Finite Mathematics for the Managerial, Life, and Social Sciences-Custom Edition
11th Edition
ISBN: 9781305283831
Author: Tan
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Concept explainers
Videos
Question
Chapter 8.3, Problem 36E
To determine
To find:
The mean and the standard deviation of the voting-age population who casts ballots in presidential elections from
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
1. Consider the following preference ballots:
Number of voters
Rankings 6 5 4 2
1st choice A DCB
DC
2nd choice B B D
3rd choice DCBD
4th choice CA
AAA
For each of the four voting systems we have studied, determine who would win the election
in each case. (Remember: For plurality with runoff, all but the top two vote-getters are
simultaneously eliminated at the end of round 1.)
Practice
k Help
ises
A
96
Anewer The probability that you get a sum of at least 10 is
Determine the number of ways that the specified event can occur when
two number cubes are rolled.
1. Getting a sum of 9 or 10
3. Getting a sum less than 5
2. Getting a sum of 6 or 7
4. Getting a sum that is odd
Tell whether you would use the addition principle or the multiplication
principle to determine the total number of possible outcomes for the
situation described.
5. Rolling three number cubes
6. Getting a sum of 10 or 12 after rolling three number cubes
A set of playing cards contains four groups of cards designated by color
(black, red, yellow, and green) with cards numbered from 1 to 14 in each
group. Determine the number of ways that the specified event can occur
when a card is drawn from the set.
7. Drawing a 13 or 14
9. Drawing a number less than 4
8. Drawing a yellow or green card
10. Drawing a black, red, or green car
The spinner is divided into equal parts.
Find the specified…
Problem 1.We consider a two-period binomial model with the following properties: each period lastsone (1) year and the current stock price is S0 = 4. On each period, the stock price doubleswhen it moves up and is reduced by half when it moves down. The annual interest rateon the money market is 25%.
We consider four options on this market: A European call option with maturity T = 2 years and strike price K = 5; A European put option with maturity T = 2 years and strike price K = 5; An American call option with maturity T = 2 years and strike price K = 5; An American put option with maturity T = 2 years and strike price K = 5.(a) Find the price at time 0 of both European options.(b) Find the price at time 0 of both American options. Compare your results with (a)and comment.(c) For each of the American options, describe the optimal exercising strategy.(d) We assume that you sell the American put to a market participant A for the pricefound in (b). Explain how you act on the market…
