STAT. TECH. IN BUSINESS + ECON LOOSELEAF
STAT. TECH. IN BUSINESS + ECON LOOSELEAF
18th Edition
ISBN: 9781264261765
Author: Lind
Publisher: MCG
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Chapter 20, Problem 7E
To determine

Find the expected value of perfect information.

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The height of the graph of the probability density function f(x) varies with X as follows (round to four decimal places): X 16 Height of the Graph of the Probability Density Function You are flying out of Terminal 3 at JFK on a Wednesday afternoon between 3:00 and 4:00 PM. You get stuck in a traffic jam on the way to the airport, and if it takes you longer than 12 minutes to clear security, you'll miss your flight. The probability that you'll miss your flight is You have arrived at the airport and have been waiting 10 minutes at the security checkpoint. Recall that if you spend more than 12 minutes clearing security, you will miss your flight. Now what is the probability that you'll miss your flight? ○ 0.5 O 0.25 ○ 0.8333 ○ 0.6667
onsider a random variable x that follows a uniform distribution, with a = 2 and b = 9. What is the probability that x is less than 6? P(x < 6) = 0.2857   P(x < 6) = 0.5714   P(x < 6) = 0.17142   P(x < 6) = 0.4286     What is the probability that x is between 4 and 6? P(4 ≤ x ≤ 6) = 0.2857   P(4 ≤ x ≤ 6) = 0.157135   P(4 ≤ x ≤ 6) = 0.0928525   P(4 ≤ x ≤ 6) = 0.11428
Consider a random variable x that follows a uniform distribution, with a = 8 and b = 14. What is the probability that x is less than 13? P(x < 13) = 0.1667   P(x < 13) = 0.41665   P(x < 13) = 0.24999   P(x < 13) = 0.8333     What is the probability that x is between 11 and 12? P(11 ≤ x ≤ 12) = 0.0541775   P(11 ≤ x ≤ 12) = 0.1667   P(11 ≤ x ≤ 12) = 0.06668   P(11 ≤ x ≤ 12) = 0.091685
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