8. With an American penny, the likelihood of getting H when it is spun on edgeis 0.3. If X is the random variable where X (H) = 1, X(T) = −1, find theexpected value E(X), the variance, Var(X), and express X in its standard form.

Let X be a standard variable and have 2 values x1,x2 with related probabilities p(x1),p(x2) Expected…

Answered: 8. With an American penny, the…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

A signed a contract with B to buy a machine at a price of $920. Assume that A's value for the machine is $1000. At the time when the contract is signed, B's cost of making the machine is a random variable subject to the following probability distribution. Realized Cost Probability 1200 800 400 0.3 0.5 0.2 What is the efficient probability that the contract is breached?
The accompanying table gives the outcomes and probability distribution of the number of times a student checks her e-mail daily: Outcome (X) (number of email checks) Probability Distribution f(x) 0 0.05 1 0.15 2 0.30 3 0.25 4 0.15 5 0.08 6 0.02 Calculate the expected value and the variance.
Suppose that Bloomsburg University graduate starting salaries are normally distributed with a mean of $40,712 and a standard deviation of $12,570. What is the probability that a randomly selected graduate's starting salary is below $48,000? 0.848 0.000 0.719 0.281
A new Bookstore web-site receives 12 hits each day. The probability that a hit results in a purchase is 0.4700 1. Hand Calculate the expected value, E(x); the variance, var(x), and the standard deviation, s(x). Go to 4 decimals Expected value = Variance = Standard deviation = HELPFUL FORMULAS for BINOMIAL Distribution : Expected Value = E(x) = µ = np Variance = o = npq = np(1-p) Standard Deviation =o = Vơ or SQRT Variance Using Table output below and your calculator to answer the following questions (#'s 2-8). Go to 4 decimals and show ALL work. f(x) cum f(x) 0.0005 0.0005 0.0052 0.0057 2 0.0255 0.0312 3 0.0754 0.1066 0.1504 0.2570 0.2134 0.4703 0.2208 0.6911 7 0.1678 0.8589 8. 0.0930 0.9519 0.0367 0.9886 10 0.0098 0.9983 11 0.0016 0.9999 12 0.0001 1.0000 You may hand write your answers. Take a photo of your work for Part I and submit along with photo of work for Part II onto Canvas. Please use the CamScanner app or similar app on your phone and convert your photo files to a PDF before…
A pension fund manager is considering three mutual funds. The first is a stock fund, the second is a long-term government and corporate bond fund, and the third is a T-bill money market fund that yields a rate of 8%. The probability distribution of the risky funds is as follows: Stock fund (S) Bond fund (B) Proportion in Stock Fund The correlation between the fund returns is 0.10. Tabulate the investment opportunity set of the two risky funds. (Round your answers to 2 decimal places.) 0.00 % Expected Return 20% 12 20.00 40.00 60.00 80.00 100.00 Proportion in Bond Fund Standard Deviation 30% 15 100.00 % 80.00 60.00 40.00 20.00 0.00 Expected Return % Standard Deviation %
1. A sales man, figure that a contract results in a sale with 2. During a given day, he contacted two prospective clients. Calculate the probability distribution for X, the number of clients who signed the sales contract, so that the variance and standard deviation is found.
2. Let X and Y be continuous random variables with joint pdf fx.y (x, y) = 3x, 0sy
None
The probability distribution for the number of automobiles sold during a day (x) at Bob Iron Motors is as follows. x f(x) 0 0.001 1 0.007 2 0.034 3 0.099 4 0.188 5 6 0.220 7 0.136 8 0.055 9 0.015 10 0.001 21 The expected value of the number of automobiles sold is, a 5.20 b 5.31 c 5.42 d 5.53
Prospect Z = ($1, 0.30 ; $18, 0.40 ; $25, 0.30) What is the standard deviation of prospect Z? (Note: The answer may not be a whole number; please round to the nearest hundredth) (Note: The numbers may change between questions, so read carefully)
1. Suppose the prices of used cars in the market are normally distributed with a mean of $15,000 and a standard deviation of $7,5000. What is the probability of selecting a car from this market and its priced above $20,000.
At races, your horse, White Rum, has a probability of 1/20 of coming 1st, 1/10 of coming 2nd and a probability of 1⁄4 in coming 3rd. First place pays $5,000 to the winner, second place $4,000 and third place $1,350.Hence, is it worth entering the race if it costs $1050? Your company plans to invest in a particular project. There is a 40% chance you will lose $3,000, a 45% chance you will break even, and a 15% chance you will make $5,500. Based solely on this information, what should you do? On 1st Jan 2006, a business had inventory of $19,000. During the month, sales totalled $32,500 and purchases $24,000. On 31st Jan 2006 a fire destroyed some of the inventory. The undamaged goods in inventory were valued at $11,000. The business operates with a standard gross profit margin of 30%. Based on this information, what is the cost of the inventory destroyed in the fire?

SEE MORE QUESTIONS

Recommended textbooks for you

ENGR.ECONOMIC ANALYSIS

Economics

ISBN:

9780190931919

Author:

NEWNAN

Publisher:

Oxford University Press

Principles of Economics (12th Edition)

Economics

ISBN:

9780134078779

Author:

Karl E. Case, Ray C. Fair, Sharon E. Oster

Publisher:

PEARSON

Engineering Economy (17th Edition)

Economics

ISBN:

9780134870069

Author:

William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

Publisher:

PEARSON

ENGR.ECONOMIC ANALYSIS

Economics

ISBN:

9780190931919

Author:

NEWNAN

Publisher:

Oxford University Press

Principles of Economics (12th Edition)

Economics

ISBN:

9780134078779

Author:

Karl E. Case, Ray C. Fair, Sharon E. Oster

Publisher:

PEARSON

Engineering Economy (17th Edition)

Economics

ISBN:

9780134870069

Author:

William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

Publisher:

PEARSON

Principles of Economics (MindTap Course List)

Economics

ISBN:

9781305585126

Author:

N. Gregory Mankiw

Publisher:

Cengage Learning

Managerial Economics: A Problem Solving Approach

Economics

ISBN:

9781337106665

Author:

Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:

Cengage Learning

Managerial Economics & Business Strategy (Mcgraw-…

Economics

ISBN:

9781259290619

Author:

Michael Baye, Jeff Prince

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS

8. With an American penny, the likelihood of getting H when it is spun on edge is 0.3. If X is the random variable where X (H) = 1, X(T) = −1, find the expected value E(X), the variance, Var(X), and express X in its standard form.