ase in value), move down (decrease in value) or stay the same. In this case, an experiment consists of observing the price condition across the three stocks. Each of the three conditions (move up, move down, stay same) are equally likely. How many outcomes are in the sample space? List 7 of the outcomes. (use U for move up, D for moving down and S for staying the same) Let A be the event that all the stocks have the same performance. List the outcomes in A. Let B be the event that all of stocks are different. List the o

ase in value), move down (decrease in value) or stay the same. In this case, an experiment consists of observing the price condition across the three stocks. Each of the three conditions (move up, move down, stay same) are equally likely. How many outcomes are in the sample space? List 7 of the outcomes. (use U for move up, D for moving down and S for staying the same) Let A be the event that all the stocks have the same performance. List the outcomes in A. Let B be the event that all of stocks are different. List the o

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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An insurance company offers four different deductible levels-none, low, medium, and high-for its homeowner's policyholders and three different levels-low, medium, and high-for its automobile policyholders. The accompanying table gives proportions for the various categories of policyholders who have both types of insurance. For example, the proportion of individuals with both low homeowner's deductible and low auto deductible is 0.07 (7% of all such individuals). Auto L M H Homeowner's NLMH Suppose an individual having both types of policies is randomly selected. (a) What is the probability that the individual has a medium auto deductible and a high homeowner's deductible? 0.04 0.07 0.05 0.02 0.07 0.09 0.20 0.11 0.02 0.03 0.15 0.15 (b) What is the probability that the individual has a low auto deductible? A low homeowner's deductible? auto deductible homeowner's deductible (c) What is the probability that the individual is in the same category for both auto and homeowner's deductibles?…
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Q5//Four technicians regularly make repairs when breakdowns occur on an automated production line. Hamza, who services 20% of the breakdowns, makes an incomplete repair 1 time in 20; Yousof, who services 60% of the breakdowns, makes an incomplete repair 1 time in 10; Abdulrahman, who services 15% of the breakdowns, makes an incomplete repair 1 time in 10; and Mostafa, who services 5% of the breakdowns, makes an incomplete repair 1 time in 20. For the next problem with the production line diagnosed as being due to an initial repair that was incomplete, what is the probability that this initial repair was made by Hamza?
AutoWrecks, Inc. sells auto insurance. AutoWrecks keeps close tabs on its customers' driving records, updating its rates according to the trends indicated by these records. AutoWrecks' records indicate that, in a "typical" year, roughly 70% of the company's customers do not commit a moving violation, 10% commit exactly one moving violation, 15% commit exactly two moving violations, and 5% commit three or more moving violations. This past year's driving records for a random sample of 100 AutoWrecks customers are summarized by the first row of numbers in the table below. That row gives this year's observed frequency for each moving violation category for the sample of 100 AutoWrecks customers. The second row of numbers gives the frequencies expected for a sample of 100 AutoWrecks customers if the moving violations distribution for this year is the same as the distribution for a "typical" year. The bottom row of numbers contains the following value for each of the moving…
Corn crop yields vary by state. In 2008, IOWA averaged 172 bushels/acre. On September 3, 2009, the published market price per bushel was 319.25 cents/bushel. Jimmy Harold is analying a heavily leveraged purchase of some additional acreage, and his decision to purchase is based on the expected yield during his first crop year. After analyzing historical rainfall and long range weather forecasts, Jimmy compiled the following table of crop yields. rainfail yield(bu/acre) probability below average 154 0.15 average 172 0.4 above average 177 0.45 What is the expected corn crop yield, E[Y] based on the data in Jimmy's? E[Y] = (to 2 decimal places).
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The owner of a chain of mini-markets wants to compare the sales performance of two of her stores, Store 1 and Store 2. Sales can vary considerably depending on the day of the week and the season of the year, so she decides to eliminate such effects by making sure to record each store's sales on the same 12 days, chosen at random. She records the sales (in dollars) for each store on these days, as shown in the table below. 5 6 7 Day Store 1 Store 2 1 Difference (Store 1 - Store 2) Send data to calculator ✓ 2 3 786 878 827 645 708 500 699 140 Yes No 4 646 802 712 579 527 367 76 115 66 181 133 8 (a) State the null hypothesis H and the alternative hypothesis H₁. H:D H₁:0 (b) Determine the type of test statistic to use. Type of test statistic: (Choose one) ▼ 970 9 10 11 12 618 679 762 635 271 572 324 215 698 530 Based on these data, can the owner conclude, at the 0.05 level of significance, that the mean daily sales of the two stores differ? Answer this question by performing a hypothesis…
.A new, miracle diabetes drug that diminishes major symptoms of diabetes has been approved by the FDA. Health care professionals and researchers believe that the new drug will prolong lifespan of diabetes patients. If the population is in steady state and the incidence is constant, what will the effect of this new drug be on the prevalence of diabetes in the population? Explain.
Many investors and financial analysts believe the Dow Jones Industrial Average (DJIA) gives a good barometer of the overall stock market. On January 31, 2006, 9 of the 30 stocks making up the DJIA increased in price (The Wall Street Journal, February 1, 2006). On the basis of this fact, a financial analyst claims we can assume that 30% of the stocks traded on the New York Stock Exchange (NYSE) went up the same day.A sample of 80 stocks traded on the NYSE that day showed that 11 went up.You are conducting a study to see if the proportion of stocks that went up is is significantly less than 0.3. You use a significance level of α=0.02α=0.02.What is the test statistic for this sample? (Report answer accurate to three decimal places.)test statistic = What is the p-value for this sample? (Report answer accurate to four decimal places.)p-value = The p-value is... less than (or equal to) αα greater than αα This test statistic leads to a decision to... reject the null accept the null fail…
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