4. If a person rolls doubles when he tossed two dice, he wins Php5. For the game to be fair, how much should the person pay to play for the game? 5. If a 60-year-old buys a Php1000 life insurance policy at a cost of Php60 and has a probability of 0.972 of living to age 61, find the expectation of the policy.

Q: Martin Coleman, credit manager for Beck’s, knows that the company uses three methods to encourage…

A: Let us denote: C=called on personally, P=phoned, L=letter, D=collecting an overdue amount form an…

Q: If the student has 2 alarm clocks and they have a 13.4% failure rate, what is the probability that…

A: The failure rate of the alarm clock is 0.134.

Q: If two balanced dice are rolled, what is the probability that the sum of  two numbers that appear…

A:

Q: If the probability of a person winning on a scratch-off lottery ticket is 0.375, the odds of losing…

A: From the provided information, The probability of a person winning on a scratch-off lottery ticket…

Q: Suppose you bet $8 on a horse at your favorite race track who's odds of winning are 3/8. A) what…

A: Part (A) Let A be the event represents the winning of horse. Given that, odds of winning the race is…

Q: if two dice are cast, what is the probability that the sum will be less than 5?

A: Two dice are thrown together. Nedd to find the probability that numbers on the two faces sum/add is…

Q: If the average number of visitors to a bank is six people per minute, then the probability of two…

A:

Q: An American roulette wheel has 38 spaces and if a player wins they keep their bet. Suppose that a…

A:

Q: A contractor is considering a sale that promises a profit of $33,000 with a probability of 0.7 or a…

A: Given Information: Probability of making profit of $33,000 is 0.7 And probability of making a loss…

Q: What is the probability that a sale will be made before the fourth sales call if the probability you…

A: From the given  information, Probability of success (he made sale call) = 0.17 p=0.17q=1-0.17  =0.83…

Q: In the game of​ roulette, a player can place a ​$8 bet on the number 22 and have a 138…

A:

Q: Suppose you have the opportunity to place a bet on an NBA playoff game. On Friday, June 11th, the…

A: As a result,  Profit×probability of winning- loss×probability of loss=0 If one wins, the individual…

Q: What is the probability that the sum will reach 7 or 10 in one roll of two dice?

A: In rolling a dice following possible outcomes is observed {(1,1),(1,2),(1,3),(1,4),(1,5),(1,6)…

Q: 2. A young couple plans to have a family with four children. Assuming that the behavior of their…

A:

Q: The probability of loosing a game was estimated as  0.6 . What is the probability to win this game?

A:

Q: According to the tables used by insurance companies, a 39-year old woman has a 0.163% chance of…

A:

Q: If an average of 40 service calls are required during a typical eight hour shift in amunufacturing…

A: Given : An average of 40 service calls are required during a typical eight hour shift in…

Q: Martin Coleman, credit manager for Beck’s, knows that the company uses three methods to encourage…

A: Given that, P(personally) = 0.70 P(phone call) = 0.20 P(letter) = 0.10 P(Received| personally)=0.75…

Q: 4. What is the probability of the cost exceeding $700,000?

A: Probability: Probability is a chance factor that occurs at every outcome of a random experiment. It…

Q: According to the U.S. Census Bureau, the probability a randomly selected worker primarily drives a…

A: Given :  Probability a randomly selected worker primarily drives a car to work is 0.76 , P(private…

Q: On a certain stretch of the East Coast Expressway, on average three birds per week are killed…

A: As per guidelines we will solve the first question only, please repost other questions for more…

Q: If the rent for a renewing tenant is $25/sf and the rent for a new tenant is $28/sf, what is the…

A: Given that: Renewing tenant is $25 and a new tenant is $28. We have to calculate expected occupancy…

Q: An engineering enterprise can make profits of (500,000$, 700,000$, 680,000$, 310,000$, 440,000$)…

A: Solution: Let X represent the amount of enterprise.  The amount of X and their corresponding…

