of his crop. probability is 0.70 of typical weather, 0.20 of unusually dry weather, and 0.10 of a severe storm. Let X denote the farmer's profit next year. a. Constructa table with the probability distribution of X. b. What is the probability that the profit is $50,000 or less? c. Find the mean of the probability distribution of X. Interpret. 6.15 d. Suppose the farmer buys insurance for $3000 that pays him $20,000 in the event of a severe storm that destroys much of the crop and pays nothing other- wise. Find the probability distribution of his profit. Find the mean and summarize the effect of buying this insurance. TRY 6.12 Buying eBay You are watching two items posted for eBay and bid $30 for the first and $20 for the second going to win the first bid with probability 0.1 and the second bid with probability 0.2, independent events. Let X denote the random variable denoting the on sale on item. You estimate that you are and you assume that winning the two bids are total amount of money you will spend on the two items. a. List the sample space of all possible outcomes of winning or losing the two bids. (Draw b. Find the probability of each outcome in the sample space. (Use the tree diagram.) c. Find the probability distribution of X. of a tree diagram.) he ob- f 10 d.Find the mean of X.
of his crop. probability is 0.70 of typical weather, 0.20 of unusually dry weather, and 0.10 of a severe storm. Let X denote the farmer's profit next year. a. Constructa table with the probability distribution of X. b. What is the probability that the profit is $50,000 or less? c. Find the mean of the probability distribution of X. Interpret. 6.15 d. Suppose the farmer buys insurance for $3000 that pays him $20,000 in the event of a severe storm that destroys much of the crop and pays nothing other- wise. Find the probability distribution of his profit. Find the mean and summarize the effect of buying this insurance. TRY 6.12 Buying eBay You are watching two items posted for eBay and bid $30 for the first and $20 for the second going to win the first bid with probability 0.1 and the second bid with probability 0.2, independent events. Let X denote the random variable denoting the on sale on item. You estimate that you are and you assume that winning the two bids are total amount of money you will spend on the two items. a. List the sample space of all possible outcomes of winning or losing the two bids. (Draw b. Find the probability of each outcome in the sample space. (Use the tree diagram.) c. Find the probability distribution of X. of a tree diagram.) he ob- f 10 d.Find the mean of X.
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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If there are 5 dishes, they can be relished in any order at a time. In permutation, it should be in a particular order. In combination, the order does not matter. Take 3 letters a, b, and c. The possible ways of pairing any two letters are ab, bc, ac, ba, cb and ca. It is in a particular order. So, this can be called the permutation of a, b, and c. But if the order does not matter then ab is the same as ba. Similarly, bc is the same as cb and ac is the same as ca. Here the list has ab, bc, and ac alone. This can be called the combination of a, b, and c.
Counting Theory
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Question
The question is 6.12. A, B, C, and D go to 6.12 but just fall on a different page. Part D. also corresponds to 6.12. Need help on part A,B,C.
Transcribed Image Text:of his crop.
probability is 0.70 of typical weather, 0.20 of unusually
dry weather, and 0.10 of a severe storm. Let X denote the
farmer's profit next year.
a. Constructa table with the probability distribution
of X.
b. What is the probability that the profit is $50,000 or
less?
c. Find the mean of the probability distribution of X.
Interpret.
6.15
d. Suppose the farmer buys insurance for $3000 that
pays him $20,000 in the event of a severe storm that
destroys much of the crop and pays nothing other-
wise. Find the probability distribution of his profit.
Find the mean and summarize the effect of buying
this insurance.
TRY
6.12 Buying
eBay You are watching two items posted for
eBay and bid $30 for the first and $20 for the second
going to win the first bid
with probability 0.1 and the second bid with probability 0.2,
independent
events. Let X denote the random variable denoting the
on
sale on
item. You estimate that you are
and you assume that winning the two bids are
total amount of money you will spend
on the two items.
Transcribed Image Text:a. List the sample space of all possible outcomes of
winning or losing the two bids. (Draw
b. Find the probability of each outcome in the sample
space. (Use the tree diagram.)
c. Find the probability distribution of X.
of
a tree diagram.)
he
ob-
f
10
d.Find the mean of X.
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