MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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an LG dishwasher cost 800$, has a 20% chance of needing to be replaced in the first two years of purchace. A two-year extended warrenty cost 112.10$ on a dish washer. what is the
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- A device is insured against early failure. The lifetime of the device (after being bought) is exponentially distributed with an expected lifetime of 4 years. The insurance will pay Php28000 if the device fails within its first year, and Php14000 if the device fails within its second year. If the device fails after the second year, then the insurance pays nothing. Determine the expected value (in Php) that the insurance will pay for a single device. You may enter your answer to the nearest whole number.Note that "within the first year" means in the interval (0,1] years and "within the second year" means in the interval (1,2] years.arrow_forwardThe chance of winning a lottery game is 1 in approximately 22 million. Suppose you buy a $1 lottery ticket in anticipation of winning the $6 million grand prize. Calculate your expected net winnings for this single ticket. Interpret the result.arrow_forwardA company offers a 2-year warranty on a product for $35. Replacing the product to the consumer who purchases the warranty costs the company $200. The quality control division estimates that 0.25% of their products will fail within the fırst 2 years. What is the company's expected value for each warranty sold?arrow_forward
- Explain whether small cap stocks returns are actually normally distributed. Provide 1 example to support your answer.arrow_forwardConstruct and interpret a 95% prediction interval for the proceeds when the number of issues is 587.(Round to the nearest million dollars as needed. Type your answer in standard form where "3.12 million" means 3,120,000.)arrow_forwardFind the probability that the total number of breakdowns that occur in a particular 4-week period is exactly 10, giving the answer to 4 decimal places.arrow_forward
- If the probability that your DVD player breaks down before the extended warranty expires is 0.039, what is the probability that the player will not break down before the warranty expires?arrow_forwardJack invests in a mutual fund with annual returns that follow a Normal model with mean14% and standard deviation 9%. What is the probability Jack makes between 10% and 30%?arrow_forwardIt has rained for 18 days out of the last 30. Using this information, what is the likelihood that it will rain tomorrow?arrow_forward
- A bag contains 2 red balls worth £3, 2 blue balls worth £2 and 5 green balls worth £0. You pick 1 ball out of the bag (without replacement). What the expected value of earnings from playing this game once (3 decimal places).arrow_forwardHellen has just started a new years competition for her local climbing gym. There are two categories for this competition: singles and group (18 people). The rules are simple, put in the most hours in one months time and you get a guided tour to climb Ten Sleep canyon. She knows from running this competition over the years that the number of hours climbers at her gym spend training during this competiton is approximately normal and their mean competition hours per month in the gym are 24 hrs with a standard devaition of 6 hrs If someone puts in between 25.5-32.1 hours on the wall they get a Mountain Goat shirt. What percent of the singles competitors is expected to get a shirt? In the group stage this year the winning group was in the 81 th percentile. What was their average time? The group stage is up for getting Gecko Socks if they also land between 25.5-32.1 hours on the wall on average. What prercent of the groups are expected to qualify for the socks?arrow_forwardJack invests in a mutual fund with annual returns that follow a Normal model with mean 14% and standard deviation 9%. What is the probability Jack obtains an annual return greater than 25%?arrow_forward
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