Question: What is the probability for state of nature Event A (x) at which you are indifferent between the twodecisions?O 0.70.3O 0.5O 0.6O 0.4 Please refer to the decision tree below and answer the following question.Note: You want to maximize your expected value.DecisionChoice 1$0Choice 2$0Event A$1,000Event B$500Event A$1,300Event B$300X1-X1-X

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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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The probability that a randomly selected box of a certain type of cereal has a particular prize is 0.1. Suppose you purchase box after box until you have obtained two of these prizes. (a) What is the probability that you purchase x boxes that do not have the desired prize? O h(x; 2, 0.1) O nb(x; 2, 0.1) O b(x; 2, 0.1) O h(x; 2, 1, 10) O b(x; 2, 1, 10) O nb(x; 2, 1, 10) (b) What is the probability that you purchase four boxes? (Round your answer to four decimal places.) (c) What is the probability that you purchase at most four boxes? (Round your answer to four decimal places.) (d) How many boxes without the desired prize do you expect to purchase? How many boxes do you expect to purchase?
1. A probability distribution is made by a school to record the number of phone calls from parents they receive per day. It is illustrated below. X: P(X) P(X) X-H (X – µ)? P(X)·(X – µ)? 5 0.15 6 0.15 0.9 -1 1 0.15 7 0.4 0.15 1.2 1 0.15 9 0.15 a) Construct a histogram that would best represent the probability distribution. b) Compute the expected number of phone calls from parents received per day. c) Complete the table above and find the variance and standard deviation. d) What is the probability of receiving more than 6 phone calls? e) What is the probability of receiving at most 7 phone calls?
A city ward consists of 200 registered voters of whom 75 are registered Republicans and 125 are registered with other parties. On voting day, n = 10 people are selected at random for an exit poll in this ward. (a) What is the probability distribution, p(x), for x, the number of Republicans in the poll? (Round your answers to five decimal places.) X 0 1 2 4 LO 5 7 8 10 L p(x) X X x x X X X X X X X X (b) Find p(10). (Round your answer to five decimal places.) X (c) Find p(0). (Round your answer to five decimal places.) X
4. The number of students entering in the canteen at any given hour is represented by a random variable X. 40 50 70 80 X P(x) 60 0.1 0.2 0.4 0.1 0.2 Find the probability that at least 50 students enter in the canteen.
If X is a random variable with a probability distribution function as ģiven in the following table, then E(x?) is x -2 -1 2 3 f(x) 0.2 0.4 0.3 0.1 O a.24 O b. 1.2 О с. 33 Od. 0.01 Noxt a ea
The following is a probability distribution for the number of Mexican-American jurors, X, on a 12 person jury. The jury was randomly selected from a population in which 70% of the people are Mexican-Americans. 1 2 3 4 5 6 7 8 9. 10 11 12 X P(X= x) 0.000 0.000 0.0000.001 0.008| 0.029 0.0790.158 0.231 0.240 0.168 0.071|0.014 a. Use the special addition rule and the probability distribution to determine P(X > 5). P(X 2 5) =O b. Use the special addition rule and the probability distribution to determine P(X= 3). P(X= 3) = ]
Please solve this question in probability and statistics
A random variable X has the probability function as given in the table below. Suppose the experiment associated with X is performed 1000 times, and after each experiment we record the outcome of the experiment X = 1, 2, or 3 to obtain the sample X1,.,X1000. What is the expected value of: n E Xi i=1 P(X) 1 0.6 0.3 0.1 2. 3.
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Let y denote the number of broken eggs in a randomly selected carton of one dozen eggs. Suppose that the probability distribution of y is as follows. y 0 1 2 3 4 p(y) 0.63 0.19 0.11 0.05 ? (a) Only y values of 0, 1, 2, 3, and 4 have positive probabilities. What is p(4)? (Hint: Consider the properties of a discrete probability distribution.) p(4) = Calculate P(y ≤ 2), the probability that the carton contains at most two broken eggs. P(y ≤ 2) = Calculate P(y < 2), the probability that the carton contains fewer than two broken eggs. P(y < 2) =
Jim has a 5-year-old car in reasonably good condition. He wants to take out a $20,000 term (that is, accident benefit) car insurance policy until the car is 10 years old. Assume that the probability of a car having an accident in the year in which it is x years old is as follows: x = age 5 6 7 8 9 P(accident) 0.01182 0.01282 0.01386 0.01513 0.01602 Jim is applying to a car insurance company for his car insurance policy. If the car insurance company wants to make a profit of $700 above the expected total losses of $1393, how much should it charge for the policy? Group of answer choices $701 $693 $713 $703 $705
"A _________ is a probability distribution of all possible values of a sample derived from samples of the same size, drawn from the same population. What is being defined here? That is, what term should fill in the blank?

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Question: What is the probability for state of nature Event A (x) at which you are indifferent between the two decisions? O 0.7 0.3 O 0.5 O 0.6 O 0.4