Homework Help is Here – Start Your Trial Now!
Math
Probability
wrong ones

wrong ones

A First Course in Probability (10th Edition)
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...
See similar textbooks
icon
Related questions
Question
100%
just the wrong ones
-genius.mrooms.net/mod/quiz/review.php?attempt3D10528063&cmid%3D1303386#question-10601031-3 dback View my feedback Expected Value A tree cutting business has an insurance policy to cover any damages caused during the tree cutting process. The business pays an annual premium of $1,500 for a policy that covers up to $500,000 in damages. The probability of a tree causing damage is 0.002. What is the expected value? The expected value is 1000 That means the tree cutting company can expect to lose v $ 500 on average, per year. Mathematically, would this be considered a "fair" deal between the insurance company and the tree-cutting business? No : Binomial Random Variable According to the CDC, in 2015 15% of high school students rode with a driver (in the last 30 days) who had been drinking alcohol. A random sample 12 high school students was chosen. Assume the distribution is normal. Use the Binomial Distribution Table (PDF, 739 KB) (opens in new window) to find the probabilities. Please note, this question is specifically assessing your ability to use the table to find the probability You may get a slightly different answer due to rounding if vou use a calculator or other
Transcribed Image Text:-genius.mrooms.net/mod/quiz/review.php?attempt3D10528063&cmid%3D1303386#question-10601031-3 dback View my feedback Expected Value A tree cutting business has an insurance policy to cover any damages caused during the tree cutting process. The business pays an annual premium of $1,500 for a policy that covers up to $500,000 in damages. The probability of a tree causing damage is 0.002. What is the expected value? The expected value is 1000 That means the tree cutting company can expect to lose v $ 500 on average, per year. Mathematically, would this be considered a "fair" deal between the insurance company and the tree-cutting business? No : Binomial Random Variable According to the CDC, in 2015 15% of high school students rode with a driver (in the last 30 days) who had been drinking alcohol. A random sample 12 high school students was chosen. Assume the distribution is normal. Use the Binomial Distribution Table (PDF, 739 KB) (opens in new window) to find the probabilities. Please note, this question is specifically assessing your ability to use the table to find the probability You may get a slightly different answer due to rounding if vou use a calculator or other
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
Probability
ISBN:
9780134753119
Author:
Sheldon Ross
Publisher:
PEARSON
A First Course in Probability
A First Course in Probability
Probability
ISBN:
9780321794772
Author:
Sheldon Ross
Publisher:
PEARSON
SEE MORE TEXTBOOKS