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- Suppose each of 1000 players face a challenge in which a Bernoulli trial is repeated until the first success, that each attempt is independent of the others, and the chance of success on each attempt is p = 1/1000To the nearest whole number, how many of the 1000 players will achieve the first success within 1000 attempts, on average? THE ANSWER IS NOT 1, 500 OR 1000Suppose that 2 balls are randomly selected (without replacement) from an urn containing 3 red, 4 blue, and 5 white balls. If we let X and Y denote, respectively, the number of red and white balls chosen. Solve for P(X=2).A purchaser of transistors buys them in lots of 20. It is his policy to randomly inspect 4components from a lot and to accept the lot if at least 3 are nondefective. Suppose eachlot contains exactly five defective transisters. What proportion of lots are rejected?
- Assume that there is a 6% rate of disk filure in a year. a) If all your computer data storage is stored on a hard drive with a copy stored on a second hard disk drive, what is the probabiblity that during that year you can avoid catastrophe with at least one working drive? b) If copies of all your computer data are stored on three independent hard disk drives, what is the probablility that during a year you can avoid catastrophe with at least one working drive?Suppose a company charges a premium of $150 per year for an insurance policy for storm damage to roofs. Actuarial studies show that in case of a storm, the insurance company will pay out an average of $8000 for damage to a composition shingle roof and an average of $12,000 for damage to a shake roof. They also determine that out of every 10,000 policies, there are 7 claims per year made on composition shingle roofs and 11 claims per year made on shake roofs. What is the company’s expected value (i.e., expected profit) per year of a storm insurance policy? What annual profit can the company expect if it issues 1000 such policies? Determine the probability of a composition shingle roof claim out of 10,000 = ______ Determine the probability of a shake roof claim out of 10,000 = ______ How many claims are made out of 10,000? = _______ What is the probability of no claims out of 10,000? = _______ How much does each shingle roof claim cost the company, don’t forget each person pays $150…When the health dept. tested private wells in a county for 2 impurities commonly found in drinking water, it found that 20% of the wells had neither impurity, 30% had impurity A, 40% had impurity B, and 10% had both impurities. If 20 wells are randomly inspected from those in the county, find the prob. that 10 had neither impurity, 4 had impurity A, 4 had impurity B,and 2 had both impurities (rounded odd to 4 decimal places).. A. 0.0001 B. 0.1011 C. 0.2900 D. 0.9990
- 2.A machine puts out 16 imperfect articles in a sample of 500.After themachine is overbauled it turns 3 imperfect articles in a batch of 100.Has themachine improved?A project requires an initial outlay of $92000 and produces a return of $30000 at the end of year 1, $40000 at the end of year 2, and $42xyz at the end of year 3, where x, y, z are the last three digits of your student code (for example: if a student code is 17071365 then x = 3, y = 6, z = 5 and $42xyz=$42365). a/ Use the trial-and-error method or another appropriate method to determine the internal rate of return IRRof the project (express IRR in percentage, rounded to one decimal place); b/ Find the net present value NPV of the project if the market rate r is equal to the value of IRR as found above, then give a comment.If an event consists of three stages, where the third stage can happen in n ways and the first and second stages can each happen in m ways, then the complete event can take place in x ways, where x is equal to...
- This is a recurrence relations problem In Mayville, 90% of the existing dog licenses are reissued each year, and 1200 new licenses are issued. in 1995 there were 15,000 dog licenses issued. a. Write a difference equation and inital conditions describing the number of dog licenses Mayville will issue n years after 1995. b. How many dog licenses will Mayville issue in 2004? c. If the present trend continues, how many dog licenses can Mayville expect to issue after many years?A certain sample of E. Coli has 2.5 times the population every hour. If the sample began with 50 cells, which of the following is closest to the population of the sample after 4 hours?Suppose that 2 balls are randomly selected (without replacement) from an urn containing 3 red, 4 blue, and 5 white balls. If we let X and Y denote, respectively, the number of red and white balls chosen. a)Solve for P(x=2) b) Solve for the probability that y is atleast 1 c) Solve for P(x>0)
