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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Question

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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