Tirm bids on a con nucipates a profit Bf $5 the full project, and it estif profit of $10,000 on a shared project. The company estimates there's a 30% chance it will get the larger contract and a 60% ch it will get the smaller contract; otherwise, it gets nothing. (a) Define a random variable to model the outcome of the bid. (b) What is the expected profit earned on these contracts? Report units with your answer. (c) What is the standard deviation of the profits? (a) Choose the correct answer below. O A. Let the random variable X denote the type of contract. Then p(no contract) = P(X = no contract) = 0.10, p(small contract) = 0.60, p(large contract) = 0.30. B. Let the random variable X denote the earned profits. Then p(0) = P(X = 0) = 0.10, p(10,000) = 0.60, p(50,000) = 0.30. C. Let the random variable X denote the outcome of the bid. Then p(no) = P(X = no) = 0.10, p(yes) = 0.9. D. Let the random variable X denote the earned profits. Then p(0) = P(X= 0) = 0.10, p(10,000) = 0.30, p(50,000) = 0.60. (b) The expected profit is $ 33000

Tirm bids on a con nucipates a profit Bf $5 the full project, and it estif profit of $10,000 on a shared project. The company estimates there's a 30% chance it will get the larger contract and a 60% ch it will get the smaller contract; otherwise, it gets nothing. (a) Define a random variable to model the outcome of the bid. (b) What is the expected profit earned on these contracts? Report units with your answer. (c) What is the standard deviation of the profits? (a) Choose the correct answer below. O A. Let the random variable X denote the type of contract. Then p(no contract) = P(X = no contract) = 0.10, p(small contract) = 0.60, p(large contract) = 0.30. B. Let the random variable X denote the earned profits. Then p(0) = P(X = 0) = 0.10, p(10,000) = 0.60, p(50,000) = 0.30. C. Let the random variable X denote the outcome of the bid. Then p(no) = P(X = no) = 0.10, p(yes) = 0.9. D. Let the random variable X denote the earned profits. Then p(0) = P(X= 0) = 0.10, p(10,000) = 0.30, p(50,000) = 0.60. (b) The expected profit is $ 33000

Holt Mcdougal Larson Pre-algebra: Student Edition 2012

1st Edition

ISBN:9780547587776

Author:HOLT MCDOUGAL

Publisher:HOLT MCDOUGAL

Chapter11: Data Analysis And Probability

Section11.8: Probabilities Of Disjoint And Overlapping Events

Problem 2C

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