ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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They need to be probabilities and there should be six answer 1-a-b etc
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- two sub part of one question So anwer both a and b Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.arrow_forward21 Los Angeles averages 266.5 sunny days per year. What is probability that Boston has at least as many sunny days as Los Angeles? a 0.0020 b 0.0031 c 0.0047 d 0.0073arrow_forward1. A sales man, figure that a contract results in a sale with 2. During a given day, he contacted two prospective clients. Calculate the probability distribution for X, the number of clients who signed the sales contract, so that the variance and standard deviation is found.arrow_forward
- The proportion of vehicles which drive above the speed limit on a freeway is 85%. Suppose 100 vehicles are randomly clocked. 20 If each speeding vehicle is issued a $185 speeding ticket, the expected value of the ticket amount is $________. a $15,725 b $14,560 c $13,480 d $12,485arrow_forwardThe probability distribution of the daily number of customers at the YumYum is given below. Daily number of customers Probability 20 0.2 40 0.3 60 0.4 80 0.1 What is the probability that on a given day the YumYum has less than 70 customers? Group of answer choices 0.1 0.8 0.9 0.5 thanks for helparrow_forward15arrow_forward
- 5. A shipment of 24 electric stoves is rejected if three 3 are checked for defects and at least one 1 is found ton be defective. Find the probability that the shipment will be returned if there are actually six stoves that are defectives.arrow_forwardAssume you are faced with two decision alternatives and two states of nature whose profit payoff table is shown below. Decision Alternative State of Nature 1 State of Nature 2 Decision 1 25 30 Decision 2 45 15 The probability of state of nature 1 is 0.4.(a) Compute the expected value of each alternative.(b) Which decision is the optimal decision?(c) Compute the expected value with perfect information.(d) Compute the expected value of perfect information.arrow_forward1. Suppose the prices of used cars in the market are normally distributed with a mean of $15,000 and a standard deviation of $7,5000. What is the probability of selecting a car from this market and its priced above $20,000.arrow_forward
- The probability distribution for the number of automobiles sold during a day (x) at Bob Iron Motors isas follows. x f(x) 0 0.001 1 0.007 2 0.034 3 0.099 4 0.188 5 6 0.220 7 0.136 8 0.055 9 0.015 10 0.001 17 The probability that 5 automobiles will be sold is,a 0.232b 0.244c 0.257d 0.271arrow_forwardQuestion 15 Suppose X is a random variable taking values 0, 1, 2, 3, 4, 5 with equal probability. What is the variance of X?arrow_forward6 Company “X Star" supplies electronic devices. Probability of purchasing a defective device is 0.3. Mr. Chang has purchased two devices. (a) What is the probability that at least one device purchased by Mr. Chang is good? (b) What is the probability that at least one device purchased by Mr. Chang is defective?arrow_forward
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