Chapter 8 Solutions
Finite Mathematics for the Managerial, Life, and Social Sciences-Custom Edition
Ch. 8.1 - What is a random variable? Give an example.Ch. 8.1 - Prob. 2CQCh. 8.1 - Prob. 3CQCh. 8.1 - Three balls are selected at random without...Ch. 8.1 - 2.A coin is tossed four times. Let the random...Ch. 8.1 - A die is rolled repeatedly until a 6 falls...Ch. 8.1 - Cards are selected one at a time without...Ch. 8.1 - Prob. 5ECh. 8.1 - Prob. 6ECh. 8.1 - Prob. 7E
Ch. 8.1 - Prob. 8ECh. 8.1 - Prob. 9ECh. 8.1 - In Exercises 7-12, give the range of values that...Ch. 8.1 - Prob. 11ECh. 8.1 - Prob. 12ECh. 8.1 - Prob. 13ECh. 8.1 - Prob. 14ECh. 8.1 - In Exercises 13-16, determine whether the table...Ch. 8.1 - Prob. 16ECh. 8.1 - Prob. 17ECh. 8.1 - In Exercises 17-18, find conditions on the numbers...Ch. 8.1 - Prob. 19ECh. 8.1 - Prob. 20ECh. 8.1 - Prob. 21ECh. 8.1 - EXAMS An examination consisting of ten...Ch. 8.1 - Two dice are rolled. Let the random variable X...Ch. 8.1 - Prob. 24ECh. 8.1 - Prob. 25ECh. 8.1 - DISTRIBUTION OF FAMILIES BY SIZE The Public...Ch. 8.1 - WAITNG LINES The accompanying data were obtained...Ch. 8.1 - TELEVISION PILOTS After the private screening of a...Ch. 8.1 - Prob. 29ECh. 8.1 - Prob. 30ECh. 8.1 - Prob. 31ECh. 8.1 - Prob. 32ECh. 8.1 - Prob. 33ECh. 8.1 - Prob. 34ECh. 8.1 - Prob. 35ECh. 8.1 - Prob. 36ECh. 8.1 - Prob. 1TECh. 8.1 - Prob. 2TECh. 8.1 - Prob. 3TECh. 8.1 - Prob. 4TECh. 8.1 - Prob. 5TECh. 8.1 - Prob. 6TECh. 8.1 - Prob. 7TECh. 8.1 - Prob. 8TECh. 8.1 - Prob. 9TECh. 8.1 - Prob. 10TECh. 8.2 - What is the expected value of a random variable?...Ch. 8.2 - Prob. 2CQCh. 8.2 - Prob. 3CQCh. 8.2 - Prob. 1ECh. 8.2 - Find the expected value of a random variable X...Ch. 8.2 - CALCULATING GPA During the first year at a...Ch. 8.2 - Prob. 4ECh. 8.2 - Prob. 5ECh. 8.2 - CAFETERIA MILK CONSUMPTION Records kept by the...Ch. 8.2 - EXPECTED EARNINGS The daily earnings X of an...Ch. 8.2 - EXPECTED NUMBER OF DEFECTIVE PRODUCTS If a sample...Ch. 8.2 - EXPECTED NUMBER OF AUTO ACCIDENTS The numbers of...Ch. 8.2 - EXPECTED DEMAND FOR MAGAZINES The owner of a...Ch. 8.2 - Prob. 11ECh. 8.2 - Prob. 12ECh. 