Find the expected value to the company per policy sold (round to the nearest dollar)  If the company sells 20,000 policies, what is the expected profit or loss

Q: Let X and Y be random variables with finite variance. Prove that |ρ(X, Y)| = 1 implies that there…

A: Let's assume that |ρ(X, Y)| = 1, which means that the correlation coefficient between X and Y is…

Q: A manufacturer of MP3 players conducts a set of comprehensive tests on the electrical functions of…

A: Sample size n=1000Favorable cases x=970

Q: A bag contains 14 pieces of candy. In how many ways can five pieces be selected?

A:

Q: binomial random variable random variable X reveals μ = 20 and σ^2 =  4. Calculate probability that X…

A: Answer,The population mean = 20The population variance = 4

Q: The shear strength of each of ten test spot welds is determined, yielding the following data (psi):…

A: Answer Given,389,367,378,375,400,362,358,409,380,415.The sample size [n] = 10

Q: Suppose that A and B are independent events such that P (A) = 0.10 and P(B) = 0.50. Find P(An B) and…

A: P(A)=0.1P(B)=0.5events A and B are independent

Q: 8.15. A box contains 5 red and 5 blue marbles. Two marbles are withdrawn ran- domly. If they are the…

A: a) First, let's consider the probabilities of the two possible outcomes:You win $1.10 (positive…

Q: A box consists of 6 Red balls, 4 Black balls, 7 Blue balls, and 3 White balls. If we conduct the…

A: Given box consists ,6 red balls, 4 black balls, 7 blue balls and 3 white balls.So total balls =…

Q: On my way out, Taylor told me that this is the PDF of her favorite distribution: √4x for 0 < x <…

A: The PDF is given as follows:

Q: A food safety guideline is that the mercury in fish should be below 1 part per million (ppm). Listed…

A: Here, there are 7 sample observations.The sample mean is computed as follows:The sample standard…

Q: You want to obtain a sample to estimate a population mean age of the incoming fall term transfer…

A: From the provided information,Confidence level = 99%

Q: Use a significance level of 0.1 to test the claim that workplace accidents are distributed on…

A: Significance level Claim: The workplace accidents are distributed as follows: 25% on Monday, 15% on…

Q: o that solution.  (a)  ∫ (15x^8)(e^(-x/4) (bounds: 0 to infinity) (b)  ∫ (10x^3)(1-x)^7 (bounds: 0…

A: a.∫15x8e(−x/4)0 to infinity limit b.∫10x3(1−x)70 to 1 limit

Q: Let X be a discrete random variable with moment generating function Mx(t) = ¹⁄e ¹ + e-³t+1e³t (a)…

A: Given that the discrete random variable  with moment generating funtion (MGF) is:

Q: The sweetness, y, of the candy, is supposed to be related to the average hours it cools, x. The…

A: The following data shows the sweetness of the same type of candy at different locations (cool…

Q: Calculate the standard score of the given x-value, x = 54, where x = 53.1. s= 7.1. Round your answer…

A: Given,x = 54, = 53.1,And s = 7.1We need to find the standard score of the given x-value.

Q: A box has 1 red and 3 blue marbles. Two marble are selected at random (together, without…

A: Given that, a box contains 1 red and 3 blue marbles.Total number of balls = 3+1 = 4Let R be the…

Q: Let A1, A2, A3, ..., An be a random sample with unknown mean Ai = μ, and unknown variance Var(X₂) =…

A: Let Xi be the random sample havingE(Xi)=μVar(Xi)=σ2Define estimatorΘ^=X¯2=(1/n∑k=1nXk)2Concept Used:…

Q: Select the correct choice below and, if necessary, fill in the answer box to complete your choice.…

A: It is given that the sample size is 63 and population standard deviation σ is unknown.

Q: A three-finger Morra game is a game in which two players simultaneously show one, two, or three…

A: The provided Information is:The three-finger Morra game is a game in which two players…

Q: Many doctors are concerned about changes in the skin thickness due to scar tissue build up. Suppose…

A: We have to test at  that whether there is any change in the mean skin thickness from the average…

Q: Q7 Let X and Y have a bivariate normal distribution with parameters μ₁ = 3, µ₂ = 1, 0² = 16, 02 =25…

A: Given that,

Q: Suppose X₁,..., X is a random sample of a population with a probability function. ƒ (x₁) = (x − ¹)…

A: The of a random variable  is given as, is the random sample on the random sample on the random…

Q: ). A certain part of a machine can be in two states: working or undergoing repair. A working part…

A: A certain part of machines can be in two states- State : WorkingState : Undergoing repairThe…

Q: 13. A species of nocturnal mouse forages for food by taking short trips away from its burrow. In a…

A: a) To determine the probability mass function (PMF) associated with the probability that the mouse…

