A First Course in Probability (10th Edition)
10th Edition
ISBN: 9780134753119
Author: Sheldon Ross
Publisher: PEARSON
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Question
In the table below x denotes the X-Tract Company’s projected annual profit (in $1,000). The table also shows the |
x | f(x) | x = profit | ||
-100 | 0.01 | f(x) = probability | ||
-200 | 0.04 | |||
0 | ||||
100 | 0.26 | |||
200 | 0.54 | |||
300 | 0.05 | |||
400 | 0.02 |
13 | If we quadruple each value in the profit column above, the new |
|||||||
a | $616 | |||||||
b | $604 | |||||||
c | $592 | |||||||
d | $580 |
Expert Solution
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Step 1
HERE
x = denotes the X-Tract Company’s projected annual profit (in $1,000).
The table also shows the probability of earning that profit.
The negative value indicates a loss.
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