The following table shows the probability distribution for the number of books a student typically buys at the annual book fair held at an elementaryschool.Number ofBooks3467.Probability0.350.200.150.100.070.080.040,01Let the random variable B represent the number of books a student buys at the next book fair. If each book costs an average of $5, what is the expectedamount of money spent on books for a randomly selected student?$140.00$5.00$17.50$8.95

Probability distribution of a random variable gives the probability at each possible value of the…

Answered: The following table shows 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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An insurance company will insure a $75,000 automobile for its full value against theft by apolicy with a premium of $1,500 per year. Suppose that the probability that the automobile willbe stolen is 0.0075.a. Construct the probability distribution.b. Calculate the insurance company's expected net profit for this policy.
Let X = {Email, In Person, Instant Message, Text Message}; P(Email) = 0.06 P(In Person) = 0.55 P(Instant Message) = 0.24 P(Text Message) = 0.15 Is this model a probability distribution? A. Yes. B. No. C. Maybe.
What is the significance of the mean of a probability distribution? Choose the correct answer below. O A. It represents the most likely possible outcome. B. It is the expected value of a discrete random variable. OC. It can never be negative. OD. It gives information about how the outcomes vary.
Every business day, Michael's alarm goes off at 06:30. The probability he hits the snooze button is 20%. a. Give the discrete probability distribution for the event that Michael's alarm does or does not go off on a business day. What type of random variable is this? Explain. b. In 8 business days, what is the probability Michael hits the snooze button at least one time? c. In 80 business days, how many times would we expect Michael to hit the snooze button? What is the associated variance?
A sociologist surveyed the households in a neighboring town and recorded the number of dependent children in the household. The following probability distribution was created based on the survey. Use the probability distribution to answer the following questions x 0 1 2 3 4 P(x) 0.07 0.20 0.38 0.22 0.13 True or false. The expected number of dependent children in the household must be a whole number because it represents what we expected to get in every household
A random sample of adults was asked about their highest education level completed. The distribution of results is shown in the table. What is the probability that the highest level of education of an adult is a high school diploma, given that they have completed at least one of the education levels shown? 0.04 0.16 0.47 0.84
USA Today reported that about 20% of all people In the United States are Illiterate. Suppose you take eleven people at random off a city street. P USE SALT (a) Make a histogram showing the probability distribution of the number of illiterate people out of the eleven people in the sample. 0.30 0.30 0.25 0.25 0.20 0.20 0.15 0.15 0.10 0.10 0.05 0.05 2 3 4 5 7. 8 9 10 11 0 1 2 3 4 5 6 78 9 10 11 0.30 0.30 0.25 0.25 0.20 0.20 0.15 0.15 0.10 0.10 0.05 0.05 0. 0 1 2 3 4 5 6 7 8 9 10 11 0 1 2 3 45 6 7 8 9 10 11 (b) Find the mean and standard deviation of this probability distribution. (Round your standard deviation to two decimal places.) people people Find the expected number of people in this sample who are illiterate. people
What is the significance of the mean of a probability distribution? Choose the correct answer below. OA. It gives information about how the outcomes vary. OB. It is the expected value of a discrete random variable. OC. It can never be negative. OD. It represents the most likely possible outcome. C
Assume that 12 jurors are randomly selected from a population in which 60% of the people are Mexican-Americans. Refer to the probability distribution table below and find the indicated probabilities. Number of Mexican-Americans Probability 0 0 1 0.0003 2 0.0025 3 0.0125 4 0.042 5 0.1009 6 0.1766 7 0.227 8 0.2128 9 0.1419 10 0.0639 11 0.0174 12 0.0022 a) Find the probability of at most 4 Mexican-Americans among 12 jurors. Give answer as a decimal. b) Find the probability of more than 4 Mexican-Americans among 12 jurors. Give answer as a decimal.
The marketing department of a TV manufacturer has done research on the number of TVs owned by families in a large town. The probability model for the number of tvs owned by a randomly chosen family is given below. In the long run, what is the expected number of TVs per family? Round your answer to the nearest tenth. Number of TVs 0 1 2 3 4 Probability 0.06 0.24 0.43 0.19 0.08
Find the mean of the given probability distribution. The probabilities that a batch of 4 computers will contain 0,1,2,3, and 4 defective computers are 0.5997, 0.3271, 0.0669, 0.0061, and 0.0002,respectively. Round answer to the nearest hundredth.
Suppose you called your local pharmacy to refill a prescription and are put on hold. Assume that the amount of time you will spend on hold is somewhere between 0 and 13 minutes and it follows a uniform distribution. What is the probability you will be on hold for exactly 8 minutes?

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