Q: In the game of roulette, a player can place a $5 bet on the number 9 and have a an probability of…

A: P(winning) = 1/38 Amount on winning = 175 P(loss) = 1-1/38 = 37/38 Amount on losing = -5

Q: The average number of homes sold by the Fidelity Realty company is 3 homes per day. What is the…

A: Solution

Q: 4. What is the probability that none of the first four customers gets over a 20% discount? 5. What…

A: Given Information: Discount Probability 10% off 0.50 15% off 0.25 20% off 0.15 30% off…

Q: If a shopkeeper earns  $400 a day when it's weekend and $ 300 when its working day. What should be…

A: Given, If a shopkeeper earns  $400 a day when it's weekend and $ 300 when its working day. The…

Q: The manager of Madison Finance Company has estimated that, because of a recession year, 5% of its…

A: Given information:Number of loans (n) = 400Probability that a loan will be delinquent (p) = 0.05.…

Q: If the probability of a person winning on a scratch-off lottery ticket is 0.375, the odds of winning…

A:

Q: Suppose the probability of an IRs audit is 4.2 percent for U.S taxpayers who file form 1040 and who…

A:

Q: Suppose you pay $5 to roll a fair dice. If the top face shows an odd number, you win $0 but if it…

A: Cost of rolling a fair dice=5 Amount you win if odd number shows=0 Amount you win if even number…

Q: What is the probability that the principal is present and makes a purchase when the sales agent…

A: The probability that a school principal is present when a sales agent calls is0.8.

Q: What is the expected value of your bet

A: here given, you and a friend are playing cards and decide to make a bet. If you draw two clubs in…

Q: An airline is planning its staffing needs for the next year. If a new route is approved, it will…

A:

Q: Suppose that you and a friend are playing cards and decide to make a bet. If you draw three fives in…

A: GivenIf you draw three fives in succession from a standard deck of 52 cards with replacement, you…

Q: A businessman must decide whether to open a new mini grocery branch or simply extend the number of…

A: The payoff of existing branch is 150,000. The probability that the demand will be low at the new…

Q: Suppose that you fip a coin 13 times. What is the probability that you achieve at least 7 taits?

A: Binomial Distribution: It is used to obtain the probability of successes in some n number of…

Q: If a player rolls 2 dice and gets a sum of 3 or 11, he wins $10. If he gets a sum of 7, he pays $5.…

A:

Q: In the game of roulette, a player can place a $10 bet on the number 17 and have a 25 probability of…

A:

Q: that the event will fa

A: We know that the, if probability of occurrence of an event is m/n then odd against the event, is…

Q: At the local cell phone store, the 5.22 Cell phone and case probability that a customer who walks in…

A: Consider the events A and B as customer will purchase a new cell phone and customer will purchase a…

Q: suppose the probability of taxpayer audit is 1.1 percent for u.s taxpayers who file form 1040 and…

A: The probability of taxpayer audit is 1.1 percent for U.S. taxpayers who file form 1040 and who…

Q: The lifespan of a car battery is normally distributed with µ = 5 years and σ = 1.2 years. What is…

A:

Q: If two dices are rolled, what is the probability that the sum of the up-turned faces will equal 7?

A: In this case, the sample space when two dices are rolled is shown below:

Q: In the game of roulette, a player can place a $5 bet on the number 7 and have a 1/38 probability of…

A: E[x] = ∑xP(x) P(x) = 1/38 , x = 175  and....

Q: 2. If an insurance company issues a $200,000 five-year policy on a man whose probability of living…

A: It is given that an insurance company issues a $200000 five years policy on a man whose probability…

Q: A railroad between Fairbanks and the Brooks Range in Alaska will have a most likely construction…

A: From the given data: Condition X (cost) P(X) Less permafrost 932699*0.75=699524.25 0.2 Stable…

Contingency Table

A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.

Binomial Distribution

Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.