PROBABILITY & STATS FOR ENGINEERING &SCI
9th Edition
ISBN: 9781285099804
Author: DEVORE
Publisher: CENGAGE L
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Chapter 2.4, Problem 59E
At a certain gas station, 40% of the customers use regular gas (A1), 35% use plus gas (A2), and 25% use premium (A3). Of those customers using regular gas, only 30% fill their tanks (
- a. What is the
probability that the next customer will request plus gas and fill the tank (A2 ∩ B)? - b. What is the probability that the next customer fills the tank?
- c. If the next customer fills the tank, what is the probability that regular gas is requested? Plus? Premium?
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Note: The purpose of this problem below is to use computational techniques (Excelspreadsheet, Matlab, R, Python, etc.) and code the dynamic programming ideas seen inclass. Please provide the numerical answer to the questions as well as a sample of yourwork (spreadsheet, code file, etc.).We consider an N-period binomial model with the following properties: N = 60, thecurrent stock price is S0 = 1000; on each period, the stock price increases by 0.5% whenit moves up and decreases by 0.3% when it moves down. The annual interest rate on themoney market is 5%. (Notice that this model is a CRR model, which means that thebinomial tree is recombining.)(a) Find the price at time t0 = 0 of a (European) call option with strike price K = 1040and maturity T = 1 year.(b) Find the price at time t0 = 0 of a (European) put option with strike price K = 1040and maturity T = 1 year.(c) We consider now, that you are at time t5 (i.e. after 5 periods, which represents 1month later). Assume that the stock…
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Chapter 2 Solutions
PROBABILITY & STATS FOR ENGINEERING &SCI
Ch. 2.1 - Four universities1, 2, 3, and 4are participating...Ch. 2.1 - Suppose that vehicles taking a particular freeway...Ch. 2.1 - Three components are connected to form a system as...Ch. 2.1 - Each of a sample of four home mortgages is...Ch. 2.1 - A family consisting of three personsA, B, and...Ch. 2.1 - A college library has five copies of a certain...Ch. 2.1 - An academic department has just completed voting...Ch. 2.1 - An engineering construction firm is currently...Ch. 2.1 - Use Venn diagrams to verify the following two...Ch. 2.1 - a. In Example 2.10, identify three events that are...
Ch. 2.2 - A mutual fund company offers its customers a...Ch. 2.2 - Consider randomly selecting a student at a large...Ch. 2.2 - A computer consulting firm presently has bids out...Ch. 2.2 - Suppose that 55% of all adults regularly consume...Ch. 2.2 - Consider the type of clothes dryer (gas or...Ch. 2.2 - An individual is presented with three different...Ch. 2.2 - Let A denote the event that the next request for...Ch. 2.2 - A wallet contains five 10 bills, four 5 bills, and...Ch. 2.2 - Human visual inspection of solder joints on...Ch. 2.2 - A certain factory operates three different shifts....Ch. 2.2 - An insurance company offers four different...Ch. 2.2 - The route used by a certain motorist in commuting...Ch. 2.2 - The computers of six faculty members in a certain...Ch. 2.2 - Show that if one event A is contained in another...Ch. 2.2 - The three most popular options on a certain type...Ch. 2.2 - A certain system can experience three different...Ch. 2.2 - An academic department with five faculty members...Ch. 2.2 - In Exercise 5, suppose that any incoming...Ch. 2.3 - As of April 2006, roughly 50 million .com web...Ch. 2.3 - A friend of mine is giving a dinner party. His...Ch. 2.3 - The composer Beethoven wrote 9 symphonies, 5 piano...Ch. 2.3 - An electronics store is offering a special price...Ch. 2.3 - Again consider a Little League team that has 15...Ch. 2.3 - Computer keyboard failures can be attributed to...Ch. 2.3 - A production facility employs 10 workers on the...Ch. 2.3 - An academic department with five faculty members...Ch. 2.3 - An experimenter is studying the effects of...Ch. 2.3 - A sonnet is a 14-line poem in which certain...Ch. 2.3 - A box in a supply room contains 15 compact...Ch. 2.3 - Three molecules of type A, three of type B, three...Ch. 2.3 - An ATM personal identification