By investing in a stock, Mark can make a profit in one year of 5,000 with a probability of 0.3 or take a loss of 1,000 with a probability of 0.7. What is his expected gain per month?
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By investing in a stock, Mark can make a profit in one year of 5,000 with a
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- An insurance company sells a $20,000, seven-year term life insurance policy to an individual for $1,700. Find the expected return for the company if the probability the individual will live for the next seven years is 0.92. (Round your answer to the nearest cent.)$An insurance company sells a $11,500, five-year term life insurance policy to an individual for $860. Find the expected return for the company if the probability the individual will live for the next five years is 0.96. (Round your answer to the nearest cent.)Suppose you are producing an outdoor festival. You estimate that you will make $100000 if it does not rain and make $50000 if it does rain. The weather bureau predicts that the chance of rain is 35% for the day of the concert. What are your expected earnings for the festival?
- If the probability of rain tomorrow is 65%, what is the probability that it will not rain tomorrow?Suppose that it rains in Spain an average of once every 11 days, and when it does, hurricanes have a 9% chance of happening in Hartford. When it does not rain in Spain, hurricanes have a 3% chance of happening in Hartford. What is the probability that it rains in Spain when hurricanes happen in Hartford? (Round your answer to four decimal places.)The annual premium for a $20,000 insurance policy against the theft of a painting is $300. If the probability that the painting will be stolen during the year is 0.02, what is your expected return from the insurance company if you take out this insurance? Upload your answer with your work and explanations here
- If the probability that an individual will suffer a bad reaction to a given vaccine is 0.13. Determine the probability that out of 4 individuals, none will suffer a bad reaction. [The answer should be a number rounded to five decimal places, don't use symbols such as %]The probability that an applicant will be approved for a mortgage is 0.15. Each applicant has the same probability of being approved and the event that they are approved are independent. What is the probability that out of three applicants, exactly two of them get approved? Enter your answer as a decimal, with three decimal places. For example, if the probability is 15.37%, enter 0.154Ashley’s Internet service is terribly unreliable. In fact, on any given day, there is a 75% chance that her Internet connection will be lost at some point that day. What is the probability that her Internet service is not broken for five days in a row? Enter a fraction or round your answer to 4 decimal places, if necessary.
- Ashley’s Internet service is terribly unreliable. In fact, on any given day, there is a 60% chance that her Internet connection will be lost at some point that day. What is the probability that her Internet service is not broken for seven days in a row? Enter a fraction or round your answer to 4 decimal places, if necessary.The probability that A can solve a problem is 3/4 and B can solve it is 2/3. If both attempt the problem. What is the probability that the problem gets solved?Suppose you pay $500 per year to insure your car worth $10,000. The probability that you get in an accident, totaling the car, in any year is 0.001. Find your expected value of the insurance. Round your answer to the nearest dollar. Hint: if you get in the accident you will be paid $10,000. However, you already paid the $500, so you must use the net of $9,500.
