In search of... A group of deep-sea divers approaches you with a proposition. They are 60% certain that they know where an ancient shipw reck is; they are also 50% certain that there is a treasure worth about $2,000,000; and finally they are 70% certain that they will be able to get to it. They want you to invest $200,000 in this expedition. If they find the buried treasure, you receive $1,000,000. What is the expected value of this investment?
In search of... A group of deep-sea divers approaches you with a proposition. They are 60% certain that they know where an ancient shipw reck is; they are also 50% certain that there is a treasure worth about $2,000,000; and finally they are 70% certain that they will be able to get to it. They want you to invest $200,000 in this expedition. If they find the buried treasure, you receive $1,000,000. What is the expected value of this investment?
In search of... A group of deep-sea divers approaches you with a proposition. They are 60% certain that they know where an ancient shipw reck is; they are also 50% certain that there is a treasure worth about $2,000,000; and finally they are 70% certain that they will be able to get to it. They want you to invest $200,000 in this expedition. If they find the buried treasure, you receive $1,000,000. What is the expected value of this investment?
. Jane Tarheel is producing “Beat Dook” T-shirts to see outside the Dean Dome beforethe big game. She plans to sell the t-shirts, which cost her $6 to make, for $12.Rose’s Department Store has offered to purchase any leftover t-shirts for $2. Janeisn’t sure how much demand will exist for her shirts, but she knows it will be between100 and 300 shirts. Lacking any better information, she assume any value within thatrange is equally likely (i.e., demand is distributed uniformly between 100 and 300).How many shirts should Jane produce?
Hello .. could you answer this question as soon as possible step by step..Thanks in advance.
Help me fast...I will give Upvote....
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Discrete Distributions: Binomial, Poisson and Hypergeometric | Statistics for Data Science; Author: Dr. Bharatendra Rai;https://www.youtube.com/watch?v=lHhyy4JMigg;License: Standard Youtube License