Business projection: An investor is considering an investment in a start-up company. She estimates that she has probability 0.39 of a $24,000 loss, probability 0.21 of a $6900 profit, probability 0.14 of a $38,000 profit, and probability 0.26 of breaking even (a profit of $0). What is the expected value of the profit? Would you advise the investor to make the investment? The expected value of the profit is $____

A gambler uses theory to calculate the probability of winning a card game and gets​ P(winning) = 0.10. Which option best describes the meaning of this​ probability?   A. He will win 10 times   B. In the long run he will win approximately​ 10% of the time   C. He will win on every 10th play   D. He is guaranteed to win exactly​ 10% of the time

Kramer wants to open a fruit stand. He figures his business can be really successful, moderately successful, barely successful, a failure, or a complete failure. Below is a table of all the possible outcomes, the estimated probability that each outcome will occur, and the profit Kramer will make for each out. What is the expected profit, in thousands, for this business? (Round your answer to the nearest two decimal places. Do not include the dollar sign ($) in your answer.) Outcome Really successful Moderately successful Failure P() 0.1 2 0.2 Complete failure 0.3 Barely successful ³1 5 0.2 8 Quarterly Profit ($, thousands) 0.0 2 30 16 -5 -25

Insurance: An insurance company sells a 1-year term life insurance policy to an 79-year-old woman. The woman pays a premium of $1800. If she dies within 1 year, the company will pay $39,000 to her beneficiary. According to the U.S. Centers for Disease Control and Prevention, the probability that an 79-year-old woman will be alive 1 year later is 0.9561. Let X be the profit made by the insurance company. Part 1 of 2 (a) Find the probability distribution. The probability distribution is X -37200 1800 P(x) 0.0439 0.9561 Alternate Answer: X P(x) Part: 1 / 2 Part 2 of 2 - 37,200 1800 0.0439 0.9561 (b) Find the expected value of the profit. Expected value of the profit is S X 00

An investor is considering a $30,000 investment in a start-up company. She estimates that she hasa probability of 0.30 of a $20,000 loss, probability of 0.20 of a $35,000 profit, probability of 0.35 of a$45,000 profit, and probability 0.15 of breaking even (a profit of $0). What is the expected value of theprofit? Would you advise the investor to make the investment? Explain why?

Insurance: An insurance company sells a 1-year term life insurance policy to an 80-year-old woman. The woman pays a premium of $4000. If she dies within 1 year, the company will pay $53,000 to her beneficiary. According to the U.S. Centers for Disease Control and Prevention, the probability that an 80-year-old woman will be alive 1 year later is 0.9259. Let X be the profit made by the insurance company. Part: 0 / 2 Part 1 of 2 (a) Find the probability distribution. The probability distribution is X P(x) 4000 ☑

A game at a local school fundraiser costs $5 to play and involves spinning an arrow which points at a single color. If it lands on green, you win youth concert tickets worth $20. Otherwise, you lose. The probability of the arrow landing on green is 10%. (a) What is the expected value of playing this game? (b) How much can the event organizers expect to raise if 500 people play this game?

Insurance: An insurance company sells a 1-year term life insurance policy to an 84-year-old woman. The woman pays a premium of $1400. If she dies within 1 year, the company will pay $46,000 to her beneficiary. According to the U.S. Centers for Disease Control and Prevention, the probability that an 84-year-old woman will be alive 1 year later is 0.9714. Let X be the profit made by the insurance company. Part: 0 / 2 Part 1 of 2 (a) Find the probability distribution. The probability distribution is x 1400 X P(x)

Each day, John's mother gives him money before he goes to school: 50% of the time he gets $5, 35% of the time he gets $10 and the rest of the time he gets $20. Determine the expectation and variance for how much money John gets each day. For the next 100 school days, John plans to save all the money his mother gives him. What is the approximate probability he is able to save more than $1000? Assume independence. If he realizes he has to spend an average of $4 a day with a standard deviation of $0.75, what is the approximate probability that he saves less than $400? Assume independence.