The following table is a partial probability distribution for the MRA Company's projected profits (x = profit in $1,000s) for the first year of operation (the negative value denotes a loss). x f(x) −100 0.10 0 0.25 50 0.30 100 0.20 150 0.10 200 (a) What is the proper value for f(200)? f(200) = What is your interpretation of this value? This is the that the MRA will have a $200,000 profit. (b) What is the probability that MRA will be profitable? (c) What is the probability that MRA will make at least $100,000? .
The following table is a partial probability distribution for the MRA Company's projected profits (x = profit in $1,000s) for the first year of operation (the negative value denotes a loss). x f(x) −100 0.10 0 0.25 50 0.30 100 0.20 150 0.10 200 (a) What is the proper value for f(200)? f(200) = What is your interpretation of this value? This is the that the MRA will have a $200,000 profit. (b) What is the probability that MRA will be profitable? (c) What is the probability that MRA will make at least $100,000? .
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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6
The following table is a partial probability distribution for the MRA Company's projected profits
(x = profit in $1,000s)
for the first year of operation (the negative value denotes a loss).x |
f(x)
|
---|---|
−100 | 0.10 |
0 | 0.25 |
50 | 0.30 |
100 | 0.20 |
150 | 0.10 |
200 |
(a)
What is the proper value for
f(200)?
f(200) =
What is your interpretation of this value?
This is the that the MRA will have a $200,000 profit.
(b)
What is the probability that MRA will be profitable?
(c)
What is the probability that MRA will make at least $100,000?
.
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