proportion of vehicles which drive above the speed limit on a freeway is 85%. Suppose 100 vehicles are randomly clocked. 20 If each speeding vehicle is issued a $185 speeding ticket, the expected value of the ticket amount is $________. a $15,725 b $14,560 c $13,480
proportion of vehicles which drive above the speed limit on a freeway is 85%. Suppose 100 vehicles are randomly clocked. 20 If each speeding vehicle is issued a $185 speeding ticket, the expected value of the ticket amount is $________. a $15,725 b $14,560 c $13,480
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
| The proportion of vehicles which drive above the speed limit on a freeway is 85%. Suppose 100 vehicles are randomly clocked. |
| 20 | If each speeding vehicle is issued a $185 speeding ticket, the expected value of the ticket amount is $________. | |||||||
| a | $15,725 | |||||||
| b | $14,560 | |||||||
| c | $13,480 | |||||||
| d | $12,485 |
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A probability distribution portrays the normal results of potential qualities for a given information producing process.
Probability distribution come in many shapes with various qualities, as characterized by the mean, standard deviation, skewness, and kurtosis.
Financial backers use likelihood conveyances to expect returns on resources like stocks over the long haul and to support their danger.
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