Bonus incentives. If a salesperson has gross sales of over $600,000 in a year, then he or she is eligible to play the company’s bonus game: A black box contains 1 twenty-dollar bill, 2 five dollar bills, and 1 one-dollar bill. Bills are drawn out of the box one at a time without replacement until a twenty-dollar bill is drawn. Then the game stops. The sales person’s bonus is 1 , 000 times the value of the bills drawn. (A) What is the probability of winning a $26,000 bonus? (B) What is the probability of winning the maximum bonus, $31,000 , by drawing out all bills in the box? (C) What is the probability of the game stopping at the third draw?
Bonus incentives. If a salesperson has gross sales of over $600,000 in a year, then he or she is eligible to play the company’s bonus game: A black box contains 1 twenty-dollar bill, 2 five dollar bills, and 1 one-dollar bill. Bills are drawn out of the box one at a time without replacement until a twenty-dollar bill is drawn. Then the game stops. The sales person’s bonus is 1 , 000 times the value of the bills drawn. (A) What is the probability of winning a $26,000 bonus? (B) What is the probability of winning the maximum bonus, $31,000 , by drawing out all bills in the box? (C) What is the probability of the game stopping at the third draw?
Solution Summary: The author explains how the probability of winning a 26,000 bonus is 0.167.
Bonus incentives. If a salesperson has gross sales of over
$600,000
in a year, then he or she is eligible to play the company’s bonus game: A black box contains 1 twenty-dollar bill, 2 five dollar bills, and 1 one-dollar bill. Bills are drawn out of the box one at a time without replacement until a twenty-dollar bill is drawn. Then the game stops. The sales person’s bonus is
1
,
000
times the value of the bills drawn.
(A) What is the probability of winning a
$26,000
bonus?
(B) What is the probability of winning the maximum bonus,
$31,000
, by drawing out all bills in the box?
(C) What is the probability of the game stopping at the third draw?
Consider a sample with data values of 27, 25, 20, 15, 30, 34, 28, and 25. Compute the range, interquartile range, variance, and standard deviation (to a maximum of 2 decimals, if decimals are necessary).
Range
Interquartile range
Variance
Standard deviation
Could you explain this using the formula I attached and polar coorindates
1: Stanley Smothers receives tips from customers as a standard component of his weekly pay. He was paid $5.10/hour by his employer and received $305 in tips during the
most recent 41-hour workweek.
Gross Pay = $
2: Arnold Weiner receives tips from customers as a standard component of his weekly pay. He was paid $4.40/hour by his employer and received $188 in tips during the
most recent 47-hour workweek.
Gross Pay = $
3: Katherine Shaw receives tips from customers as a standard component of her weekly pay. She was paid $2.20/hour by her employer and received $553 in tips during the
most recent 56-hour workweek.
Gross Pay = $
4: Tracey Houseman receives tips from customers as a standard component of her weekly pay. She was paid $3.90/hour by her employer and received $472 in tips during
the most recent 45-hour workweek.
Gross Pay = $
Chapter 8 Solutions
Finite Mathematics for Business, Economics, Life Sciences, and Social Sciences (14th Edition)
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