How is the answer of 3a - 3f 3. The management of a bank must decide whether to install a commercial loan decision-support system(an on-line management information system) to aid its analysts in making commercial loan decisions.Pat experience shows that yı, the additional number (per year) of correct loan decisions – acceptinggood loan applications and rejecting those that would eventually be defaulted - attributable to thedecision-support system, and y2, the lifetime (in years) of the decision-support system, have the jointprobability distribution shown in the table :YıY210203040506070809010.0010.0020.0020.0250.040 | 0.025 0.0050.00520.0050.0050.010| 0.0750.100 | 0.075 0.0500.030 | 0.030 0.02530.0250.050 | 0.080 0.050| 0.0800.0400.03040.0010.002 0.0050.010 0.025 0.0100.0030.0010.0010.0020.005 0.005 0.020| 0.030 0.015find the marginal probability distribution of yı and also y2.а.b. Find the probability distribution p¡(yıly2)Given the decision-support system is in its third year of operation, find the probability that at least40 additional correct loan decisions will be madec.d.Find the expected lifetime of the decision-support system, i.e., find E(y2)Are y, and y2 correlated? Are yı and y2 independent?е.f.Each correct loan decision contributes approximately $25,000 to the bank's profit. Compute themean and standars deviation of the additional profit attributable to the decision-support system.

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The management of a bank must decide whether to install a commercial loan decision-support system (an on-line management information system) to aid its analysts in making commercial loan decisions. Pat experience shows that yı, the additional number (per year) of correct loan decisions – accepting good loan applications and rejecting those that would eventually be defaulted – attributable to the decision-support system, and y2, the lifetime (in years) of the decision-support system, have the joint probability distribution shown in the table : Yı Y2 10 20 30 40 50 60 70 80 90 1 0.001 0.002 0.002 | 0.025 0.040| 0.025 0.005 | 0.005 0 0.075 010 0.070

The management of a bank must decide whether to install a commercial loan decision-support system (an on-line management information system) to aid its analysts in making commercial loan decisions. Pat experience shows that yı, the additional number (per year) of correct loan decisions – accepting good loan applications and rejecting those that would eventually be defaulted – attributable to the decision-support system, and y2, the lifetime (in years) of the decision-support system, have the joint probability distribution shown in the table : Yı Y2 10 20 30 40 50 60 70 80 90 1 0.001 0.002 0.002 | 0.025 0.040| 0.025 0.005 | 0.005 0 0.075 010 0.070

A First Course in Probability (10th Edition)

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Author:Sheldon Ross

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Chapter1: Combinatorial Analysis

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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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How is the answer of 3a - 3f

3. The management of a bank must decide whether to install a commercial loan decision-support system
(an on-line management information system) to aid its analysts in making commercial loan decisions.
Pat experience shows that yı, the additional number (per year) of correct loan decisions – accepting
good loan applications and rejecting those that would eventually be defaulted - attributable to the
decision-support system, and y2, the lifetime (in years) of the decision-support system, have the joint
probability distribution shown in the table :
Yı
Y2
10
20
30
40
50
60
70
80
90
1
0.001
0.002
0.002
0.025
0.040 | 0.025 0.005
0.005
2
0.005
0.005
0.010| 0.075
0.100 | 0.075 0.050
0.030 | 0.030 0.025
3
0.025
0.050 | 0.080 0.050| 0.080
0.040
0.030
4
0.001
0.002 0.005
0.010 0.025 0.010
0.003
0.001
0.001
0.002
0.005 0.005 0.020| 0.030 0.015
find the marginal probability distribution of yı and also y2.
а.
b. Find the probability distribution p¡(yıly2)
Given the decision-support system is in its third year of operation, find the probability that at least
40 additional correct loan decisions will be made
c.
d.
Find the expected lifetime of the decision-support system, i.e., find E(y2)
Are y, and y2 correlated? Are yı and y2 independent?
е.
f.
Each correct loan decision contributes approximately $25,000 to the bank's profit. Compute the
mean and standars deviation of the additional profit attributable to the decision-support system.

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