(i) Calculate the probability that the demand for trucks on a particular day can be met. (ii) Write the probability distribution for the daily income received from the truck rental. (iii) Find the expected daily income received from the rental.

Q: What are the requirements for a probability distribution?

A: A probability density function must satisfy two requirements: (1) f(x) must be nonnegative for each…

Q: What is probability distribution (continuous)?

A:

Q: Use the probability distribution to find a) standard deviation b) expected value of the probability…

A: a) The table shows the probability distribution.

Q: The probabilities of a return on an investment of $5000, $7000, and $9000 are 1 2 , 3 8 and 1 8…

A: Given Information: The probabilities of a return on an investment of $5000, $7000, and $9000 are…

Q: An automobile insurance company has determined the probabilities for various claim amounts for…

A:

Q: a. What is the probability that the dealer will sell less than 3 refrigerators next week? b. Find…

A:

Q: the variance of the probability distribution

A: It is given that k=1/6.

Q: The owner of a local movie theater keeps track of the number of tickets sold in each purchase and…

A: Given data is Number of Tickets 1 2 3 4 5 Probability 0.29 0.44 0.19 0.06 0.02

Q: Find the probability distribution of the sum of the dots when two fair dice are thrown? a) Use the…

A: The number of dice rolled is 2.

Q: A college graduate is searching for job. He/she already has an job offer that pays $60,000 per year.…

A:

Q: In a product liability​ case, a company can settle out of court for a loss of​ $350,000, or go to​…

A: Given Data: Loss if company settle out of court=350000 Loss if company takes case to the court and…

Q: Suppose the time to process a loan application follows a uniform distribution over the range 6 to 17…

A: Given : Suppose the time to process a loan application follows a uniform distribution over the range…

Q: Describe what the expected value or mean of a probability distribution represents geometrically.

A: Geometric distribution P[X=x]=pqx           x=0,1,2,3.....…

Q: Calculate the expected value, µ, the number of fouls (x) a player earned in a basketball game given…

A: Given information: x 1 2 3 4 5 P(x) 0.34 0.41 0.14 0.07 0.04

Q: Determine the mean of the probability distribution: 1 3 P(x) 0.48 |0.27 0.19 .06 Round your answer…

A: Given, Probability distribution is   Mean=?

Q: An insurance policy sells for $300. Based on past data an average of 1 in 100 policyholders will…

A: The price of the insurance policy is: $300 Number of policies sold is: 10000 The total amount that…

Q: Determine whether the distribution is a discrete probability distribution.

A: Properties of probability distribution is ,  1) The probability for a particular value or range of…

Q: A 31-year-old woman purchases a $100,000 term life insurance policy for an annual payment of $410.…

A: Given, The probability that she will survive the year is 0.999056. The probability that she will not…

Q: Telephone calls arrive at an information desk at a rate of 35 per hour. What is the probability that…

A: From the given information, Telephone calls arrive at an information desk at a rate of 35 per hour.…

Q: The ongoing pandemic of coronavirus disease 2019, a novel infectious disease caused by severe acute…

A: Given Data :

Q: Sample data are used as the basis from which to make probability statements about the true (but…

A: When the population is too large , we take a sample out of the population

Q: Which is the expectation for a binomial distribution?

A: Given,A random variable X~Binomial(n,p)P(X=x)=Cxn pxqn-x   ;  x=0,1,2,....nand p+q=1

Q: The table below gives the prizes and probabilities for winning on a $5 lotto scratcher. Find the…

A: Expected value = 2.016

Q: (a) Find the mean, variance, and standard deviation of the probability distribution. (b) Interpret…

A: Our aim is to find the mean , variance , standard deviation and interpret the result.

Q: describe a probability distribution.

A: We have to check whether the Given Formula of P(x)  is Probability Distribution or not, We know that…

Q: What are the two requirements for a discrete probability​ distribution?

A: Discrete random variable: A random variable which takes countable finite values.Discrete probability…

Q: An investor wishes to measure the estment risk shown by an asset that has e following distribution:…

A: Given information: Given that the investor wishes to measure the investment risk of an asset.

Q: In a product liability case, a company can settle out of court for a loss of $350,000, or go to…

A: Let X denotes the loss to the company. The probability of not guilty verdict is, Pnot guilty…

Q: An insurance policy costs $120 and will pay policyholders $9,000 if they suffer a major injury…

A: Given Information:  Cost of an insurance policy = $ 120  Amount paid to policy holders if suffered…

Q: Determine whether or not the distribution represents a probability distribution.

A:

Q: The Poisson probability distribution is a function of an integer variable. True or False

A: Introduction - Poisson Probability distribution -  Statistically Poisson probability distribution is…

Q: The table provides the probability model for the random variable X = the number of clothing product…

A: 3. X : Number of clothing recalled in a given month. We have to find the probability that, P(exactly…

Q: What is the difference between a discrete probability distribution and a continuous probability…

A: A discrete distribution is one in which the data can only take on certain values, for example…

Q: A dental clinic wants to properly handle their walk-in and appointment customers. According to the…

A: Given: x P(x) 1 0.1 2 0.15 3 0.4 4 0.25 5 0.1

Q: (a) Find the probability that the match ends in a draw. (b) Calculate the expected point that the…

A: Here Given For Football team Winner gets 2 points  Loser gets 0 and  In Tie match Both get 1 point…

Q: The joint probability distribution is a probability distribution that defines the simultaneous…

A: We have given that the statement about to the joint density distribution.

Q: Find the expected value of the probability model.

A: Expected value of probability model E(x)=∑xiPxi

Q: a. Determine the probability distribution function of the number of good eggs contained in the bowl.…

A:

Q: A 37-year-old woman purchases a $100,000 term life insurance policy for an annual payment of $480.…

A: Expected value:   In the long run the average value obtained by repetitions for the given experiment…

Q: Probability theory forms a central part of the design of Reliability engineering. in

A: # probability theory forms a central part of design of highly reliable system in reliability…

Q: no 8. x P(x) 0.2 2 0.2 0.2 4 0.2 0.2

A: To determine; Determine whether the distribution represents a probability distribution

Q: Find the probability that the monthly electricity consumption during October by a randomly selected…

A:

Q: a). A 22-year-old male pays $275 for a 1-year $150,000 life insurance policy. What is the expected…

A: Expected value which is also known as the expectation, average value or the mean value is a long run…

Q: An insurance company sells a one year term life insurance policy to an 80 year old woman. The woman…

A: Given : Let X represent the  value of insurance company's profit X P(X) 1000 0.9581 -18500…

Q: The probabilities of a machine manufacturing 0, 1, 2, 3, 4, and 5 defective parts in one day are…

A: We have given that  Probability distribution of discrete random variable x.  Mean = E(X) = ∑x.P(X=x)

Q: Suppose a life insurance company sells a ​$220,000 ​one-year term life insurance policy to a…

A: Given Information: A life insurance company sells a ​$220,000 ​one-year term life insurance policy…

Q: What makes a discrete probability distribution valid?

A: There are two conditions that make a discrete probability distribution valid.

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.