select--- percent probability that the MRA will have a $200,000 profit.
(b)
What is the probability that MRA will be profitable?
(c)
What is the probability that MRA will make at least $100,000?
Please only correct and with concept and dont do handwritten or skip please!!
Step by step
Solved in 3 steps
- In the table below x denotes the X-Tract Company’s projected annual profit (in $1,000). The table also shows the probability of earning that profit. The negative value indicates a loss. x f(x) x = profit -100 0.01 f(x) = probability -200 0.04 0 100 0.26 200 0.54 300 0.05 400 0.02 14 If we quadruple each value in the profit column above, the new variance of profit will be. a 187,136 b 183,467 c 179,870 d 46,784In the table below x denotes the X-Tract Company’s projected annual profit (in $1,000). The table also shows the probability of earning that profit. The negative value indicates a loss. x f(x) x = profit -100 0.01 f(x) = probability -200 0.04 0 100 0.26 200 0.54 300 0.05 400 0.02 12 If we add $45 to each value in the profit/loss column above, the new variance of profit will be, a 12,169 b 11,741 c 11,696 d 11,467review(10a): In the z distribution the mean will always be (a) less than 1 (b) greater than 1 (c) equal to 1. (d) equal to zero.
- The table below shows the probability distribution function of the number of accidents (X) occur in a day by taxis belonging to a taxi company. x 0 1 2 3 4 P(X = x) 0.5 0.15 0.05 2k k (a) Find the value of k.(b) Find the expected value and standard deviation of the number of accidents (X) occurring in a day.(c) Assume the net profit ($), Y, of the taxi company in a day is given by Y = 10000 – 4000X. Find theexpected value, variance, and standard deviation of the net profit of the taxi company in a day.(d) What is the maximum profit the company earn in a day? What is the corresponding probability?(e) What is the probability that the company loses money in a day?(f) Find the probability that there are exactly 3 days that the company loses money in a week (7 days).The useful life of Johnson rods for use in a particular vehicle follows an exponential distribution with an average useful life of 5.2 years.You have a three-year warranty on your vehicle’s Johnson rod. What is the probability that the Johnson rod doesn’t fail before then? That is, what is the probability that its useful life doesn’t end before three years?b.If the vehicle manufacturer wants to limit the number of claims on the three-year warranty to 20%, what should the average useful life of the Johnson rod be?I need help with C and D
- 2 The operator of a pumping station has observed that demand for water during early afternoon hours has an approximately exponential distribution with mean 100 cfs (cubic feet per second). (a) Find the probability that the demand will exceed 250 cfs during the early afternoon on a randomly selected day. (Round your answer to four decimal places.) (b) What water-pumping capacity, in cubic feet per second, should the station maintain during early afternoons so that the probability that demand will exceed capacity on a randomly selected day is only 0.02? (Round your answer to two decimal places.) cfs. The probability that a newborn life (age 0) survives x years is given by: 110 - x xPo 0The 2010 U.S. Census found the chance of a household being a certain size. The data is in the pmf below ("Households by age," 2013). Let X be the number (size) in a household. E(X) = k·P(X = k) 7 (or more) P(X=k) 0.267 0.336 0.158 0.137 0.063 0.024 0.015 k 1 2 3 5 6 a) The probability of a household size being more than 5, P(X > 5) = % b) In the long run, we are expected to see a household size of, E(X)= on average. Round answer to three decimal places. c) The probability that the size of a household is equal to two is %. d) The probability of a household size being three OR six is %.Number of 0 1 2 3 4 5 6 malfunctions: Probability: f(x) | 0.17 0.29 0.27 0.16 0.07 0.03 0.01Benford's Law claims that numbers chosen from very large data files tend to have "1" as the first nonzero digit disproportionately often. In fact, research has shown that if you randomly draw a number from a very large data file, the probability of getting a number with "1" as the leading digit is about 0.301. Suppose you are an auditor for a very large corporation. The revenue report involves millions of numbers in a large computer file. Let us say you took a random sample of n = 250 numerical entries from the file and r = 60 of the entries had a first nonzero digit of 1. Let p represent the population proportion of all numbers in the corporate file that have a first nonzero digit of 1. Test the claim that p is less than 0.301 by using α = 0.01. What does the area of the sampling distribution corresponding to your P-value look like? a. The area in the right tail of the standard normal curve. b. The area not including the right tail of the standard normal curve.…Q.7 For an exponential distribution fx(x; p) = (ue H, x20 %3D e. w. where u > 0 Write (Don't derive) (a) Mean (expected value), i.e. E(X). (b) Standard deviation, i.e. S.D. (X). (c) Moment generating function, i.e. Mx(t). (d) Cumulative distribution function (cdf), Fx(x). of NizvSEE MORE QUESTIONS
