You can insure a $50,000 diamond for its total value by paying a yearly premium of D dollars. Let X be the yearly gain to the insurance company resulting from the sale of the policy. If the diamond is not stolen during the year, the insurance company will gain the premium of D dollars. If the diamond is stolen during the year, the insurance company will loose $50,000 minus the premium of D dollars which they have already collected. If the probability of theft in a given year is estimated to be 0.01, what premium should the insurance company charge if it wants the expected gain to equal $1000? [Hint: Start by trying to write the pmf of X using the following table.] p(x) Т

There are 6 male students and 17 female students in a class.If you choose 2 students at random, find the probability that both are female.Answer with a fraction or give four decimal places.

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?

Find the probability of purchasing a ticket with a number whose sums of the first three and last three digits are equal if it has six digits and may be any number from 000000 to 999999.

If she made the last free throw, then her probability of making the next one is 0.6. On the other hand, If she missed the last free throw, then her probability of making the next one is 0.5.

At LSU the probability that a student takes first semester calculus and first semester physics is 0.6. The probability that a student takes first semester calculus given that the student takes first semester physics is 0.88. Find the probability that a student takes first semester physics.

Find the probability of purchasing a ticket with a number whose sums of the first three and last three digits are equal if it has six digits and may be any number from 000000 to 999999.

Find the probability of throwing a sum of 8 at least 2 times 8 throws of a pair of fair 6-sided dice. Answer to the nearest 0.0001.

Suppose an oil company is thinking of buying some land for $950,000. There is a 60% chance of economic growth and a 40% chance of recession. The probability of discovering oil is 46% when there is economic growth and 34% 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%. If there is a recession and the company discovers oil, the value of the land will increase by 50%. If they do not discover oil, the land will decrease in value by 75%. What is the expected value of the investment? Give your answer to the nearest dollar. Avoid rounding within calculations.

The exponential variable describes time between trains to NYC's subway station in the Downtown. The average  number of trains is 8 per one hour. Find the probability that more than 10 minutes will elapse between two trains?