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- Probability Possible Rate of Return 0.25 -0.10 0.15 0.00 0.35 0.10 0.25 0.25 a. Under what conditions can the standard deviation be used to measure the relative risk of two investments? b. Under what conditions must the coefficient of variation (CoVar) be used to measure the relative risk of two investments?The weekly salary paid to employees of a small company that supplies part-time laborers averages s800 with a standard deviation of $500. (a) If the weekly salaries are normally distributed, estimate the fraction of employees that make more than $300 per week. (b) If every employee receives a year-end bonus that adds $100 to the paycheck in the final week, how does this change the normal model for that week? (c) If every employee receives a 5% salary increase for the next year, how does the normal model change? (d) If the lowest salary is $300 and the meltian salary is $550, does a normal model appear appropriate?Suppose that the distribution of Uber rides around the quoted arrival time is normally distributed. Themean waiting time (relative to the quoted time) is 0, with a standard deviation of 3 minutes.a. Using the empirical rule, what percentage of rides arrive within 3 minutes of the mean (3 minutesbefore to 3 minutes after)?b. Graphically depict the area that would need to be calculated to determine the probability ofwaiting more than 4 minutes for a ride. Explain your graph.
- 53. The annual demand for Prizdol, a prescription drugmanufactured and marketed by the NuFeel Company,is normally distributed with mean 50,000 and standarddeviation 12,000. Assume that demand during each ofthe next 10 years is an independent random numberfrom this distribution. NuFeel needs to determine howlarge a Prizdol plant to build to maximize its expectedprofit over the next 10 years. If the company builds aplant that can produce x units of Prizdol per year, it willcost $16 for each of these x units. NuFeel will produceonly the amount demanded each year, and each unit ofPrizdol produced will sell for $3.70. Each unit of Prizdol produced incurs a variable production cost of $0.20.It costs $0.40 per year to operate a unit of capacity.a. Among the capacity levels of 30,000, 35,000,40,000, 45,000, 50,000, 55,000, and 60,000 unitsper year, which level maximizes expected profit?Use simulation to answer this question.b. Using the capacity from your answer to part a,NuFeel can be 95%…a. A company produces lightbulbs whose life follows a normal distribution, with mean 1200 hours and standard deviation 250 hours. If we choose a lightbulb at random, what is the probability that its lifetime will be between 900 and 1300 hours? (answer in three decimal places)12. Weighted average of probabilities is classified as A. average rate of return B. expected rate of return C. past rate of return D. weighted rate of return
- ASAP Exercise 7-48 (Algo) (LO7-3) According to a government study among adults in the 25- to 34-year age group, the mean amount spent per year on reading and entertainment is $2,125. Assume that the distribution of the amounts spent follows the normal distribution with a standard deviation of $439. (Round your z-score computation to 2 decimal places and final answers to 2 decimal places.) a. What percent of the adults spend more than $2,400 per year on reading and entertainment? b. What percent spend between $2,400 and $3,400 per year on reading and entertainment? c. What percent spend less than $1,000 per year on reading and entertainment?It is sometimes said that, "Those who gamble the most are the ones who can least afford to lose." These people gamble because Group of answer choices the gambler has no family to consider if he/she dies. there is utility other than monetary to consider. the EMV is positive. the EMV is negativeThe power of a test is 0.981. What is the probability of a Type II error? (Round your answer to 3 decimal places)
- Suppose the profit a Honda dealership makes on the next 5 Accords it sells are:504, 1,027, 867, 1,434, 1,372. Calculate the standard deviation of the sample. (please express your answer using 2 decimal places).Suppose commute times in a large city are normally distributed and that 65.20% of commuters in this city take more than 22 minutes to commute one-way. If the standard deviation of such commutes is 6.5 minutes, what is the mean commute?In one of its Spring catalogs, L.L. Bean advertised footwear on 29 of its 192 catalog pages. Suppose we randomly surgery 20 pages. We are interested in the number of pages that advertise footwear. Each page may be picked at most once. Calculate the standard deviation