Q: 7. A random variable has a probability density function given by 1/2 0 ≤ x ≤ 1, 1 ≤ x ≤ 2,…

A: Given the probability density function of the random variable X as

Q: A card is randomly selected from a deck of 52 playing cards, find the probability that it is i)A red…

A: Given,Total number of cards, n = 52We know that,Number of red card in a deck, n(red) = 26Number of…

Q: A newsgroup is interested in constructing a 99% confidence interval for the difference in the…

A: Answer Favorable cases[x1] = 370The sample size [n1] = 599Favorable cases[x2] = 474The sample size…

Q: The odds that an event, A, happens is defined to be O(A) P(A) 1 - P(A) If the odds that event A…

A: a)It is given that, the odds that event A occurs is .

Q: Two countries have a high number of 10 year old soccer players. A Mathematician is curious to see if…

A: The provided information is as follows:The data set is given as Country 1Country…

Q: The average length of a password is 8 characters. If you can on use 26 letters in the alphabet ( and…

A: The average length of a password = 8No. of letters in the alphabets=26

Q: A  mixture  of  pulverized  fuel  ash  and  Portland  ce-ment to be used for grouting should have a…

A: Suppose the population true average compressive strength of a mixture  of pulverized fuel ash and…

Q: Suppose that the random variables X1,...,Xn form a random sample of size n from the uniform…

A: Let X1, X2,.......Xn be the random sample having Uniform distribution (0,1)Y1=min{X1,…

Q: Because P(A n B) has been defined as x, and we calculated the value of P(A n B) = P(A) P(B) to be x²…

A: The provided quadratic equation for is, The objective is to calculate two values of that represent…

Q: A (b) In an experiment to assess the effects of age, type of soil, and day of production on…

A: Given, in an experiment to assess the effects of age, type of soil, and day of production on…

Q: For the spinner below, assume that the pointer can never lie on a border line. Find the following…

A: Since we know that a circle extends 360° angle at the centreby looking at the given circle we can…

Q: A fun size bag of M&Ms has about 17 candies. You open one of the bags and discover: 3 Blues, 4…

A: From the information, given thatThe total number of candies=17The total number of blue candies =…

Q: 3. In 1988 Wood, et al, did a study. Eighty-nine sedentary men were given one of two treatments.…

A: Diet:Sample size Sample mean Sample standard deviation Exercise:Sample size Sample mean Standard…

Q: There are 8 acts in a talent show. An acrobat, a comedian, a guitarist, a juggler, a magician, a…

A: There are 8 acts in a talent show.An acrobat,a comedian,a guitarist,a juggler,a magician, a singer,…

Q: Q1 Suppose X; ~ N(µ, o²), i = 1, 2,...,n and Z₂ N(0, 1), i = 1, 2, ..., k, and all random variables…

A: As per the Bartleby guildlines we have to solve first three subparts as specified by student rest…

Q: An analyst collects 10 samples of subgroups, each consisting of 20 observations during a single…

A: 10 samples of subgroups consisting of 20 observations are collected.SampleSample mean Standard…

Q: Two discrete random variables X and Y have joint probability mass function (pmf) ‚n;_y=1,2, x. f(x)…

A: To find the expected value of Y, E(Y), using the law of total expectation, we can break it down as…

Q: Problem 2. Fifteen new employees, two of whom are married to each other, are to be assigned fifteen…

A: The provided information is as follows:The total number of new employees is 15, two of whom are…

Q: A sample of 900 computer chips revealed that 61% of the chips fail in the first 1000 hours of their…

A: Sample size n=900Sample proportion p^=0.61

Q: The number of calls received at a 24-hour service desk follows a Poisson distribution that has a…

A: Given that the number of calls received at a 24-hour service desk follows a Poisson distribution…

Q: The accuracy of mammograms nowadays is about 87%, i.e., mammograms correctly identify 87% of women…

A: Given,The accuracy of mammograms nowadays is about 87%. That is, P(Positive | Cancer) = 87% =…

Q: Most medical tests are not completely accurate. For example, a microscopy test for tuberculosis…

A: The events are defined as follows:: The event that an individual has tuberculosis.:  The event that…

Q: Consider the matched filter solution discussed in the book:H(f ) = α (V (f )∗e^−j2πf t0 / SX (f…

A: The objective of the question is to find a solution to design a filter when there is an open set of…

Q: Consider a real random variable X with zero mean and variance σ2X . Suppose that wecannot directly…

A: The objective of the question is to find the optimal linear estimator for a random variable X, which…

Q: 8. A random variable has a probability density function given by (4 x - 1 f(x) = 0 ≤ x ≤ 1, ≤ 2, 1 ≤…

A: The probability density function of the random variable  is given by,