If a business owner, who is only interested in the bottom line, computes the expected value for the profit made in bidding on a project to be -$3,000, then this owner should not bid on this project. true or false?

Q: 35 year old man pays $191 for a one year life insurance policy with a coverage of $140,000 if the…

A: Given that a 35 year old man pays $191 for a one year life insurance policy with a coverage of…

Q: If 10% of the time Danny makes guacamole twice a month, 35% of the time he makes guacamole once a…

A: Using the given information we make a table Number of times (xi) 2 1 0 probability (pi)…

Q: In a carnival game, the probability that you win$100 is 0.04, the probability that you win$10 is…

A: Let x - winning amount. x 100 10 -5 P(x) 0.04 0.3 0.66

Q: Find the expected value to the company of a single policy if a person in this risk group has 90.5%…

A: Given: Insurance amount = Rs. 3000,000 Premium amount = Rs. 300,000

Q: ou are visiting a rainforest, but unfortunately, your insect repellent has run out. As a result, at…

A: Let us denote the random variable X as the time between successive bites. That is, X represents the…

Q: An insurance company sells a $10,000 one-year term life insurance policy to a customer at an annual…

A: Given problem Given that   An insurance company sells a $ 10,000 one-year term life insurance…

Q: Suppose you pay ​$1.00to roll a fair die with the understanding that you will get back $3 for…

A: Considers a random variable X that defines the outcome of a fair die. The probability of each…

Q: Suppose you want to build a diversified and risk-averse portfolio. However, there is one "dark…

A:

Q: An insurance company sells a $10,000 one-year term life insurance policy to a customer at an annual…

A: The amount of insurance is $10000. The amount of premium is $290. The probability that the person…

Q: What is the joint probability that a mortgage has two or more late monthly payments and does not…

A: Here define events mortgage holders default on their mortgage = D  late on at least two monthly…

Q: what is the expected return on portfolio made up of 40% of TATA ana 60% of BIRLA

A:

Q: A baseball player has a .315 batting average. In other words, he gets a hit with probability 0.315…

A: (a) This is the case of binomial, as there are only two possible outcomes which are independent and…

Q: The probability that a 28-year old male in the US will die within one year is approximately 0.001…

A: Given information:Probability that a 28-year old male in the US will die within one year is…

Q: Based on the present pandemic situation, a financial expert believes that under present economic…

A:

Q: A detective determines that he has a one in three chance of recovering stolen property. His…

A: Given : The detective have 1/3 chance of recovering the stolen property and , 2/3 chance of not…

Q: It is known that a game of chance costs $1 to purchase a ticket, and pays out $120 if you win. The…

A:

Q: Suppose that 5% of the time tucker goes to the movies twice a month, 10% of the time he goes to the…

A: The expected value for the number of times tucker goes to the movies during a month will be equal to…

Q: Cast Iron Company, on each nondelinquent sale, receives revenues with a present value of $1,280 and…

A:

Q: A private pilot wishes to insure his airplane for $200,000. The insurance company estimates that a…

A: Total Insurance Pilot wishes=$20,000 At, loss=100%, the claim amount is $20,000…

Q: The expected value of any term life insurance product yields a positive expected value for the…

A: As mentioned in the question insurance company will make profits by selling their insurance products…

Q: According to the U.S. Census Bureau, the probability a randomly selected worker primarily drives a…

A: Given :  Probability a randomly selected worker primarily drives a car to work is 0.76 , P(private…

Q: Downloading movies illegally is a crime, and a fine of $125.00 is enforced (for each movie…

A: Given: Fine amount = $125.00  n=3 downloaded movies

Q: A woman can earn Php 50,000 in one year with a probability of 0.35 or lose Php 15,000 over the same…

A:

Q: A security system sets a false alarm with probability 0.1, independently between applications of the…

A: Let us denote X=the number of false alarmsn=Total number of alarms p=probability of success=…

Q: Find the expected value.

