Richard has just been given a 4-question multiple-choice quiz in his history class. Each question has five answers, of which only one is correct. Since Richard has not attended class recently, hedoesn't know any of the answers. Assuming that Richard guesses on all four questions, find the indicated probabilities. (Round your answers to three decimal places.)(a) What is the probability that he will answer all questions correctly?(b) What is the probability that he will answer all questions incorrectly?(c) What is the probability that he will answer at least one of the questions correctly? Compute this probability two ways. First, use the rule for mutually exclusive events and the probabilities shownin the binomial probability distribution table.Then use the fact that P(r ≥ 1) = 1 - P(r = 0).Compare the two results. Should they be equal? Are they equal? If not, how do you account for the difference?O They should be equal, but differ substantially.O They should be equal, but may not be due to table error.O They should be equal, but may differ slightly due to rounding error.O They should not be equal, but are equal.(d) What is the probability that Richard will answer at least half the questions correctly?

There are 4 questions. So, Each question has 5 answers, of which only one is correct.Probbaility of…

Answered: Richard has just been given a…

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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You purchase a brand new car for $17,000 and insure it. The policy pays 78% of the car's value if there is an issue with the engine or 30% of the car's value if there is an issue with the speaker system. The probability of an issue with the engine is 0.009, and the probability there is an issue with the speaker system is 0.02. The premium for the policy is p. Let X be the insurance company's net gain from this policy. (a) Create a probability distribution for X, using p to represent the premium on the policy. Enter the possible values of X in ascending order from left to right. X P(X)
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You purchase a brand new car for $15,000 and insure it. The policy pays 78% of the car's value if there is an issue with the engine or 30% of the car's value if there is an issue with the speaker system. The probability of an issue with the engine is 0.009, and the probability there is an issue with the speaker system is 0.02. The premium for the policy is p. Let X be the insurance company's net gain from this policy. (a) Create a probability distribution for X, using p to represent the premium on the policy. Enter the possible values of X in ascending order from left to right. P(X) (b) Compute the minimum amount the insurance company will charge for this policy. Round your answer to the nearest cent
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