Question 2 Alice has a coin that flips heads with probability p. She flips the coin n > 0times (assume the flips are independent).If exactly k of the n flips are heads, she wins $1. Otherwise she wins nothing.a) If 0 < k < n, what should p be to maximize Alice's expected winnings?b) If k = n, what should p be to maximize Alice's expected winnings? Explain whythis answer makes sense.

Answered: Image /qna-images/answer/d1e5f3b2-e54b-4b90-8a78-cad0a6c9dbb1.jpg

Answered: Question 2 Alice has a coin that flips…

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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A single card is drawn from a deck of 52 cards. Find the probability the card chosen is as follows. the jack of hearts or a spade STEP 1: Count the number of ways the event, S₁, that the jack of hearts is selected can occur. n(S₁) = STEP 2: Count the number of ways the event, S₂, that a spade is selected can occur. n(S₂) = STEP 3: Give the total number of possibilities U. n(u) = STEP 4: Give the probability, P(S₁), that the jack of hearts is selected. (Enter your probability as a fraction.) P(S₁) = STEP 5: Give the probability, P(S₂), that a spade is selected. (Enter your probability as a fraction.) P(S₂) = STEP 6: Give the probability, P(E), that the jack of hearts or a spade is selected. (Enter your probability as a fraction.) P(E) = STEP 7: Indicate which property was used to solve this problem. Property 1 (Impossible Events) Property 2 (Range of Probability) Property 3 (Probabilities with Or) Property 4 (Mutually Exclusive Events) none of the four properties
A bag contains 10 Blue balls, 10 Red balls, and 9 Green balls. Two balls are going to be drawn from the bag (one at a time) and then put to the side (they are not returned to the bag). Let event B blue ball chosen, R = Red ball chosen, and G- Green ball chosen. What is the probability they are both red? What is P(R and R)? Write an answer to 4 decimal places.
An analyst is presented with lists of 4 stocks and 5 bonds. He is asked to predict, in order, the 2 stocks that will yield the highest return over the next year and the 2 bonds that will have the highest return over the next year. Suppose that these predictions are made randomly and independently of each other. What is the probability that the analyst will be successful in at least 1 of the 2 tasks?
Question 2) Waiting Line Analysis A customer service desk with 1 worker is able to process an average of 9 customer inquiries per hour. An average of 6 customers arrive for help at the desk each hour. c) What is the average time required to serve a customer (in minutes)? d) What is the probability that more than 2 customers will arrive in the next hour?
H6.

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