A new product is built and ready to launch. If successful, it will lead to a profit of $50,000. If it is unsuccessful, it will lead to a loss of $30,000. What probability of success would make the company indifferent about launching the product? Enter as a decimal (not a percentage).

Q: QUESTION :- An insurance company would like to offer theft insurance for renters. The policy would…

A: Insurance: Insurance, in general, can be defined as a means of protecting oneself against financial…

Q: Five of ten people earn $0, four earn $100, and one loses $100. What is the expected payoff? What is…

A: An average is the sum of the earnings divided by the number of observations. In this case, ten…

Q: An item is produced in large numbers. The machine is known to produce 5% defectives. A quality…

A:

Q: Show your work. An MBA applies for a job in two firms X and Y. The probability of his being selected…

A:

Q: An entrepreneur has a venture that will make either $100M or $0. The chance that this venture will…

A: Answer (A) If the entrepreneur tries hard her expected utility is

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A: Probability refers to the chance or the happening of an event which may or may not take place. It is…

Q: Probability is the likelihood or chance of an event occurring. Discuss its significance in real…

A: Probability is the chance of an event to occur. Probability are used in real life to predict the…

Q: Diego's current wealth is $800, but there is a 0.2 probability that he will lose $100. Diego is risk…

A: Given; Current wealth= $800 Probability of losing $100= 0.2 Diego is a risk neutral person.

Q: A deck of 52 playing cards consists of 4 suites: clubs, spades, hearts, and diamonds. Each suite…

A: Given that the total number of cards are 52. There are 4 suits.  Each suit had 13 cards.

Q: A company invests on selling computer units worth Php 32,000.00. The probability of maintaining this…

A: Given, Selling Price- 32000.00

Q: Half of a set of the parts are manufactured by machine A and half by machine B. Five percent of all…

A: Solution - Given - Half set of parts manufactured by machine A and half by machine B. Percentage of…

Q: Decisions Involving Uncertainty - End of Chapter Problem You're a project manager overseeing five…

A: Probability of one team completing the project before time = 0.75  No of teams = 5  Probability of…

Q: A statistics professor plans classes so carefully that the lengths of her classes are uniformly…

A: The provided information are: Maximum value (b) = 59 Minimum value (a) = 49 Consider X be the random…

Q: A set of average city temperatures in August are normally distributed with a mean of 21.25°C and a…

A: Given information  Mean μ = 21.25° C Standard deviation ∂ = 2°C P ()P (19.63°c < x < 20.53°c)

Q: In a final round of a MegaMillion TV show, a contestant has won $1 million and has a chance of…

A: Ans in step 2

Q: n average a supermarket sells 500 litres of milk a day with a standard deviation of 50 litres. If…

A: Given: Mean = 500 Standard deviation = 50

Q: The probability that a management trainee will remain with a company is 0-60. The probability that…

A:

Q: Using the normal table or software, find the value of z that makes the following probabilities true.…

A: * SOLUTION :-  * The   OPTION E  is correct answer.

Q: Question 2   A potential criminal enjoys a gain of g > 0 from committing an illegal act. If the…

A: Qe are going to use expectation principle and bayesian probabilty to answer this question.

Q: n people guess an integer between 1 and 100, and the winner is the player whose guess is closest to…

A: They can choose the number between 1 and 100 The least  number they can choose = 2 the largest…

Q: 18. Arrows An Olympic archer is able to hit the bull's-eye 80% of the time. Assume each shot is…

A: The term “probability” is defined as the measure of the likelihood that a state of nature will…

Q: opening 2018 World Cup odds against being the winning team specified by espn.com were 9/2 for…

A: It is known that the formula to compute the odds for the winning team is: Odds against =Number of…

Q: Hello help please There are six hundred Economics students in the post-graduate classes of a…

A: The correct answer is given in the second step .

