In the table below, you can see the probabilitydistribution of profits, for construction projects,considering three probable scenarios: low profit,medium profit, and high profit. Suppose twoprojects in different cities, each with independentreturn distributions identical to the one shown inthe table, are undertaken. If the combined returnsfrom these two projects amount to at least $6,000,what is the probability that the total returns will be$18,000 or higher?ReturnLow-12000Medium 6000High 18000O a.a. 0.44O b. 0.51O c. 0.37O d. 0.74O e. 0.65Prob0.190.570.24

The probability distribution of returns in three scenarios is shown below:…

Answered: In the table below, you can see the…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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The proprietor of Midland Construction Company has to decide between two projects. He estimates that the first project will yield a profit of $180,000 with a probability of 0.7 or a profit of $130,000 with a probability of 0.3; the second project will yield a profit of $220,000 with a probability of 0.7 or a profit of $80,000 with a probability of 0.3.Find the expected profit for each project. first project $ second project $
Parts a-d please
Your car is making a funny noise. You believe that the problem is either with the wheel or the axle, and you believe the probability is 0.3 that the wheel needs to be replaced, and 0.7 that the axle needs to be replaced. You need to decide whether to replace the wheel or the axle first. The cost of each alternative is given in the following table (if you decided to replace the wrong part first, you have to replace both of them). The Wheel is broken p = 0.3 The Axle is broken p = 0.7 Replace Wheel First Replace Axle First 600 1500 1500 900 a) Find the EV of each decision alternative. Which part should you replace first? b) What is the EVPI?
In automotive repair, experience has shown that a rough - running engine can be attributed to the bad ignition wires 35% of the time, bad spark plugs 80% of the time, and both problems 20% of the time. Suppose a mechanic begins to diagnose the problem by checking the spark plugs first and find them to be bad. Given this information, what is the probability that the wires are also bad?
Bob, the proprietor of Midway Lumber, bases his projections for the annual revenues of the company on the performance of the housing market. He rates the performance of the market as very strong, strong, normal, weak, or very weak. For the next year, Bob estimates that the probabilities for these outcomes are 0.15, 0.25, 0.39, 0.09, and 0.12, respectively. He also thinks that the revenues corresponding to these outcomes are $23, $18.6, $16.9, $14, and $6 million, respectively. What is Bob's expected revenue for next year?
The proprietor of Midland Construction Company has to decide between two projects. He estimates that the first project will yield a profit of $160,000 with a probability of 0.7 or a profit of $120,000 with a probability of 0.3; the second project will yield a profit of $220,000 with a probability of 0.6 or a profit of $70,000 with a probability of 0.4.Find the expected profit for each project. first project $ second project $ Which project should the proprietor choose if he wants to maximize his expected profit? first project second project
Becky and Carla take an advanced yoga class. Becky can hold 29% of her poses for over a minute, while Carla can hold 35% of her poses for over a minute. Suppose each yoga student is asked to hold 50 poses. Let B the proportion of poses Becky can hold for over a minute and C = the proportion of poses Carla can hold for over a minute. What is the probability that Becky's proportion of poses held for over a minute is greater than Carla's? Find the z-table here. O 0.159 O 0,259 0 0.448 O 0,741 Save and Exit Next Submit Math and rem 96 & 7 8 9. 10
Suppose an oil company is thinking of buying some land for $10,000,000. There is a 60%60% chance of economic growth and a 40%40% chance of recession. The probability of discovering oil is 44%44% when there is economic growth and 32%32% when there is a recession. If there is economic growth and the oil company discovers oil, the value of the land will triple. If they do not discover oil, the value of the land will decrease by 10%.10%. If there is a recession and the company discovers oil, the value of the land will increase by 50%.50%. If they do not discover oil, the land will decrease in value by 75%.75%. What is the expected value of the investment? Give your answer to the nearest dollar. Avoid rounding within calculations. $$ Select the correct interpretation of the expected value. The expected value represents what the actual investment value will be for this land purchase of $10,000,000. The company should make the investment because the expected value…
Brian, a landscape architect, submitted a bid on each of three home landscaping projects. He estimates that the probabilities of winning the bid on Project A, Project B, and Project C are 0.7, 0.5, and 0.2, respectively. Assume that the probability of winning a bid on one of the three projects is independent of winning or losing the bids on the other two projects. Find the probability that Brian will experience the following. (a) Win all three of the bids (b) Win exactly two of the bids (c) Win exactly one bid
Lumina Retail has just bought a chain of appliance stores. Lumina received an offer from Comfort Cubbies to purchase the Wyndham branch store for $120,000. Lumina has determined probability estimates of the store's future profitability, based on historical projections as: P($80,000) = .2, P($100,000) = .3, P($120,000) = .1, and P($140,000) = .4. Your best friend's family owns Lumina and they asked you for advice. What do you recommend? Choose the BEST option. Group of answer choices Yes, sell the branch. Your highest payoff is $140,000. Yes, sell the branch. Your highest payoff is $120,000. No, do not sell the branch. Your highest payoff is $140,000. You need more information to help them decide. No, do not sell the branch. Your highest payoff is $114,000.st payoff is $140,000.
Dystopia county has three bridges. In the next year, the Elder bridge has a 10% chance of collapse, the Younger bridge has a 2% chance of collapse, and the Ancient bridge has a 16% chance of collapse. What is the probability that exactly one of these bridges will collapse in the next year? (Round your final answer to four decimal places. Do not round intermediate calculations.)
An analyst attempting to predict a corporation’s earnings next year believes that the corporation’s business is quite sensitive to the level of interest rates. He believes that, if average rates in the next year are more than 1% higher than this year, the probability of significant earnings growth is 0.1. If average rates next year are more than 1% lower than this year, the probability of significant earnings growth is estimated to be 0.8. Finally, if average interest rates next year are within 1% of this year’s rates, the probability for significant earnings growth is put at 0.5. The analyst estimates that the probability is 0.25 that rates next year will be more than 1% higher than this year and 0.15 that they will be more than 1% lower than this year.a. What is the estimated probability that both interest rates will be 1% higher and significant earnings growth will result?b. What is the probability that this corporation will experience significant earnings growth?c. If the…

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