nhighered.com/launchpad/fapp10e/11310118 Iniach Done Homework 8. Suppose a game has three outcomes, A, B, an OCcurs, $4 when outcome B occurs, and will ha $1.00 $5.00 50.00 $1.66
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Suppose a game has three outcomes, A, B and C with probabilities (A)=.2, (B)=.3, and (C)=.5. A player will receive three dollars when outcome A occurs, four dollars when outcome B occurs, and will have to pay two dollars when outcome C occurs. What is the
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- Charlie buys a one-year term home insurance policy for $p, that will pay $200,000 in the event of a major catastrophe and $35,000 in the event of a minor catastrophe. Charlie's home has a 0.2% chance of a major catastrophe and a 0.7% of a minor catastrophe during the one year term. What did the insurance company charge Charlie for this policy if the company expected to break even?Answers must be in 4 decimals 1. Bulsu plans to enforce speed limits using radar traps at 4 different locations within the campus. The radar traps at each of the locations L1, L2, L3, and L4 are operated 40%, 30%, 30%, and 20% of the time, and a person who is speeding on his way to work has probabilities of 0.2, 0.1, 0.5, and 0.2, respectively, of passing through these locations. If the person received a speeding ticket on his way to work, what is the probability that he passed through the radar trap located at L2? 2. A drug for the relief of asthma can be purchased from 5 different manufacturers in liquid, tablet, or capsule form, all of which come in regular and extra strength. How many different ways can a doctor prescribe the drug for a patient suffering from asthma?Suppose we know that the probabilities P(A) = .5, P(B|A) = .3 and P(A or B) =.3. What is the value for P(A and B)? What is the value for P(B)?
- Your car is making a funny noise. You believe that the problem is either with the wheel or the axle, and you believe the probability is 0.3 that the wheel needs to be replaced, and 0.7 that the axle needs to be replaced. You need to decide whether to replace the wheel or the axle first. The cost of each alternative is given in the following table (if you decided to replace the wrong part first, you have to replace both of them). The Wheel is broken p = 0.3 The Axle is broken p = 0.7 Replace Wheel First Replace Axle First 600 1500 1500 900 a) Find the EV of each decision alternative. Which part should you replace first? b) What is the EVPI?A person rides uber 30% of the time, her roommate gives her a ride 30% of the time and she rides with her mom 40% of the time. She is late 10% of the time with her roommate she is late 3% of the time when she rides uber and 7% of the time when she rides with her mom. What is the probability that she wil be on time if she rides with her roommate?Tony B. is attempting to start a landscaping business. He estimates that to break even, he will need about 150 customers. He believes that he will lose approximately $500 per customer for each customer fewer than the 150. At the moment, he believes there is an 80% probability that he will be able to secure between 130 and 170 customers, and that there is a 50/50 chance that demand will be greater than 160 customers. What is the mean or expected number of sales? Need to know how to calculate?
- Your probability professor has a tabby cat who sleeps 34% of the time and seems to respond to stimuli more or less randomly. If a human pets her when she’s awake, she will request more petting 8% of the time, food 38% of the time, and a game of fetch the rest of the time. If a human pets her when she’s asleep, she will request more petting 33% of the time, food 41% of the time, and a game of fetch the rest of the time. (You can assume that the humans don’t pet her disproportionally often when she’s awake.) • If the cat requests food when petted, what is the probability that she was asleep? • If the cat requests a game of fetch when petted, what is the probability that she was not asleep?Becky and Carla take an advanced yoga class. Becky can hold 29% of her poses for over a minute, while Carla can hold 35% of her poses for over a minute. Suppose each yoga student is asked to hold 50 poses. Let B the proportion of poses Becky can hold for over a minute and C = the proportion of poses Carla can hold for over a minute. What is the probability that Becky's proportion of poses held for over a minute is greater than Carla's? Find the z-table here. O 0.159 O 0,259 0 0.448 O 0,741 Save and Exit Next Submit Math and rem 96 & 7 8 9. 10Suppose an oil company is thinking of buying some land for $10,000,000. There is a 60%60% chance of economic growth and a 40%40% chance of recession. The probability of discovering oil is 44%44% when there is economic growth and 32%32% when there is a recession. If there is economic growth and the oil company discovers oil, the value of the land will triple. If they do not discover oil, the value of the land will decrease by 10%.10%. If there is a recession and the company discovers oil, the value of the land will increase by 50%.50%. If they do not discover oil, the land will decrease in value by 75%.75%. What is the expected value of the investment? Give your answer to the nearest dollar. Avoid rounding within calculations. $$ Select the correct interpretation of the expected value. The expected value represents what the actual investment value will be for this land purchase of $10,000,000. The company should make the investment because the expected value…
- Samatya supermarket is planning to order souvenir cups for the upcoming national feast. The cups cost $5 and sells for $20 each. The managers believe that the demand will be 500 cups with 20% probability, 1000 cups with 50% probability and 1500 cups with 30% probability. They plan to order 600, 1000 or 1300 cups. They have the opportunity to order 200 cups more for with a $15 per cup cost if the demand comes out as 1500 cups. The cups left on hand will be scrapped as there will be no more demand for them. Draw and solve the decision tree for this problem.3. A hacker breaking into a computer system has a 15% chance of breaking into a system in 3 minutes, a 35% chance after 8 minutes, and a 50% chance after 30 minutes. What is the expected time it will take the hacker to get in?4. Suppose you are playing a card game, and you have 3:1 odds of winning (there are no ties; you only win or lose). Your friend Alicia-your sole opponent-looks at her hand and sighs. You think that there is a 60% chance she sighs given you will win, and there is a 50% chance she sighs given that you will lose. Using our updating rule and the information given, what are the odds that you will win?
