Solve the problem.32) A contractor is considering a sale that promises a profit of $23,000 with a probability of 0.7 or a loss(due to bad weather, strikes, and such) of $13,000 with a probability of 0.3. What is the expectedprofit?A) $16,1000653D) $25,200B) $12,200C) $10,00032)22)

Given that A contractor considering a sale that promises a profit of $23000 with a probability of…

Answered: we the problem. 32) A contractor is…

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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c) A manufacturer is considering the production of a new and better mousetrap. She estimates the probability that the new mousetrap is successful is ¾. If it is successful, it would generate profits of $174,000. The development costs of the mousetrap are $121,000. Should the manufacturer proceed with plans for the new mousetrap? Why or why not?
Random vector (X,Y)', where X and Y are independent random variables: (picture) Determine F(x,y) for (x,y) € (1,2) x (0,2) Determine P(2X > 4 - Y) Please be more specific in solution, si I can better understand the topic. Thanks a lot.
4. The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $5 each and will sell 700 tickets. There is one $2,000 grand prize, three $400 second prizes, and twelve $40 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.
The odds in favor of Frank McKinnis winning a hot dog eating contest are 2:7. a. Determine the probability that Frank will win the contest. b. Determine the probability that Frank will not win the contest.
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 cent
5
A lottery offers one $2000 prize, one $900 prize and five $200 prizes.One thousand tickets are sold at $5 each. Find the expectation if a person buys oneticket.
Suppose best buy offers an extended warranty for $25 on an electronic device whose value is $250. Suppose best buy estimates the probability the item will be returned for a claim on that warranty is 5%. Assume that if an item is returned, best buy will refund the $250 purchase price. What is best buys expected value on the warranty?
Provide an appropriate response. 12) A 28-year-old man pays $165 for a one-year life insurance policy with coverage of $140,000. If the probability that he will live through the year is 0.9994, what is the expected value for the insurance company?
Suppose 25% of workers in a market are willing to work for $55.000 and 75% of workers are willing to work for $63,000. The expected benetit of searching (interviewing) another worker equals S
Carlie is betting on a game in which each bet has an expected value of -$0.56. This implies A. Carlie will win $0.56 every time she plays the game. B. Carlie will lose $0.56 every time she plays the game. C. if Carlie plays the game many times, on an average Carlie should expect to lose about $0.56 each game.Is it correct answer C?
There is a 0.9985 probability that a randomly selected 30-year-old male lives through the year. A life insurance company charges $191 for insuring that the male will live through the year. If the male does not survive the year, the policy pays out $120,000 as a death benefit. Complete parts (a) through (c) below.

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we the problem. 32) A contractor is considering a sale that promises a profit of $23,000 with a probability of 0.7 or a loss (due to bad weather, strikes, and such) of $13,000 with a probability of 0.3. What is the expected profit? A) $16,1000453 B) $12,200 C) $10,000 D) $25,200 105.00. 32) 221