The linear probability model contains heteroskedasticity unless a. all the slope parameters are positive b. all the slope parameters are zero c. the intercept parameter is zero d. the independent variables are binary
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- Consider an M/M/1 queueing system. Find the probability of finding at least n customers in the system.A probability distribution gives the possible values of the random variable and the probabilities of each random variable. Probabilities have to be between 0 and 1. The sum of all the probabilities has to be 1. Additionally, the different values for the random variable are disjoint possibilities. In other words P(Xa and X - b) = 0 if a and b are different outcomes. Fill in the missing value for the probability distribution. P(X) 0.151 X 3 4 5 What is P(X-6)? 0.04 0.026 ?Suppose a person is thinking about entering a MarioKart competition at theirlocal videogame store. The competition costs 20 dollars to enter. The competition consists of 10 matches. The person knows that their chance of winning each match is 65% and that each match is independent of the others. The payout for the competition is: WIN ALL 10 Matches: 500 Dollar Prize WIN 9 Matches: 250 Dollar PrizeWIN 8 Matches: 50 Dollar Prize OTHERWISE: Nothing 1) Suppose that this person enters the competition 5 times.What is the probability they break even?(Hint: To break even they would need to win the $50 prize twice and lose the other three times. Use a modified binomial to calculate this probability.)
- A investor estimates that, in a year’s time, a certain stock has a 30% chance to be worth $125 per share, a 45% chance to be worth $90 per share, and a 25% chance to be worth$60 per share. Determine the expectation of the price per share of the stock in a year’s time.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 centThe probability of an integrated circuit passing a quality test is F. In a batch of 10 integrated circuits find the probabilities thati. 2 will failii. 8 will passiii. at least 2 will failiv. fewer than 2 will fail.
- Dace is a political analyst for a presidential candidate (Aspirant A) with two strong competitors (Aspirants B and C). She analyzed that B and C have exactly the same chance of winning a seat while A has twice the chance of either B and C. With the given information, what is the chance of A in winning.Becky and Carla take an advanced yoga class. Becky can hold 29% of her poses for over a minute, while Carla can hold 35% of her poses for over a minute. Suppose each yoga student is asked to hold 50 poses. Let B the proportion of poses Becky can hold for over a minute and C = the proportion of poses Carla can hold for over a minute. What is the probability that Becky's proportion of poses held for over a minute is greater than Carla's? Find the z-table here. O 0.159 O 0,259 0 0.448 O 0,741 Save and Exit Next Submit Math and rem 96 & 7 8 9. 10Suppose an oil company is thinking of buying some land for $10,000,000. There is a 60%60% chance of economic growth and a 40%40% chance of recession. The probability of discovering oil is 44%44% when there is economic growth and 32%32% when there is a recession. If there is economic growth and the oil company discovers oil, the value of the land will triple. If they do not discover oil, the value of the land will decrease by 10%.10%. If there is a recession and the company discovers oil, the value of the land will increase by 50%.50%. If they do not discover oil, the land will decrease in value by 75%.75%. What is the expected value of the investment? Give your answer to the nearest dollar. Avoid rounding within calculations. $$ Select the correct interpretation of the expected value. The expected value represents what the actual investment value will be for this land purchase of $10,000,000. The company should make the investment because the expected value…
- Find P(A or B or C) for the given probabilities. P(A) = 0.34, P(B) = 0.25, P(C) = 0.16 P(A and B) = 0.11, P(A and C) = 0.03, P(B and C) = 0.07 P(A and B and C) = 0.01 P(A or B or C) =At the beginning of each day, a patient in the hospital is classifed into one of the three conditions: good, fair or critical. At the beginning of the next day, the patient will either still be in the hospital and be in good, fair or critical condition or will be discharged in one of three conditions: improved, unimproved, or dead. The transistion probabilities for this situation are Good Fair Critical Good 0.65 0.20 0.05 Fair 0.50 0.30 0.12 Critical 0.51 0.25 0.20 Improved Unimproved Dead Good 0.06 0.03 0.01 Fair 0.03 0.02 0.03 Critical 0.01 0.01 0.02 For example a patient who begins the day in fair condition has a 12% chance of being in critical condition the next day and a 3%…H6.