A: Let X denote the rush X = 80 with a probability of 0.35  and X = 60 with a probability of 0.65…

Q: An engineering enterprise can make profits of (500,000$, 700,000$, 680,000$, 310,000$, 440,000$)…

A: Solution: Let X represent the amount of enterprise.  The amount of X and their corresponding…

Q: A company makes bobble head dolls. One out of every 5 is faulty, but the company doesn't know which…

A: Random variables are of 2 types, discrete and continuous. A discrete random variable can only take…

Q: The personnel director of a manufacturing company wants to estimate the average mechanical aptitude…

A: Given, Level of confidence C = 0.99 Level of Significance α =1-C = 0.01 Critical zα/2 = 2.58…

Q: A firm plans to bid Rs. 300 per tonne for a contract to supply 1000 tonnes of metal. It has two…

A:

Q: Suppose a company charges an annual premium of $110 for an insurance policy for minor injuries.…

A: Given: Company charges an annual premium of $110 for an insurance policy for minor injuries. Company…

Q: Based on our Starbucks analysis report, 4 out of every 20 drinks are returned because of a customer…

A: Solution: Let X be the amount of profit. There is 1620=0.8 probability of making $4 on a typical…

Q: Sam is applying for a single year life insurance policy worth $58,550.00 If the actuarial tables…

A: It is given that, Sam is applying for a single year life insurance policy worth $58,550.00. If the…

Q: Suppose there is a 0.9850 probability that you will not lose your iPhone before the end of the year.…

A: The probability of not loosing an iPhone is  0.9850 The probability of loosing it is 1-0.9850=0.015…

Q: Suppose there is a 0.9986 probability that a randomly selected 30-year-old male will live to the end…

A:

Q: Suppose that you arrive at a bus stop randomly, so all arrival times are equally likely. The bus…

A: Given The bus arrives regularly every 10 minutes without delay.

Q: What is the probability that the individual has a medium auto deductible and a high homeowner's…

A: Here AS PER POLICY I HAVE CALCULATED 3 SUBPART PLZ REPOST FOR REMAINING

Q: A box contains one each of $1, $5, $10, $20, and $100 bills. It costs $25 to reach in and withdraw…

A: Solution: Given data: A box contains one each of $1, $5, $10, $20, and $100 bills.  It costs $25 to…

Q: A concession stand at a pool tends to get $500 in profit on hot days, $300 on average days, and $200…

A: As per guideline expert have to answer first question only.

Q: Person A is going to fair flip a coin 130 times and count the number of heads. Person B is going to…

A: Given information: Given that the person A is going to fair flip a coin 130 times and the person B…

Q: Calculate the expected value for the number of bagels ordered by a randomly selected customer. 6…

A: Probability distribution table is given.Let X represent the number of bagels ordered by a randomly…

Q: Suppose that a couple eats out 3 times a week 10% of the time, eats out 2 times a week 20% of the…

A:

Q: A company estimates that 0.6% of their products will fail after the original warranty period but…

A: Outcome 1 = $35 Outcome 2 = -($300-$35) = -$265   Probability of outcome for $35 is 1-(0.6/100) =…

Q: A company makes bobble head dolls. One out of every 5 is faulty, but the company doesn't know which…

A: Random variables are of 2 types, discrete and continuous. A discrete random variable can only take…

Q: Two players are given an opportunity to play a game. They have identical, complete information about…

A: In the given case the two players follow different financial behavior. One player is unwilling to…

Q: What if I had an unfair coin flip game where a head had a likelihood of one in a million but a…

A: From the given information we have, The probability of head has an amount of $ 3000000 is = 1 / 1…

Q: A player tosses two fair coins. He wins $ 2 if 2 heads occur and $1 if 1 head occurs. On the other…

A:

Q: A small business is studying the number of customers that enter the store. They record the number of…

A: Given that 27% of the time two customers enter the store in an hour. 28% of the time of the time one…

Q: e insurance company has determined the probabilities for various claim amounts for drivers age 21 –…

A: The formula for the expected value is: , where x=data values/observationsp(x)=corresponding…

Q: By investing in a particular stock, a person can make a profit in one year of $4000 with probability…

A: Let x denotes the person's profit when invested in particular stock. The probability distribution…

Contingency Table

A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.

Binomial Distribution

Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.