A student takes an exam containing 20 multiple choice questions. The probability of choosing a correct answer by knowledgeable guessing is 0.3. At least 13 correct answers are required to pass. If the student makes knowledgeable guesses, what is the probability that he will fail? Round your answer to four decimal places.

Suppose you like to keep a jar of change on your desk. Currently, the jar contains the following: 5 Pennies 27 Dimes 18 Nickels 8 Quarters

Please no written by hand solution Kate recently invested in real estate with the intention of selling the property one year from today. She has modeled the returns on that investment based on three economic scenarios. She believes that if the economy stays healthy, then her investment will generate a 30 percent return. However, if the economy softens, as predicted, the return will be 10 percent, while the return will be -25 percent if the economy slips into a recession. If the probabilities of the healthy, soft, and recessionary states are 0.6, 0.2, and 0.2, respectively, then what are the expected return and the standard deviation of the return on Kate❝s investment? Calculate the coefficient of variation for this investment. (Round expected return to 3 decimal places, e.g. 0.125 and round intermediate calculations and standard deviation to 5 decimal places, e.g. 0.07680.)

To solve: A manufacturer of high-tech computing equipment must decide whether or not to continue development of a new promising technology. continuing the development would cost $2 Million. If the development is continued, then a patent is either awarded or not. 70% chance that the patent will be awarded and The best estimate is that there is a a 30% chance that it will not. if the patent is awarded, the company needs to decide whether or not to license the technology. it does, it would receive a total of $25 million in licensing royalties. However, the company could also produce and sell the technology in-house (at. a cost of $10 million), in which case there is an additional uncertainty about the demand for the technology. if the demand is high (p = 0.25), the company would make $55 Million in revenues, if the demand is medium (p = 0.55) the company would make $33 Million and if the demand is Low (p = 0.20) the company would still make $15 Million. a) Draw and solve a decision tree…

5.100 Tossing a die. You are tossing a balanced die that has probability 1/6 of coming up 1 on each toss. Tosses are independent. We are interested in how long we must wait to get the first 1. (a) The probability of a 1 on the first toss is 1/6. What is the probability that the first toss is not a 1 and the second toss is a 1? (b) What is the probability that the first two tosses are not 1s and the third toss is a 1? This is the probability that the first 1 occurs on the third toss. 4 (c) Now you see the pattern. What is the probability that the first 1 occurs on the fourth toss? On the fifth toss?

Sharlene has just put a down payment on a lot in a small subdivision. There are 24 lots in the subdivision, and all are approximately 0.3 acres in size. Four builders have been contracted by the subdivision manager to each build six homes in order to finish the subdivision in 6 months. Sharlene's uncle is one of the builders contracted by the subdivision manager. What is the probability that Sharlene's uncle will be the builder that builds her house? Round your answer to two decimal places, if necessary.

You work at a mechanic shop.  On average, 10 cars come into your shop each day.  Assuming a poisson distribution, what is the probability 4 cars come into the shop? Round to 4 decimal points.

When a pair of dice is tossed, the results may be any whole number from 2 through 12. In the game of craps one can win by tossing either a 7 or an 11 on the first roll. What is the probability of doing this?

QUESTION :- An insurance company would like to offer theft insurance for renters. The policy would pay the full replacement value of any items that were stolen from the apartment. Some apartments have security alarms installed. Such systems detect a break-in and ring an alarm within the apartment. The insurance company estimates that the probability of a theft in a year is 0.05 if there is no security system and 0.01 if there is a security system (there cannot be more than one theft in any year). An apartment with a security system costs the renter an additional $50 per year. Assume that the dollar loss from a theft is $10,000 and that the insurance company is risk neutral and the renter would be willing to pay more than the expected loss to insure against the loss of theft. For a security system to be effective the renter must turn it on whenever he or she leaves the apartment. Suppose it costs the renter $10 per year in expended effort to turn on the alarm system. What is the…

A large chain retailer purchases the new model Samsung phone from the Samsung store. Samsung admits that 60% of its stock is defective. An inspector randomly picks 12 of the phones from a shipment. What is the probability that exactly 10 of the phones will be defective and Less than 3 phones will be defective? Please provide full calculations