Q: Assume the likelihood that any flight on Delta Airlines arrives within 15 minutes of the scheduled…

A:

Q: Suppose the market for auto insurance is made of up two types of buyers: high-risk and low-risk.…

A: The willingness to pay refers to the highest price the buyer will willingly pay. The willingness to…

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A: The anticipated average value for some investment at some point in the future is given by the…

Q: university knows from historical data that 25% of students in an introductory statistics class…

A:

Q: In a game, there are three values 1, 000, 2.500 and 5,000 and the cost of the game is 1, 500 . If…

A: Expected Value refers to the anticipated value for investment at some point in the future period. it…

Q: ‘Lottery A’ refers to a lottery ticket that pays $2,000 with a probability of 0.3, $8,000 with a…

A: Expected gains = ∑ (probability * gains)‘Lottery A’ refers to a lottery ticket that pays $2,000 with…

Q: Your employer, an insurance company, would like to offer theft insurance for renters.  The policy…

A: We have, Probability of theft without security system = 0.05 Probability of theft with a security…

Q: A biometric security device using fingerprints erroneously refuses to admit 2 in 1,000 authorized…

A: The probability that the person was really authorized can be calculated as follows:

Q: Your employer, an insurance company, would like to offer theft insurance for renters.  The policy…

A: As we answer three subparts and the question has more than 3 subparts, so we would be answering the…

Q: Anticipated consumer demand in a restaurant for free-range steaks next month can be modeled by a…

A: Let X=demand X~N(μ,σ2)Given μ=1200 poundsσ=100 pounds

Q: Prospect X ($14, 0.5; $18, 0.5) Prospect Z ($A, 0.5; $24, 0.5) You know that Prospect Z is a mean…

A: Given that Prospect Z is a mean preserving spread of Prospect X. Thus the expected values of Z and X…

Q: Consider a city where everyone commutes to the city center, and the commuting cost per mile per…

A: The residential land use curve is based on how much is the consumer is willing to pay for a house.…

Q: Eric has a job at an electronics store in a mall. Eric doesn't like to work hard, and it costs him…

A: We are going to calculate Net gains in both states to answer this question correctly

Q: Consider a city where everyone commutes to the city center, and the commuting cost per mile per…

A: Commuting cost per mile per month= $50 Each household has 1500 sq feet  dwelling The worth of…

Q: Two coins are tossed 500 times, and we get: i) Two heads: 105 times ii) One head: 275 times iii)…

A: When we toss a coin the outcome would be either head or tail.

Q: 3. The number of major snowstorms that shut down business, X, has the following probability mass…

A:

Q: You need to hire some new employees to staff your start-up venture. You know that potential…

A: The expected value can be calculated using the following equation.

Q: Given the following data with 25 % probability Bidder 1 bids 100 and Bidder 2 bids 80. What is the…

A: Answer - Need to find- The winning Bid Given in the question- Given the following data with 25 %…

Q: In the final round of a TV game show, contestants have a chance to increase their current winnings…

A: There is a half-half probability of a contestant guessing the answer right and increasing their…

Q: In the final round of a TV game show, contestants have a chance to increase their current winnings…

A: Expected value is the sumproduct of probabilities and the payoff values, positive or negative.…

Q: Speedy Oil provides a single-channel automobile oil change and lubrication service. Customers…

A: Given Data λ = the mean number of car arrivals per hour. = 4. μ = the mean number of service hours =…

Q:  Time remaining: 01 :53 :32 Economics A dealer decides to sell an antique automobile by means of an…

A: Expected Revenue = 1/3 x (7200 + 3600) - 900 = 3600 - 900 = 2500 Therefore, the expected revenue is…

Q: Suppose that • The employee has an outside offer to work for $27 per hour, for 1500 hours per year…

A: Outside Offer $27/hour work for 1500 hours/year Current Work $20/hour work for 2000 hours/year…

Q: Industry standards suggest that 12 percent of new vehicles require warranty service within the first…

A: This is a binomial distribution problem where n= 10 p= 0.12 q= 1-0.12= 0.88 x= 1

Q: You work at a mechanic shop.  40% of cars that come in have a flat tire.  If there are 50 cars in…

A: Given, Probability- 40% No of cars- 50 To find- probability of 30 cars to have flat tires

Q: You work at a mechanic shop.  On average, 10 cars come into your shop each day.  Assuming a poisson…

A: Poisson Distribution: Where e = Euler's constant = 2.71828 λ = mean number of occurrences in the…