An individual who owns the ice cream concession at a sporting event can expect to net $600 on the sale of ice cream if the day is sunny, but only $300 if it is cloudy, and $100 if it rains. The respective probabilities for those events are 0.6, 0.3, and 0.1. What is his expected  profit?

Q: Q2. In some investment company the manager is preparing to call on a potential new client. The…

A: The probability is calculated in statistics and mathematics.

Q: A magazine subscription service is having a contest in which the prize is $40,000. If the company…

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Q: Mohammed has bought a television from Samsung at a cost of 400 R.O. He has an option of buying an…

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Q: A magazine subscription service is having a contest in which the prize is $270,000. If the company…

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A: Given Data: Prize (x) P(x) x P(x) 4300 0.2 860 7800 0.15 1170

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A: Introduction: Bayes’ theorem: Consider events A1, A2, …, Ak, and B (non-null). Now, the probability…

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Q: From the perspective of the 31-year-old male, what are the monetary values corresponding to the two…

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Q: is sale records, a salesman knows that his weekly commissions have the probabilities shown below.…

A: The expectation formula is:

Q: given the following probabilities, which event is most likely to occur? a) P(B) = 1/4 b) P(C) =…

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Q: Does it pay to ask for a raise? A national survey of heads of households showed the percentage of…

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A: According to the provided question

Q: Suppose that an antique jewelry dealer is interested in purchasing a gold necklace for which the…

A: Expected profit = 0.2*350 + 0.4*150 + 0.28*0 + 0.12*(-150) = 112

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Q: What is her mathematical expectation if the probabilities of her getting an A or B are 0.32 and…

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Q: In business, it is important to plan and carry out research in order to anticipate what will occur…

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Q: The XY Manufacturing Company must decide whether to manufacture acomponent part at its plant or…

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A: a.

Q: (b) Determine the following probabilities

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Q: ame show contestant is offered the option of receiving a computer system worth $2100 or accepting a…

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Q: Q2. In some investment company the manager is preparing to call on a potential new client. The…

A: Given: Outcome P(Outcome) $0 0.8 $1500 0.1 $4000 0.03 $15000 0.07 Sum 1

Q: Does it pay to ask for a raise? A national survey of heads of households showed the percentage of…

A: Given: The raise was asked by 20% of the men and 64% of the men who asked for a raise received it.

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Q: On the basis of his sale records, a salesman knows that his weekly commissions have the…

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Q: If the famous insurance company, Lloyd’s of London, insures a $3 million Monet painting for $5000…

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Q: Find the following probabilities. (a) P(X = 2) (b) P(X <2)

A:

Q: t the beginning of each day, a patient in the hospital is classifed into one of the three…

A: Let the conditions good, fair, critical, improved, unimproved and dead be represented as G,F,C,I,U,D