Suppose the random variable T is the length of life of an object (possibly the lifetimeof an electrical component or of a subject given a particular treatment). The hazardfunction hr(t) associated with the random variable T is defined byhr(t) = lims-o-P(t ≤ T

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Answered: Suppose the random variable T is the…

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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A firm's revenue R is stochastically related to the effort exerted by its employee. Effort is a continuous variable. The employee can choose any level of effort e E [0, ). The choice of effort affects revenue so that: E(R|e) = e and Var(R|e) = 1 %3D where E(R|e) and V ar(R|e) denote the expected value and variance, respectively, of rev- enue when the employee exerts effort level e. The employer cannot observe the level of effort exerted by the employee. The employer wants to design a wage contract w based on the revenue and considers only contracts of the form: w-α+ βR and so the employee is guaranteed a payment a and then a bonus payment ßR which de- pends on revenue. The employee is a risk-averse expected utility maximiser. A contract w gives expected utility: Eu(w\e) = E(w\e)-eV ar(w]e) – c(e) where E(wle) and Var(wle) denote the expected value and variance of the contract, re- spectively, conditional on effort e, p is a parameter of risk aversion, and c(e) denotes the disutility of…
Total plasma volume is important in determining the required plasma component in blood replacement therapy for a person undergoing surgery. Plasma volume is influenced by the overall health and physical activity of an individual. Suppose that a random sample of 43 male firefighters are tested and that they have a plasma volume sample mean of x = 37.5 ml/kg (milliliters plasma per kilogram body weight). Assume that σ = 7.50 ml/kg for the distribution of blood plasma. (a) Find a 99% confidence interval for the population mean blood plasma volume in male firefighters. What is the margin of error? (Round your answers to two decimal places.) lower limit 1 upper limit 2 margin of error 3 (b) What conditions are necessary for your calculations? (Select all that apply.) n is large the distribution of weights is normal σ is known the distribution of weights is uniform σ is unknown (c) Interpret your results in the context of this problem. 1% of the intervals created using…
TF.8
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Let X be a Gaussian RV on with expected value (mean) E[X] = 1, Var[X] = 1. Let Y = -3(X-1). Compute the expected value of Y. QUESTION 7 Let X be a Gaussian RV on with expected value (mean) E[X] = 1, Var[X] = 1. Let Y = -3(X-1). Compute the variance of Y.
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Suppose the random variable T is the length of life of an object (possibly the lifetime of an electrical component or of a subject given a particular treatment). The hazard function hr(t) associated with the random variable T is defined by hr(t) = lims-o- P(t ≤ T