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1. The following probability tree characterizes prospects that may occur after choosing a given alternative. The profit (expressed in thousands of dollars) is presented at the end of the tree. K$ 30 High Demand 0.3 0.7 Low Demand High Cost 0.2 {Profit <= 80 K$|& } {20 <= Profit <= 70 & } {Profit >= 30 K$|& } 0.8 Low Cost High Cost 0.5 0.5 Low Cost a. Plot the probability mass function for profit b. Plot the cumulative probability for profit. c. Plot the excess cumulative probability for profit. d. Determine: Sun 0.6 0.4 Rain Sun 0.6 0.4 Rain Sun 0.6 0.4 Rain Sun 0.6 0.4 Rain 40 100 110 -10 0 20 30

1. The following probability tree characterizes prospects that may occur after choosing a given alternative. The profit (expressed in thousands of dollars) is presented at the end of the tree. K$ 30 High Demand 0.3 0.7 Low Demand High Cost 0.2 {Profit <= 80 K$|& } {20 <= Profit <= 70 & } {Profit >= 30 K$|& } 0.8 Low Cost High Cost 0.5 0.5 Low Cost a. Plot the probability mass function for profit b. Plot the cumulative probability for profit. c. Plot the excess cumulative probability for profit. d. Determine: Sun 0.6 0.4 Rain Sun 0.6 0.4 Rain Sun 0.6 0.4 Rain Sun 0.6 0.4 Rain 40 100 110 -10 0 20 30

College Algebra
College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter8: Sequences, Series,and Probability
Section8.7: Probability
Problem 4ECP: Show that the probability of drawing a club at random from a standard deck of 52 playing cards is...
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1. The following probability tree characterizes prospects that may occur after choosing a given alternative. The profit (expressed in thousands of dollars) is presented at the end of the tree. K $ 30 High Demand 0.3 0.7 Low Demand High Cost 0.2 {Profit <= 80 K$|& } {20 <= Profit <= 70|& } {Profit >= 30 K$|& } 0.8 Low Cost High Cost 0.5 0.5 Low Cost a. Plot the probability mass function for profit b. Plot the cumulative probability for profit. c. Plot the excess cumulative probability for profit. d. Determine: Sun 0.6 0.4 Rain Sun 0.6 0.4 Rain Sun 0.6 0.4 Rain Sun 0.6 0.4 Rain 40 100 110 -10 0 20 30
Transcribed Image Text:1. The following probability tree characterizes prospects that may occur after choosing a given alternative. The profit (expressed in thousands of dollars) is presented at the end of the tree. K $ 30 High Demand 0.3 0.7 Low Demand High Cost 0.2 {Profit <= 80 K$|& } {20 <= Profit <= 70|& } {Profit >= 30 K$|& } 0.8 Low Cost High Cost 0.5 0.5 Low Cost a. Plot the probability mass function for profit b. Plot the cumulative probability for profit. c. Plot the excess cumulative probability for profit. d. Determine: Sun 0.6 0.4 Rain Sun 0.6 0.4 Rain Sun 0.6 0.4 Rain Sun 0.6 0.4 Rain 40 100 110 -10 0 20 30
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