Police plan to enforce speed limits by using radar traps at four different locations within the city limits. The radar traps at each of the locations L1, L, L3, and La will be operated 20%, 30%, 40%, and 30% of the time. A person who is speeding on her way to work has probabilities of 0.2, 0.1, 0.5, and 0.2, respectively, of passing through these locations. If the person received a speeding tícket on her way to work, what is the probability that she passed through the radar trap located at L4? If the person received a speeding ticket on her way to work, the probability that she passed through the radar trap located at L4 is (Type an integer or a simplified fraction.) Enter your answer in the answer box and then click Check Answer All parts showing Clear All Check Answer

Bob, the proprietor of Midway Lumber, bases his projections for the annual revenues of the company on the performance of the housing market. He rates the performance of the market as very strong, strong, normal, weak, or very weak. For the next year, Bob estimates that the probabilities for these outcomes are 0.15, 0.25, 0.39, 0.09, and 0.12, respectively. He also thinks that the revenues corresponding to these outcomes are $23, $18.6, $16.9, $14, and $6 million, respectively. What is Bob's expected revenue for next year?

The proprietor of Midland Construction Company has to decide between two projects. He estimates that the first project will yield a profit of $160,000 with a probability of 0.7 or a profit of $120,000 with a probability of 0.3; the second project will yield a profit of $220,000 with a probability of 0.6 or a profit of $70,000 with a probability of 0.4.Find the expected profit for each project. first project $ second project      $ Which project should the proprietor choose if he wants to maximize his expected profit? first project second project

Becky and Carla take an advanced yoga class. Becky can hold 29% of her poses for over a minute, while Carla can hold 35% of her poses for over a minute. Suppose each yoga student is asked to hold 50 poses. Let B the proportion of poses Becky can hold for over a minute and C = the proportion of poses Carla can hold for over a minute. What is the probability that Becky's proportion of poses held for over a minute is greater than Carla's? Find the z-table here. O 0.159 O 0,259 0 0.448 O 0,741 Save and Exit Next Submit Math and rem 96 & 7 8 9. 10

Suppose an oil company is thinking of buying some land for $10,000,000. There is a 60%60% chance of economic growth and a 40%40% chance of recession. The probability of discovering oil is 44%44% when there is economic growth and 32%32% when there is a recession. If there is economic growth and the oil company discovers oil, the value of the land will triple. If they do not discover oil, the value of the land will decrease by 10%.10%. If there is a recession and the company discovers oil, the value of the land will increase by 50%.50%. If they do not discover oil, the land will decrease in value by 75%.75%. What is the expected value of the investment? Give your answer to the nearest dollar. Avoid rounding within calculations. $$     Select the correct interpretation of the expected value. The expected value represents what the actual investment value will be for this land purchase of $10,000,000. The company should make the investment because the expected value…

Brian, a landscape architect, submitted a bid on each of three home landscaping projects. He estimates that the probabilities of winning the bid on Project A, Project B, and Project C are 0.7, 0.5, and 0.2, respectively. Assume that the probability of winning a bid on one of the three projects is independent of winning or losing the bids on the other two projects. Find the probability that Brian will experience the following. (a) Win all three of the bids (b) Win exactly two of the bids (c) Win exactly one bid

Lumina Retail has just bought a chain of appliance stores. Lumina received an offer from Comfort Cubbies to purchase the Wyndham branch store for $120,000. Lumina has determined probability estimates of the store's future profitability, based on historical projections as: P($80,000) = .2, P($100,000) = .3, P($120,000) = .1, and P($140,000) = .4. Your best friend's family owns Lumina and they asked you for advice. What do you recommend? Choose the BEST option. Group of answer choices Yes, sell the branch. Your highest payoff is $140,000. Yes, sell the branch. Your highest payoff is $120,000. No, do not sell the branch. Your highest payoff is $140,000. You need more information to help them decide. No, do not sell the branch. Your highest payoff is $114,000.st payoff is $140,000.

An option to buy a stock is priced at $150. If the stock closes above 30 next Thursday, the option willbe worth $1000. If it closes below 20, the option will be worth nothing, and if it closes between 20and 30, the option will be worth $200. A trader thinks there is a 50% chance that the stock will closein the 20-30 range, a 20% chance that it will close above 30, and a 30% chance that it will fall below20. a) Create a valid probability table.b) How much should the trader expect to gain or lose?c) Should the trader buy the stock? Why?