of his crop. probability is 0.70 of typical weather, 0.20 of unusually dry weather, and 0.10 of a severe storm. Let X denote the farmer's profit next year. a. Constructa table with the probability distribution of X. b. What is the probability that the profit is $50,000 or less? c. Find the mean of the probability distribution of X. Interpret. 6.15 d. Suppose the farmer buys insurance for $3000 that pays him $20,000 in the event of a severe storm that destroys much of the crop and pays nothing other- wise. Find the probability distribution of his profit. Find the mean and summarize the effect of buying this insurance. TRY 6.12 Buying eBay You are watching two items posted for eBay and bid $30 for the first and $20 for the second going to win the first bid with probability 0.1 and the second bid with probability 0.2, independent events. Let X denote the random variable denoting the on sale on item. You estimate that you are and you assume that winning the two bids are total amount of money you will spend on the two items. a. List the sample space of all possible outcomes of winning or losing the two bids. (Draw b. Find the probability of each outcome in the sample space. (Use the tree diagram.) c. Find the probability distribution of X. of a tree diagram.) he ob- f 10 d.Find the mean of X.
of his crop. probability is 0.70 of typical weather, 0.20 of unusually dry weather, and 0.10 of a severe storm. Let X denote the farmer's profit next year. a. Constructa table with the probability distribution of X. b. What is the probability that the profit is $50,000 or less? c. Find the mean of the probability distribution of X. Interpret. 6.15 d. Suppose the farmer buys insurance for $3000 that pays him $20,000 in the event of a severe storm that destroys much of the crop and pays nothing other- wise. Find the probability distribution of his profit. Find the mean and summarize the effect of buying this insurance. TRY 6.12 Buying eBay You are watching two items posted for eBay and bid $30 for the first and $20 for the second going to win the first bid with probability 0.1 and the second bid with probability 0.2, independent events. Let X denote the random variable denoting the on sale on item. You estimate that you are and you assume that winning the two bids are total amount of money you will spend on the two items. a. List the sample space of all possible outcomes of winning or losing the two bids. (Draw b. Find the probability of each outcome in the sample space. (Use the tree diagram.) c. Find the probability distribution of X. of a tree diagram.) he ob- f 10 d.Find the mean of X.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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Topic Video
Question
The question is 6.12. A, B, C, and D go to 6.12 but just fall on a different page. Part D. also corresponds to 6.12. Need help on part A,B,C.
Transcribed Image Text:of his crop.
probability is 0.70 of typical weather, 0.20 of unusually
dry weather, and 0.10 of a severe storm. Let X denote the
farmer's profit next year.
a. Constructa table with the probability distribution
of X.
b. What is the probability that the profit is $50,000 or
less?
c. Find the mean of the probability distribution of X.
Interpret.
6.15
d. Suppose the farmer buys insurance for $3000 that
pays him $20,000 in the event of a severe storm that
destroys much of the crop and pays nothing other-
wise. Find the probability distribution of his profit.
Find the mean and summarize the effect of buying
this insurance.
TRY
6.12 Buying
eBay You are watching two items posted for
eBay and bid $30 for the first and $20 for the second
going to win the first bid
with probability 0.1 and the second bid with probability 0.2,
independent
events. Let X denote the random variable denoting the
on
sale on
item. You estimate that you are
and you assume that winning the two bids are
total amount of money you will spend
on the two items.
Transcribed Image Text:a. List the sample space of all possible outcomes of
winning or losing the two bids. (Draw
b. Find the probability of each outcome in the sample
space. (Use the tree diagram.)
c. Find the probability distribution of X.
of
a tree diagram.)
he
ob-
f
10
d.Find the mean of X.
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