8.2 - Prob. 13ECh. 8.2 - Prob. 14ECh. 8.2 - EXPECTED VALUE OF A LOTTERY TICKET In a lottery,...Ch. 8.2 - LIFE INSURANCE PREMIUMS A man wishes to purchase a...Ch. 8.2 - Prob. 17ECh. 8.2 - LIFE INSURANCE PREMIUMS As a fringe benefit,...Ch. 8.2 - Prob. 19ECh. 8.2 - Prob. 20ECh. 8.2 - Prob. 21ECh. 8.2 - EXPECTED AUTO SALES OF A DEALERSHIP Roger Hunt...Ch. 8.2 - EXPECTED HOME SALES OF A REALTOR Sally Leonard, a...Ch. 8.2 - Prob. 24ECh. 8.2 - Prob. 25ECh. 8.2 - Prob. 26ECh. 8.2 - Prob. 27ECh. 8.2 - Prob. 28ECh. 8.2 - Prob. 29ECh. 8.2 - Prob. 30ECh. 8.2 - Prob. 31ECh. 8.2 - Prob. 32ECh. 8.2 - Prob. 33ECh. 8.2 - Prob. 34ECh. 8.2 - Prob. 35ECh. 8.2 - Prob. 36ECh. 8.2 - Prob. 37ECh. 8.2 - Prob. 38ECh. 8.2 - Prob. 39ECh. 8.2 - ODDS OF WINNING A BOXING MATCH If a sports...Ch. 8.2 - Prob. 41ECh. 8.2 - Prob. 42ECh. 8.2 - Prob. 43ECh. 8.2 - Prob. 44ECh. 8.2 - Prob. 45ECh. 8.2 - SAN FRANCISCO WEATHER The normal daily minimum...Ch. 8.2 - Prob. 47ECh. 8.2 - Prob. 48ECh. 8.2 - Prob. 49ECh. 8.2 - Prob. 50ECh. 8.2 - Prob. 51ECh. 8.2 - Prob. 52ECh. 8.2 - In Exercises 52 and 53, determine whether the...Ch. 8.3 - a. What is the variance of a random variable X? b....Ch. 8.3 - Prob. 2CQCh. 8.3 - Prob. 1ECh. 8.3 - In Exercises 1-6, the probability distribution of...Ch. 8.3 - Prob. 3ECh. 8.3 - Prob. 4ECh. 8.3 - Prob. 5ECh. 8.3 - Prob. 6ECh. 8.3 - Prob. 7ECh. 8.3 - Prob. 8ECh. 8.3 - In Exercises 9 and 10, find the variance of the...Ch. 8.3 - Prob. 10ECh. 8.3 - An experiment consists of rolling an eight-sided...Ch. 8.3 - Happiness Score The happiness score, by...Ch. 8.3 - Prob. 13ECh. 8.3 - INVESTMENT ANALYSIS Paul Hunt is considering two...Ch. 8.3 - Prob. 15ECh. 8.3 - The distribution of the number of chocolate chips...Ch. 8.3 - Prob. 17ECh. 8.3 - Prob. 18ECh. 8.3 - STUCK IN TRAFFIC The following table gives the...Ch. 8.3 - COST OF TAKING TIME OFF A survey was conducted of...Ch. 8.3 - Prob. 21ECh. 8.3 - NEW YORK STATE COURTS' TOTAL CASELOAD The...Ch. 8.3 - Prob. 23ECh. 8.3 - IDENTITY FRAUD The identity fraud rates in the...Ch. 8.3 - Prob. 25ECh. 8.3 - Prob. 26ECh. 8.3 - Prob. 27ECh. 8.3 - Prob. 28ECh. 8.3 - Prob. 29ECh. 8.3 - Prob. 30ECh. 8.3 - Prob. 31ECh. 8.3 - Prob. 32ECh. 8.3 - Prob. 33ECh. 8.3 - Prob. 34ECh. 8.3 - Prob. 35ECh. 8.3 - Prob. 36ECh. 8.3 - Prob. 37ECh. 8.3 - Prob. 38ECh. 8.3 - Prob. 39ECh. 8.3 - Prob. 40ECh. 8.3 - A Probability distribution has mean of 42 and a...Ch. 8.3 - A Probability distribution has mean of 20 and a...Ch. 8.3 - Prob. 43ECh. 8.3 - Prob. 44ECh. 8.3 - Prob. 45ECh. 8.3 - Prob. 46ECh. 8.3 - Prob. 47ECh. 8.3 - Prob. 48ECh. 8.3 - Prob. 49ECh. 8.3 - Prob. 50ECh. 8.3 - Prob. 1TECh. 8.3 - Prob. 2TECh. 8.3 - Prob. 3TECh. 8.3 - Prob. 4TECh. 8.3 - Prob. 5TECh. 8.3 - Prob. 6TECh. 8.3 - Prob. 7TECh. 8.3 - Prob. 8TECh. 8.4 - Suppose that you are given a Bernoulli experiment....Ch. 8.4 - Prob. 2CQCh. 8.4 - Prob. 1ECh. 8.4 - Prob. 2ECh. 8.4 - Prob. 3ECh. 8.4 - Prob. 4ECh. 8.4 - Prob. 5ECh. 8.4 - Prob. 6ECh. 8.4 - Prob. 7ECh. 8.4 - Prob. 8ECh. 8.4 - Prob. 9ECh. 8.4 - Prob. 10ECh. 8.4 - Prob. 11ECh. 8.4 - In Exercises 1116, use the formula C(n,x)pxqnx to...Ch. 8.4 - Prob. 13ECh. 8.4 - Prob. 14ECh. 8.4 - Prob. 15ECh. 8.4 - Prob. 16ECh. 8.4 - Prob. 17ECh. 8.4 - Prob. 18ECh. 8.4 - A binomial experiment consists of five independent...Ch. 8.4 - FAMILY COMPOSITION Let the random variable X...Ch. 8.4 - Prob. 21ECh. 8.4 - SPORTS If the probability that a certain tennis...Ch. 8.4 - Prob. 23ECh. 8.4 - VOTERS In a certain congressional district. it is...Ch. 8.4 - Prob. 25ECh. 8.4 - Prob. 26ECh. 8.4 - RESTAURANT HEALTH CODE VIOLATIONS Suppose 30 of...Ch. 8.4 - Prob. 28ECh. 8.4 - EXAMS A psychology quiz consists of ten...Ch. 8.4 - Prob. 30ECh. 8.4 - Prob. 31ECh. 8.4 - MAKING FRIENDS In a survey of 2541 adults aged 18...Ch. 8.4 - EXAMS A biology quiz consists of eight...Ch. 8.4 - Prob. 34ECh. 8.4 - Prob. 35ECh. 8.4 - CONSUMER PREFERENCES An advertisement for Brand A...Ch. 8.4 - Prob. 37ECh. 8.4 - Prob. 38ECh. 8.4 - BLOOD PRESSURE A study conducted in 2012...Ch. 8.4 - Prob. 40ECh. 8.4 - Prob. 41ECh. 8.4 - WORKING WITH A SPOUSE In a survey of 1147 small...Ch. 8.4 - Prob. 43ECh. 8.4 - Prob. 44ECh. 8.4 - ROBOT RELIABILITY An automobile manufacturing...Ch. 8.4 - Prob. 46ECh. 8.4 - Prob. 47ECh. 8.4 - Prob. 48ECh. 8.4 - Prob. 49ECh. 8.4 - Prob. 50ECh. 8.4 - Prob. 51ECh. 8.4 - Prob. 52ECh. 8.4 - Prob. 53ECh. 8.4 - Prob. 54ECh. 8.4 - Prob. 55ECh. 8.4 - Prob. 56ECh. 8.4 - Prob. 57ECh. 8.4 - Prob. 58ECh. 8.4 - Prob. 59ECh. 8.4 - Prob. 60ECh. 8.4 - Prob. 61ECh. 8.4 - Prob. 62ECh. 8.5 - Consider the following normal curve with mean and...Ch. 8.5 - Prob. 2CQCh. 8.5 - Prob. 1ECh. 8.5 - Prob. 2ECh. 8.5 - Prob. 3ECh. 8.5 - Prob. 4ECh. 8.5 - Prob. 5ECh. 8.5 - Prob. 6ECh. 8.5 - Prob. 7ECh. 8.5 - Prob. 8ECh. 8.5 - Prob. 9ECh. 8.5 - In Exercise 714, a make a sketch of the area under...Ch. 8.5 - Prob. 11ECh. 8.5 - Prob. 12ECh. 8.5 - Prob. 13ECh. 8.5 - Prob. 14ECh. 8.5 - Prob. 15ECh. 