number (PIN)...Ch. 2.3 - A starting lineup in basketball consists of two...Ch. 2.3 - In five-card poker, a straight consists of five...Ch. 2.3 - Show that (nk)=(nnk). Give an interpretation...Ch. 2.4 - The population of a particular country consists of...Ch. 2.4 - Suppose an individual is randomly selected from...Ch. 2.4 - Return to the credit card scenario of Exercise 12...Ch. 2.4 - Reconsider the system defect situation described...Ch. 2.4 - The accompanying table gives information on the...Ch. 2.4 - A department store sells sport shirts in three...Ch. 2.4 - According to a July 31, 2013, posting on cnn.com...Ch. 2.4 - A system consists of two identical pumps, #1 and...Ch. 2.4 - A certain shop repairs both audio and video...Ch. 2.4 - In Exercise 13, Ai = {awarded project i}, for i =...Ch. 2.4 - Deer ticks can be carriers of either Lyme disease...Ch. 2.4 - For any events A and B with P(B) 0, show that...Ch. 2.4 - If P(B|A) P(B), show that P(B|A) P(B). [Hint:...Ch. 2.4 - Show that for any three events A, B, and C with...Ch. 2.4 - At a certain gas station, 40% of the customers use...Ch. 2.4 - Seventy percent of the light aircraft that...Ch. 2.4 - Components of a certain type are shipped to a...Ch. 2.4 - Blue Cab operates 15% of the taxis in a certain...Ch. 2.4 - For customers purchasing a refrigerator at a...Ch. 2.4 - The Reviews editor for a certain scientific...Ch. 2.4 - A large operator of timeshare complexes requires...Ch. 2.4 - Consider the following information about travelers...Ch. 2.4 - There has been a great deal of controversy over...Ch. 2.4 - A friend who lives in Los Angeles makes frequent...Ch. 2.4 - In Exercise 59, consider the following additional...Ch. 2.5 - Reconsider the credit card scenario of Exercise 47...Ch. 2.5 - An oil exploration company currently has two...Ch. 2.5 - In Exercise 13, is any Ai independent of any other...Ch. 2.5 - If A and B are independent events, show that A and...Ch. 2.5 - The proportions of blood phenotypes in the U.S....Ch. 2.5 - One of the assumptions underlying the theory of...Ch. 2.5 - In October, 1994, a flaw in a certain Pentium chip...Ch. 2.5 - An aircraft seam requires 25 rivets. The seam will...Ch. 2.5 - A boiler has five identical relief valves. The...Ch. 2.5 - Two pumps connected in parallel fail independently...Ch. 2.5 - Consider the system of components connected as in...Ch. 2.5 - Refer back to the series-parallel system...Ch. 2.5 - Consider independently rolling two fair dice, one...Ch. 2.5 - Components arriving at a distributor are checked...Ch. 2.5 - Prob. 84ECh. 2.5 - A quality control inspector is examining newly...Ch. 2.5 - a. A lumber company has just taken delivery on a...Ch. 2.5 - Consider randomly selecting a single individual...Ch. 2.5 - The probability that an individual randomly...Ch. 2.5 - Suppose identical tags are placed on both the left...Ch. 2 - A certain legislative committee consists of 10...Ch. 2 - A factory uses three production lines to...Ch. 2 - An employee of the records office at a certain...Ch. 2 - One satellite is scheduled to be launched from...Ch. 2 - A transmitter is sending a message by using a...Ch. 2 - Individual A has a circle of five close friends...Ch. 2 - According to the article Optimization of...Ch. 2 - A chemical engineer is interested in determining...Ch. 2 - Prob. 98SECh. 2 - Fasteners used in aircraft manufacturing are...Ch. 2 - Jay and Maurice are playing a tennis match. In one...Ch. 2 - A system consists of two components. The...Ch. 2 - The accompanying table categorizing each student...Ch. 2 - a. A certain company sends 40% of its overnight...Ch. 2 - A company uses three different assembly linesA1,...Ch. 2 - Disregarding the possibility of a February 29...Ch. 2 - One method used to distinguish between granitic...Ch. 2 - A subject is allowed a sequence of glimpses to...Ch. 2 - In a Little League baseball game, team As pitcher...Ch. 2 - Four engineers, A, B, C, and D, have been...Ch. 2 - A particular airline has 10 a.m. flights from...Ch. 2 - Consider four independent events A1, A2, A3, and...Ch. 2 - A box contains the following four slips of paper,...Ch. 2 - Show that if A1, A2, and A3 are independent...
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