If a business owner, who is only interested in the bottom line, computes the expected value for the profit made in bidding on a project to be -$3,000, then this owner should not bid on this project. true or false?

Q: A hypothesis states that "as a person’s education increases their income is likely to increase". In…

A: A hypothesis states that "as a person’s education increases their income is likely to increase".

Q: Write two examples each of sure events and impossible events from your daily life.

A: Solution : 1. Sure Events :         An event containing all the points of the sample space then it…

Q: Provide some examples of discrete event simulation

A: Discrete event simulation is the part of simulation process, where real-time or real-life problems…

Q: Identify a commonly used graphical technique for portraying events and relationships among events.

A: Venn diagram:Venn diagram is a diagrammatic representation of sets that show the relationship…

Q: Write a formula for MULTIPLICATION RULE FOR INDEPENDENT EVENT.

A: Multiplication theorem for probability of independent events  If A and B are two events with…

Q: Define mutually exclusive events in your own words.

A: Given: mutually exclusive events are things that can't happen at the same time.

Q: By rewriting the formula for the multiplication rule, you can write a formula for finding…

A:

Q: In the online multiplayer social deduction game Among Us, you are either a Crewmate or an Impostor.…

A: Total players 10 7 crewmates 3 imposters You are one of them   3 imposters killed crewmates Then…

Q: What is the difference between portfolio expected return and portfolio risk (write the formulas)?

A: Given to know about the differences between portfolio expected return and the portfolio risks.

Q: Another trader would like to carry out a hypothesis test about stocks that offer dividends. Why is…

A: Dividend refers to the distribution of profits, profits always make a quantity larger after being…

Q: Suppose you pay 2 pesos to play toss coins. For each 2 heads or 2 tails, you receive 4 pesos, else…

A: It is interpreted that, for every 2 heads or 2 tails (i.e., if both outcomes are equal), 4 pesos is…

Q: Explain Gambler’s Ruin for a project in Probability course and find some ideas of how I can proceed…

A: Given:: Gambler’s Ruin for a project in Probability course.

Q: how do you calculate the waiting time before a player looses

A:

Q: The probability that a printer produces 0, 1, 2, 3, and 4 misprints are 15%, 22%, 10%, 38% and 15%,…

A: The probability that a printer produces 0, 1, 2, 3, and 4 misprints are 15%, 22%, 10%, 38% and 15%,…

Q: Carlie is betting on a game in which each bet has an expected value of -$0.56. This implies Carlie…

A:

Q: 5. A swim club offers swimming lessons to children in the local community free of charge each Friday…

A: Note: Hey, since multiple sub parts are posted, we will answer first three sub parts according to…

Q: None

A: Let's break down each section:1. **General Journal**: This is where all the transactions are…

Q: Professor Ramos will participate in a lottery that will be played by 165 participants. He buys a…

A: The question is about expected value.Given :Total no. of participants = 165Cost of ticket =…

Q: In a certain city district, the need for money to buy drugs is stated as the reason for 36% of all…

A: It is given that n=5 and p=0.36.

Q: What are the two rules of finding probability of complex events?

A: The two rules for finding the probability of complex events are 1. Addition rule of probability and…

Q: What are the similarities and difference of how to find probabilities of independent events and…

A: Independent events: Independent events are events where the occurrence of one event does not affect…

Q: Using continuity correction,  probability of observing less than 10 successes.

A: Given: probability for less than 10 successes

Q: 1on 16,87. A person applies for 200 equity shares of Rs.10 each to be issued at a premium of Rs.6…

A:

Q: If the success rate of a company is 19% in 6 months then by using probability tell me that what will…

A: From the given information we find the probability.

Q: (i) The probability a 30-year-old survives to age 40 is 5/6. (ii.) The probability a 40-year-old…

A: Given data The probability a 30 year old survives to age 40 is 5/6 The probability that a 40 year…

Q: By rewriting the formula for the Multiplication Rule, you can write a formula for finding P(A and B)…

A: Let,A-event that flight departs on timeB-event that flight arrives on time Given that,=>…

Q: Differentiate Simple event from Compound Event.

A: Here we need to differentiate simple event from compound event.

Q: 5 men and 3 women sit together in a row. Find the probability that (a) the same gender is at each…

A: There are total 8 people. n= 5+3= 8 Number of women= 3  and number of men= 5  Total possible ways to…

Q: Explain whether small cap stocks returns are actually normally distributed.  Provide 1 example to…

A: The small cap stocks usually have market capitalization between $300 millions to $2 billions.…

Q: how do we know when to use probability formulas such as p(x)=1-P? what are the other formulas?

A: Probability means possible results It is ratio of favorable outcomes and total outcomes.  Simple…

Q: How Probability and decision analysis can help us benefit in our future

A: In each and every field - " Probability and decision analysis can benefit us

Q: A competition offers prize money for players reaching the final. If a player reaches the final,…

A: Introduction: The semi-final stage of a competition has 4 players called semi-finalists, who are…

Q: As the number of cars a person owns increases, so does the life expectancy of the person. What is…

A: Given: If a person has more number of cars then it means that the person has more wealth. If a…

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.