During the first three months of 2007, the daily exchange rate of one dollar in euros had the following distribution. X 0.73 0.74 0.75 0.76 0.77 0.78 P(x) 0.05 0.1 0.25 0.4 0.15 0.05 If the daily exchange rates are independent of one another, what is the probability that for two days on a row, the exchange rate will be above 0.75?
During the first three months of 2007, the daily exchange rate of one dollar in euros had the following distribution. X 0.73 0.74 0.75 0.76 0.77 0.78 P(x) 0.05 0.1 0.25 0.4 0.15 0.05 If the daily exchange rates are independent of one another, what is the probability that for two days on a row, the exchange rate will be above 0.75?
Chapter8: Sequences, Series,and Probability
Section8.7: Probability
Problem 11ECP: A manufacturer has determined that a machine averages one faulty unit for every 500 it produces....
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Question
During the first three months of 2007, the daily exchange rate of one dollar in euros had the following distribution.
|
X |
0.73 |
0.74 |
0.75 |
0.76 |
0.77 |
0.78 |
|
P(x) |
0.05 |
0.1 |
0.25 |
0.4 |
0.15 |
0.05 |
- If the daily exchange rates are independent of one another, what is the probability that for two days on a row, the exchange rate will be above 0.75?
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