Find the expected value of the random variable. Hugh buys $6,000 worth of stock in an electronics company which he hopes to sell afterward at a profit. The company is developing a new laptop computer and a new desktop computer. If it releases both computers before its competitor, the value of Hugh's stock will jump to $21,000. If it releases one of the computers before its competitor, the value of Hugh's stock will jump to $11,000. If it fails to release either computer before its competitor, Hugh's stock will be worth only $3000. Hugh believes that there is a 75% chance that the company will release the laptop before its competitor and a 58% chance that the company will release the desktop before its competitor. Assume that the development of the laptop and the development of the desktop are independent events and find Hugh's expected profit. O A. $8510.00 O B. $13295.00 O C. $13880.00 O D. $16130.00 O E. $14510.00

Find the expected value of the random variable. Hugh buys $6,000 worth of stock in an electronics company which he hopes to sell afterward at a profit. The company is developing a new laptop computer and a new desktop computer. If it releases both computers before its competitor, the value of Hugh's stock will jump to $21,000. If it releases one of the computers before its competitor, the value of Hugh's stock will jump to $11,000. If it fails to release either computer before its competitor, Hugh's stock will be worth only $3000. Hugh believes that there is a 75% chance that the company will release the laptop before its competitor and a 58% chance that the company will release the desktop before its competitor. Assume that the development of the laptop and the development of the desktop are independent events and find Hugh's expected profit. O A. $8510.00 O B. $13295.00 O C. $13880.00 O D. $16130.00 O E. $14510.00

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MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

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Concept explainers

Contingency Table

A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.

Binomial Distribution

Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.

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Question

Find the expected value of the random variable.
Hugh buys $6,000 worth of stock in an electronics company which he hopes to sell afterward at a profit. The company is developing a new laptop computer and a new
desktop computer. If it releases both computers before its competitor, the value of Hugh's stock will jump to $21,000. If it releases one of the computers before its
competitor, the value of Hugh's stock will jump to $11,000. If it fails to release either computer before its competitor, Hugh's stock will be worth only $3000. Hugh
believes that there is a 75% chance that the company will release the laptop before its competitor and a 58% chance that the company will release the desktop before
its competitor.
Assume that the development of the laptop and the development of the desktop are independent events and find Hugh's expected profit.
O A. $8510.00
B. $13295.00
O C. $13880.00
O D. $16130.00
O E. $14510.00

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