The shipping costs for fresh fruit items have been estimated and assigned the probabilities shown below. The expected value of the shipping costs is closest to: (a) $36.33 (b) $39.21 (c) $41.28 (d) $45.11 Shipping Cost, $ 34 38 55 Probability 0.22 0.31 0.47
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The shipping costs for fresh fruit items have been
estimated and assigned the probabilities shown
below. The expected value of the shipping costs is
closest to:
(a) $36.33 (b) $39.21
(c) $41.28 (d) $45.11
Shipping Cost, $ 34 38 55
Probability 0.22 0.31 0.47
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- A company invests on selling computer units worth Php 32,000.00. The probability of maintaining this price throughout the year is 65% while that of less or more than 10% the expected are 15% and 20%, (a) what is the probability that the selling price for that year is more than the expected price? (А) 0.65 (в) 0.85 0.2 D) 0.8 (E) 0.15 (F) 0.25 G) 1The Kwik Klean car wash loses $250 on rainy days and gains $1200 on non rainy days. If the probability of rain is 0.13, what is the expected net profit?(c) The price of a 14 oz cup of coffee in Sunshine cafés is a random variable C with an expected value of $3.00 and a standard deviation of $1. At any given shop, the price doesn't vary, but it varies independently across shops. Tomorrow morning, you plan to buy two 14 oz cups of coffee from the same shop while your friend plans on buying two from two different shops. (i) How much do you expect to spend on coffee tomorrow and with what standard deviation? (ii) How much do you expect your friend to spend and with what standard deviation? (iii) Who do you think has a better idea and why?
- The weekly salary paid to employees of a small company that supplies part-time laborers averages s800 with a standard deviation of $500. (a) If the weekly salaries are normally distributed, estimate the fraction of employees that make more than $300 per week. (b) If every employee receives a year-end bonus that adds $100 to the paycheck in the final week, how does this change the normal model for that week? (c) If every employee receives a 5% salary increase for the next year, how does the normal model change? (d) If the lowest salary is $300 and the meltian salary is $550, does a normal model appear appropriate?Royalties received by an investor in an oil well vary according to the price of oil. Data collected from stripper wells in a West Texas oilfield were used to develop the royalty probability relationships shown. (a) Is the variable discrete or continuous as shown? (b) What is the expected value of royalty income, E(RI), per year (c) What are the chances that royalty income will be at least $10,500 per year? (d) Use a spreadsheet to plot the probability distribution of RI with the information shown. Royalties, $/Year 6000 8500 9500 10,500 12,500 15,500 Probability 0.10 0.21 0.32 0.24 0.09 0.04Times for a surgical procedure are normally distributed. There are two methods.Method A has a mean of 28 minutes and a standard deviation of 6 minutes, whilemethod B has a mean of 32 minutes and a standard deviation of 4 minutes. (a)Which procedure is preferred if the procedure must be completed within 28minutes? (b) Thirty-eight minutes? (c) Thirty-six minutes? Explain your reasoningfully.
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