8.5 - Prob. 16ECh. 8.5 - Prob. 17ECh. 8.5 - Prob. 18ECh. 8.5 - Prob. 19ECh. 8.5 - Prob. 20ECh. 8.6 - Prob. 1CQCh. 8.6 - Prob. 2CQCh. 8.6 - Medical Records The medical record of infant...Ch. 8.6 - Prob. 2ECh. 8.6 - Prob. 3ECh. 8.6 - Prob. 4ECh. 8.6 - IQsThe IQs of students at Wilson Elementary School...Ch. 8.6 - Prob. 6ECh. 8.6 - Prob. 7ECh. 8.6 - Prob. 8ECh. 8.6 - WARRANTIES The general manager of the service...Ch. 8.6 - Prob. 10ECh. 8.6 - GRADE DISTRIBUTION The score on a sociology...Ch. 8.6 - HIGHWAY SPEEDS The speeds in miles per hour of...Ch. 8.6 - In Exercise 13-24, use the appropriate normal...Ch. 8.6 - Prob. 14ECh. 8.6 - Prob. 15ECh. 8.6 - CHANCE OF MAKING A FREE THROW A basketball player...Ch. 8.6 - Prob. 17ECh. 8.6 - TELEMARKETING Jorge sells magazine subscription...Ch. 8.6 - Prob. 19ECh. 8.6 - Prob. 20ECh. 8.6 - Prob. 21ECh. 8.6 - Prob. 22ECh. 8.6 - CRUISE SHIP BOOKINGS Because of late...Ch. 8.6 - Prob. 24ECh. 8.CRQ - Fill in the blanks. A rule that assigns a number...Ch. 8.CRQ - Prob. 2CRQCh. 8.CRQ - Prob. 3CRQCh. 8.CRQ - Prob. 4CRQCh. 8.CRQ - Prob. 5CRQCh. 8.CRQ - Prob. 6CRQCh. 8.CRQ - Fill in the blanks. A probability distribution...Ch. 8.CRQ - Prob. 8CRQCh. 8.CRE - Prob. 1CRECh. 8.CRE - LIFE INSURANCE POLICIES A man purchased a 25,000,...Ch. 8.CRE - Prob. 3CRECh. 8.CRE - Prob. 4CRECh. 8.CRE - In Exercises 5-8, let Z be the standard normal...Ch. 8.CRE - Prob. 6CRECh. 8.CRE - Prob. 7CRECh. 8.CRE - Prob. 8CRECh. 8.CRE - In Exercises 9-12, let Z be the standard normal...Ch. 8.CRE - Prob. 10CRECh. 8.CRE - Prob. 11CRECh. 8.CRE - Prob. 12CRECh. 8.CRE - Prob. 13CRECh. 8.CRE - Prob. 14CRECh. 8.CRE - Prob. 15CRECh. 8.CRE - Prob. 16CRECh. 8.CRE - DRIVING AGE REQUIREMENTS The minimum age...Ch. 8.CRE - Prob. 18CRECh. 8.CRE - TRAFFIC A traffic survey of the speed of the...Ch. 8.CRE - EXPECTED PROFIT A buyer for Discount Fashions, an...Ch. 8.CRE - BOWLING A STRIKE If the probability that a bowler...Ch. 8.CRE - HEIGHTS OF WOMEN The heights of 4000 women who...Ch. 8.CRE - Prob. 23CRECh. 8.CRE - NETFLIX REVENUE FROM STREAMING SUBSCRIBERS The...Ch. 8.CRE - Prob. 25CRECh. 8.CRE - Prob. 26CRECh. 8.CRE - Prob. 27CRECh. 8.CRE - Prob. 28CRECh. 8.CRE - Prob. 29CRECh. 8.CRE - ON-TIME ARRIVALS Diane, who commutes regularly...Ch. 8.CRE - Prob. 31CRECh. 8.CRE - Prob. 32CRECh. 8.BMO - Prob. 1BMOCh. 8.BMO - Prob. 2BMOCh. 8.BMO - Prob. 3BMOCh. 8.BMO - Prob. 4BMOCh. 8.BMO - Prob. 5BMOCh. 8.BMO - A fair coin is tossed 30 times. Using the...
