Each member of a population of size n is, independently, female with probability p or male with probability 1 − p . Let X be the number of the other n − 1 members of the population that are the same sex as is person 1. (So X = n − 1 if all n people are of the same sex.) a. Find P ( X = i ) , i = 0 , ... , n − 1 . Now suppose that two people of the same sex will, independently of other pairs, be friends with probability a ; whereas two persons of opposite sexes will be friends with probability β . Find the probability mass function of the number of friends of person 1.
Each member of a population of size n is, independently, female with probability p or male with probability 1 − p . Let X be the number of the other n − 1 members of the population that are the same sex as is person 1. (So X = n − 1 if all n people are of the same sex.) a. Find P ( X = i ) , i = 0 , ... , n − 1 . Now suppose that two people of the same sex will, independently of other pairs, be friends with probability a ; whereas two persons of opposite sexes will be friends with probability β . Find the probability mass function of the number of friends of person 1.
Each member of a population of size n is, independently, female with probability p or male with probability
1
−
p
. Let X be the number of the other
n
−
1
members of the population that are the same sex as is person 1. (So
X
=
n
−
1
if all n people are of the same sex.)
a. Find
P
(
X
=
i
)
,
i
=
0
,
...
,
n
−
1
.
Now suppose that two people of the same sex will, independently of other pairs, be friends with probability
a
; whereas two persons of opposite sexes will be friends with probability
β
. Find the probability mass function of the number of friends of person 1.
Calculating probability for the Standard Normal Curve
1.
Assume the mean is zero, the standard deviation is one, and it is associated with the distribution of z values.
Each problem is worth 2 points, 1 point for drawing out the curve and shading the area requested and 1 point
for the answer.
a. What is the P(z > 0)?
b. What is the P(z < 1.0)?
C. What is the P(z <-1.0)?
Starting with the finished version of Example 6.2, attached, change the decision criterion to "maximize expected utility," using an exponential utility function with risk tolerance $5,000,000. Display certainty equivalents on the tree.
a. Keep doubling the risk tolerance until the company's best strategy is the same as with the EMV criterion—continue with development and then market if successful.
The risk tolerance must reach $ 160,000,000 before the risk averse company acts the same as the EMV-maximizing company.
b. With a risk tolerance of $320,000,000, the company views the optimal strategy as equivalent to receiving a sure $____________ , even though the EMV from the original strategy (with no risk tolerance) is $ 59,200.
Starting with the finished version of Example 6.2, attached, change the decision criterion to "maximize expected utility," using an exponential utility function with risk tolerance $5,000,000. Display certainty equivalents on the tree.
a. Keep doubling the risk tolerance until the company's best strategy is the same as with the EMV criterion—continue with development and then market if successful.
The risk tolerance must reach $ ____________ before the risk averse company acts the same as the EMV-maximizing company.
b. With a risk tolerance of $320,000,000, the company views the optimal strategy as equivalent to receiving a sure $____________ , even though the EMV from the original strategy (with no risk tolerance) is $ ___________ .
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, probability and related others by exploring similar questions and additional content below.
Discrete Distributions: Binomial, Poisson and Hypergeometric | Statistics for Data Science; Author: Dr. Bharatendra Rai;https://www.youtube.com/watch?v=lHhyy4JMigg;License: Standard Youtube License