ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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- The proportion of vehicles which drive above the speed limit on a freeway is 85%. Suppose 100 vehicles are randomly clocked. 20 If each speeding vehicle is issued a $185 speeding ticket, the expected value of the ticket amount is $________. a $15,725 b $14,560 c $13,480 d $12,485arrow_forward(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?arrow_forwardQ4. Here is part of a calculation in a spreadsheet working with population data of x. Which statement is incorrect? frequency,f 2 3 5 4 2 7 1 9 Total 10 23 Σf- 10 & Σx = 23 & Σ fx = 49 Е(x) %3D 4.9 The median of x is (4 + 7)/2. А. В. C. D. H = 4.9arrow_forward
- Suppose we are again given 20 tulip bulbs that are very similar in appearance. Information on this new set of tulips is summarized below: Early (E) Late (L) Totals Red (R) Yellow (Y) Totals 5 5 10 5 5 10 10 10 20 What is P(Y)? (Enter the probability with two decimal places)arrow_forwardSelect 3 courses from a list of 7. How many different courses can be selected? Group of answer choices 7*6*5 = 210 (7*6*5)/3 = 70 (7*6*5)/(3*2*1) = 35 3*7 = 21 7*6 = 42arrow_forwardUsing the random variables X and Y from Table 2.2, consider two new random variables W = 4 + 8X and V = 11 - 2Y. Compute (a) E(W) and E(V); (b) J2W and J2V; and (c) JWV and corr(W, V).arrow_forward
- please quickly thanks !arrow_forwardthese are the dataset College Distance,Dist,Ed0.7,122.2,120.3,160,123.6,121,140.1,150.5,140.3,160.4,121,127.5,120.5,121.8,122.5,141.7,160.5,161,120.5,153,163.6,135,162,120.3,123,121.3,140.5,163.5,162,153.2,120.7,130.5,130.7,130.3,121,121.5,121.2,166.5,120.7,135,152.5,150.1,160,161,120.5,130.2,160.4,132.6,151,130.3,120.5,150.5,171.5,174,124,140,131.5,120.1,122,120.3,160.1,144,163,122.2,120.1,120.7,150.3,153.3,150.1,130.7,153.5,122.6,125,157,120.8,120.3,150.8,130.5,120.5,150.8,131.5,120.3,120.3,1515,164.5,142.5,131.1,121.5,120.3,170,120.1,174,125.6,124.5,130.2,152.5,1216,120.5,130.2,122,16arrow_forwardCalculate the expected mean for this equation, while µ 0.a ; $1 = 0.0a Yt = µ + $1yt-1+Utarrow_forward
- A5arrow_forward26. Expedia would like to test that the average number of Southwest Airlines flights which arrive on time (u) is 90. A random sample of 140 flights found that 119 arrived on time. Suppose a = 0.05. Then the critical value for the test %3D (Za/2) is a) 1.28 b) 1.96 c) 2.33 d) 2.58 O b O a Ocarrow_forwardYou may need to use the appropriate technology to answer this question. Emergency 911 calls to a small municipality in Idaho come in at the rate of one every four minutes. Assume that the number of 911 calls is a random variable that can be described by the Poisson distribution. (a) What is the expected number of 911 calls in 1 hour? 15 (b) What is the probability of three 911 calls in 5 minutes? (Round your answer to four decimal places.) x (c) What is the probability of no 911 calls in a 5-minute period? (Round your answer to four decimal places.) xarrow_forward
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