Two motels are up for sale. The following two tables give the number of rooms rented per day together with the associated probabilities (P).   Motel 1 Number of rooms 5 6 7 8 9 10 P 0.06 0.11 0.33 0.23 0.2 0.07   Motel 2 Number of rooms 3 4 5 6 7 P 0.05 0.06 0.11 0.23 0.55 The average profit per room rented at the first motel is $28 and the average profit per room rented at the second motel is $37. Which motel will yield the higher daily profit? Motel 1 or Motel 2

The accompanying table shows, for credit-card holders with one to three cards, the joint probabilities for number of cards owned (X) and number of credit purchases made in a week (Y). Number ofCards (X) Number of Purchases in Week (Y) 0 1 2 3 4 1 2 3 0.08 0.03 0.01 0.13 0.08 0.03 0.09 0.08 0.06 0.06 0.09 0.08 0.03 0.07 0.08 a. For a randomly chosen person from this group, what is the probability distribution for number of purchases made in a week?b. For a person in this group who has three cards, what is the probability distribution for number of purchases made in a week?c. Are number of cards owned and number of purchases made statistically independent?

We are interested in analyzing data related to college football. Use S to denote the team is in the SEC and use W to denote a team has a winning season. The probability that a team is in the SEC in the data set is 5.5%. The probability that a team has a winning season is 52.5%. The probability that a team is in the SEC and has a winning season is 3.55%. What percentage of teams are in the SEC or had a winning season? b. What percentage of people teams are in the SEC and did NOT have a winning season? Given a team had a winning season, what is the probability that they are in the SEC? а. с.

A consultant has been hired to redesign a company's production facility. The consultant estimates the probabilities of her potential profit as shown in the table below. What is her profit expectation? $ Profit/Loss $40,000 $30,000 $20,000 $10,000 $5,000 Probability 0.06 0.20 0.38 0.30 0.06

How will I find the probabilities? Thanks in advance.

At a company, the employees were surveyed and classified according to their level of education and whether they smoked or not. The data are shown in the table.   High school graduate College graduate Smoke 09 19 Do not Smoke 17 25 If an employee is selected at random, find the following probabilities. (Round your answers to three decimal places) a. Employee smokes and is a college graduate.  b. Employee smokes or is a college graduate.  c. Employee smokes, given that he or she graduated from college.  d. Employee is a college graduate, given that he or she smokes.

Charlie buys a one-year term home insurance policy for $p, that will pay $200,000 in the event of a major catastrophe and $35,000 in the event of a minor catastrophe. Charlie's home has a 0.2% chance of a major catastrophe and a 0.7% of a minor catastrophe during the one year term.  What did the insurance company charge Charlie for this policy if the company expected to break even?

A rice importer has three sources: Thailand, Vietnam, and China. Unfortunately, the annual amount of rice harvested is heavily dependent upon the amount of rainfall during the growing season. The tables below show probabilities and prices for wet, dry, and normal growing seasons. Rice is sold in tons.   PROBABILITIES Wet Dry Normal Thailand 0.5 0.2 0.3 Vietnam 0.6 0.3 0.1 China 0.4 0.4 0.2     Price per Pound ($) Wet Dry Normal Thailand 0.95 1.10 1.00 Vietnam 0.85 1.20 0.98 China 0.90 1.15 1.05 Which country offers the best rice price?

Oxnard petri Ltd is buying hurricane insurance for it's off-coast drilling platform. During the next five years, the probability of total loss of only the above-water superstructure ($250 million) is .25, the probability of total loss of the facility ($950 million) is.25, and the probability of no loss is.50. Find the expected loss.( Input the amount as a positive value.) Expected Loss is what?

A consultant has been hired to redesign a company's production facility. The consultant estimates the probabilities of her potential profit as shown in the table below. What is her profit expectation? Profit/Loss Probability $40,000 $30,000 $20,000 $10,000 $5,000 0.08 0.30 0.38 0.20 0.04