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, advanced-math and related others by exploring similar questions and additional content below.Similar questions
- What is the standard scores associated to the left of z is 0.1446arrow_forward2. [-/1 Points] DETAILS MY NOTES SESSCALCET2 6.5.015. Use the Trapezoidal Rule, the Midpoint Rule, and Simpson's Rule to approximate the given integral with the specified value of n. (Round your answers to six decimal places.) ASK YOUR TEACHER 3 1 3 + dy, n = 6 (a) the Trapezoidal Rule (b) the Midpoint Rule (c) Simpson's Rule Need Help? Read It Watch Itarrow_forwardThis question builds on an earlier problem. The randomized numbers may have changed, but have your work for the previous problem available to help with this one. A 4-centimeter rod is attached at one end to a point A rotating counterclockwise on a wheel of radius 2 cm. The other end B is free to move back and forth along a horizontal bar that goes through the center of the wheel. At time t=0 the rod is situated as in the diagram at the left below. The wheel rotates counterclockwise at 1.5 rev/sec. At some point, the rod will be tangent to the circle as shown in the third picture. B A B at some instant, the piston will be tangent to the circle (a) Express the x and y coordinates of point A as functions of t: x= 2 cos(3πt) and y= 2 sin(3πt) (b) Write a formula for the slope of the tangent line to the circle at the point A at time t seconds: -cot (3πt) (c) Express the x-coordinate of the right end of the rod at point B as a function of t: 2 cos(3πt) +41/1 (d) Express the slope of the rod…arrow_forward
- Consider the proof below: Proposition: If m is an even integer, then 5m +4 is an even integer. Proof: We see that |5m+4=10n+4 = 2(5n+2). Therefore, 5m+4 is an even integer. **Note: you may assume the proof is valid, just poorly written. Based upon the Section 1.3 screencast and the reading assignment, select all writing guidelines that are missing in the proof. Proof begins by stating assumptions ✓ Proof has an invitational tone/uses collective pronouns Proof is written in complete sentences Each step is justified ☐ Proof has a clear conclusionarrow_forwardNote: 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…arrow_forward4. [-/1 Points] DETAILS MY NOTES SESSCALCET2 6.5.024. Find the approximations Tη, Mn, and S, to the integral computer algebra system.) ASK YOUR TEACHER PRACTICE ANOTHER 4 39 √ dx for n = 6 and 12. Then compute the corresponding errors ET, EM, and Es. (Round your answers to six decimal places. You may wish to use the sum command on a n Tn Mn Sp 6 12 n ET EM Es 6 12 What observations can you make? In particular, what happens to the errors when n is doubled? As n is doubled, ET and EM are decreased by a factor of about Need Help? Read It ' and Es is decreased by a factor of aboutarrow_forward
- 6. [-/1 Points] DETAILS MY NOTES SESSCALCET2 6.5.001. ASK YOUR TEACHER PRACTICE ANOTHER Let I = 4 f(x) dx, where f is the function whose graph is shown. = √ ² F(x 12 4 y f 1 2 (a) Use the graph to find L2, R2 and M2. 42 = R₂ = M₂ = 1 x 3 4arrow_forwardThe general solution X'=Ax is given. Discuss the nature of the solutions in a neighborhood of (0,0) -2-2 (²) |a) A = (23) X(A) = (₁ (fi)e* + (2 (2) eht -2-5arrow_forwardshow work in paperarrow_forward
- practice problem please help!arrow_forwardPlease ensure that all parts of the question are answered thoroughly and clearly. Include a diagram to help explain answers. Make sure the explanation is easy to follow. Would appreciate work done written on paper. Thank you.arrow_forwardFind a parameterization for a circle of radius 4 with center (-4,-6,-3) in a plane parallel to the yz plane. Write your parameterization so the y component includes a positive cosine.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Holt Mcdougal Larson Pre-algebra: Student Edition...AlgebraISBN:9780547587776Author:HOLT MCDOUGALPublisher:HOLT MCDOUGAL
Big Ideas Math A Bridge To Success Algebra 1: Stu...AlgebraISBN:9781680331141Author:HOUGHTON MIFFLIN HARCOURTPublisher:Houghton Mifflin Harcourt
Holt Mcdougal Larson Pre-algebra: Student Edition...
Algebra
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Big Ideas Math A Bridge To Success Algebra 1: Stu...
Algebra
ISBN:9781680331141
Author:HOUGHTON MIFFLIN HARCOURT
Publisher:Houghton Mifflin Harcourt
Correlation Vs Regression: Difference Between them with definition & Comparison Chart; Author: Key Differences;https://www.youtube.com/watch?v=Ou2QGSJVd0U;License: Standard YouTube License, CC-BY
Correlation and Regression: Concepts with Illustrative examples; Author: LEARN & APPLY : Lean and Six Sigma;https://www.youtube.com/watch?v=xTpHD5WLuoA;License: Standard YouTube License, CC-BY