Question 7 Santino has purchased the 2-year extended warranty from a retailer to cover the value of his new appliance in case if it gets damaged or becomes inoperable for the price of $25. Santino's appliance is worth $1300 and the probability that it gets damaged or becomes inoperable during the length of the extended warranty is estimated to be 2%. Let X be the retailer's profit from selling the extended warranty. Answer the following questions: 1. Create the probability distribution table for X: X outcome a. E[X] = μx: b. SD[X]=ox profit æ,$ P(X= x) the appliance gets damaged or becomes inoperable no claim filed 2. Use the probability distribution table to find the following: dollars. (Round the answer to 1 decimal place.) dollars. (Round the answer to 1 decimal place.)
Question 7 Santino has purchased the 2-year extended warranty from a retailer to cover the value of his new appliance in case if it gets damaged or becomes inoperable for the price of $25. Santino's appliance is worth $1300 and the probability that it gets damaged or becomes inoperable during the length of the extended warranty is estimated to be 2%. Let X be the retailer's profit from selling the extended warranty. Answer the following questions: 1. Create the probability distribution table for X: X outcome a. E[X] = μx: b. SD[X]=ox profit æ,$ P(X= x) the appliance gets damaged or becomes inoperable no claim filed 2. Use the probability distribution table to find the following: dollars. (Round the answer to 1 decimal place.) dollars. (Round the answer to 1 decimal place.)
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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![Question 7
Santino has purchased the 2-year extended warranty from a retailer to cover the value of his new
appliance in case if it gets damaged or becomes inoperable for the price of $25. Santino's appliance is
worth $1300 and the probability that it gets damaged or becomes inoperable during the length of the
extended warranty is estimated to be 2%. Let X be the retailer's profit from selling the extended
warranty. Answer the following questions:
1. Create the probability distribution table for X:
X
outcome
a. E[X] = μx
b. SD[X] = 0X
profit ,$ P(X= x)
the appliance gets damaged or
becomes inoperable
no claim filed
2. Use the probability distribution table to find the following:
dollars. (Round the answer to 1 decimal place.)
dollars. (Round the answ
nswer to 1 decimal place.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fcc61e6f9-1283-4c33-8aac-5d95a690c4e7%2F3b07e914-22ac-4250-9307-d43d065e6ffa%2Fsh8qiwp_processed.png&w=3840&q=75)
Transcribed Image Text:Question 7
Santino has purchased the 2-year extended warranty from a retailer to cover the value of his new
appliance in case if it gets damaged or becomes inoperable for the price of $25. Santino's appliance is
worth $1300 and the probability that it gets damaged or becomes inoperable during the length of the
extended warranty is estimated to be 2%. Let X be the retailer's profit from selling the extended
warranty. Answer the following questions:
1. Create the probability distribution table for X:
X
outcome
a. E[X] = μx
b. SD[X] = 0X
profit ,$ P(X= x)
the appliance gets damaged or
becomes inoperable
no claim filed
2. Use the probability distribution table to find the following:
dollars. (Round the answer to 1 decimal place.)
dollars. (Round the answ
nswer to 1 decimal place.)
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