Let A and B be events having positive probability . State whether each of the following statements is (i) necessarily true. (ii) necessarily false, or (iii) possibly true. a. If A and B are mutually exclusive, then they are independent. b. If A and B are independent, then they are mutually exclusive. c. P ( A ) = P ( B ) = .6 , and A and B are mutually exclusive. d. P ( A ) = P ( B ) = .6 , and A and B are independent.
Let A and B be events having positive probability . State whether each of the following statements is (i) necessarily true. (ii) necessarily false, or (iii) possibly true. a. If A and B are mutually exclusive, then they are independent. b. If A and B are independent, then they are mutually exclusive. c. P ( A ) = P ( B ) = .6 , and A and B are mutually exclusive. d. P ( A ) = P ( B ) = .6 , and A and B are independent.
Solution Summary: The author states if the given statement is necessarily true, necessary false or possibly true. If A and B are mutually exclusive, then they are independent.
Let A and B be events having positive probability. State whether each of the following statements is (i) necessarily true. (ii) necessarily false, or (iii) possibly true.
a. If A and B are mutually exclusive, then they are independent.
b. If A and B are independent, then they are mutually exclusive.
c.
P
(
A
)
=
P
(
B
)
=
.6
, and A and B are mutually exclusive.
d.
P
(
A
)
=
P
(
B
)
=
.6
, and A and B are independent.
The Martinezes are planning to refinance their home. The outstanding balance on their original loan is $150,000. Their finance company has offered them two options. (Assume there are no additional finance charges. Round your answers to the nearest cent.)
Option A: A fixed-rate mortgage at an interest rate of 4.5%/year compounded monthly, payable over a 30-year period in 360 equal monthly installments.Option B: A fixed-rate mortgage at an interest rate of 4.25%/year compounded monthly, payable over a 12-year period in 144 equal monthly installments.
(a) Find the monthly payment required to amortize each of these loans over the life of the loan.
option A $
option B $
(b) How much interest would the Martinezes save if they chose the 12-year mortgage instead of the 30-year mortgage?
The Martinezes are planning to refinance their home. The outstanding balance on their original loan is $150,000. Their finance company has offered them two options. (Assume there are no additional finance charges. Round your answers to the nearest cent.)
Option A: A fixed-rate mortgage at an interest rate of 4.5%/year compounded monthly, payable over a 30-year period in 360 equal monthly installments.Option B: A fixed-rate mortgage at an interest rate of 4.25%/year compounded monthly, payable over a 12-year period in 144 equal monthly installments.
(a) Find the monthly payment required to amortize each of these loans over the life of the loan.
option A $
option B $
(b) How much interest would the Martinezes save if they chose the 12-year mortgage instead of the 30-year mortgage?
When a tennis player serves, he gets two chances to serve in bounds. If he fails to do so twice, he loses the point. If he
attempts to serve an ace, he serves in bounds with probability 3/8.If he serves a lob, he serves in bounds with probability
7/8. If he serves an ace in bounds, he wins the point with probability 2/3. With an in-bounds lob, he wins the point with
probability 1/3. If the cost is '+1' for each point lost and '-1' for each point won, the problem is to determine the optimal
serving strategy to minimize the (long-run)expected average cost per point. (Hint: Let state 0 denote point over,two
serves to go on next point; and let state 1 denote one serve left.
(1). Formulate this problem as a Markov decision process by identifying the states and decisions and then finding the
Cik.
(2). Draw the corresponding state action diagram.
(3). List all possible (stationary deterministic) policies.
(4). For each policy, find the transition matrix and write an expression for the…
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