The probability of a successful rocket launching equals 0.81. Suppose that the launching attempts are made until 2 successful launchings have occurred. Each launching attempt 4900. In addition, a launching failure results in an additional cost of 460. What is the expected cost of the situation described?

An outdoor hot dog vendor sells an average of 70 hot dogs per day in dry weather and an average of 25 hot dogs in rainy weather. If the weather in this area is rainy 20% if the time, determine the expected number of hot dogs sold per day.

The time it takes an employee to package the components of a certain product is normally distributed with ? = 7.5 and ? = 1.5 minutes. As an incentive, management has decided to give a bonus to the 25% of employees who took the shortest amount of time to package the components. Find the amount of time taken to package the components that will indicate that an employee should get a bonus. (Round your answer to two decimal places.) An employee must package components in a time     minutes.

Plot the appraisal price in dollars that can be paid for combined lease bonus and speculative drilling cost using the following risk: 1,5, and 10 %. The prospect is a 80- acre tract, pay thickness is 100 ft. The probability of dry hole is set at 50%. If the well is successful, recovery in bbls per acre-ft may be as low as 100 to as high as 200, with most probable recovery being 150 bbl/acre-ft. Operating profit may be taken as $ 3 per barrel. Completion costs for a successful well will exceed the cost of a dry well by $40,000. Assume the exploration budget is 0, 3, 6 and 10 MM dollars