What did the insurance company charge Charlie for this policy if the company expected to break even?

Q: In this round, the probability that his winnings will be around 30,000 to 50,000 pesos is While the…

A: In the first round, Shawn has to guess the item hidden in each of the 6 distinct bins. In every bin,…

Q: Phil Dunphy, a real estate agent, is considering whether he should list an unusual $670,293 house…

A:

Q: In a suppose business transaction, Juan is expected to gain P150,000 with probability of 0.70 or…

A: Given, In a business transaction,  Juan gain P150,000 The probability of gain is p=0.70   Juan loss…

Q: Flynn rolls a 12-sided dice and flips a coin. What are the chances he will roll a 7 or 8 and land on…

A: S=(1,H),(1,T),(2,H),(2,T),(3,H),(3,T),(4,H),(4,T),(5,H),(5,T),(6,H),(6,T),(7,H),(7,T),(8,H),(8,T),(9…

Q: 2. You are considering purchasing an insurance policy for your office as per your business plan. The…

A: Cost of Policy = P 100,000   In case of minor accident, Expected loss = 1,000,000 *P(minor fire) =…

Q: A charitable organization raises funds by selling 2000 raffle tickets for a first prize worth 500$…

A:

Q: At an electronics store, three types of tablets are sold. Company A's tablet is twice as likely to…

A: Given,   P(A) = 2 P(B) P(B) = P(C)   where, P(A) is the likelihood of sale of company's A tablet…

Q: In a raffle, one ticket out of 1,000 will win a $130 prize. The rest will win nothing. If you have a…

A:

Q: 7. A lawyer considering taking a case figures that there is a 40% chance of winning the case in…

A: Winning considered as +ve (also bringing money) Lossing considered as -ve

Q: Phil Dunphy, a real estate agent, is considering whether he should list an unusual $755,485 house…

A: Profit received by the agent if he sells the house = (Commission received – amount spent on…

Q: From the perspective of the 31-year-old male, what are the monetary values corresponding to the two…

A: The value corresponds to surviving the year is = charges incurred by the man for taking life…

Q: There are three alternative proposals before a businessman to start a new project: Proposal A:…

A:

Q: Two 9 years old boys are watching a television replay of a boxing match between Muhammad Ali and joe…

A: In this situation, the risk involved is known as speculative risk. In a speculative risk, there is…

Q: Phil Dunphy, a real estate agent, is considering whether he should list an unusual $345,507 house…

A: Profit received by the agent if he sells the house = (Commission received – amount spent on…

Q: What is your expcted value fora game where your probability of winning is 1/9 and your profit is 4…

A:

Q: Marlon is going to roll a six-sided die, and if he rolls a 3, he gets $10. It costs him $2 to enter…

A: Random variables are of 2 types, discrete and continuous. A discrete random variable can only take…

Q: Chicken Little is risk-neutral, but is concerned about the sky falling. She believes that there is a…

A: For a discrete random variable, X, with probability distribution P(X) , the expected value of X can…

Q: A lawyer considering taking a case figures that there is a 40% chance of winning the case in court…

A: The expected payoff of the case for the firm is obtained below: From the given information, there is…

Q: Caleb has a four-sided die, a six-sided die, and a 12-sided die. He rolls the three dice and adds up…

A: Given data: The number of the four-sided dies is a=1. The number of the six-sided dies is b=1. The…

Q: If Jessica is a bartender and she has six glasses of white wine and six glasses of red. A customer…

A: Solution: From the given information, Jessica has 6 glasses of white wine and 6 glasses of red.…

Q: For the experiment of rolling an ordinary pair of​ dice, find the probability that the sum will be…

A: if a pair of dice rolled than the possible outcomes…

Q: Unlike craps and roulette, where each throw or spin is independent of the one before it, in…

A:

Q: oxnard petro limited is buying hurricane insurance for its off-coast oil drilling platform. During…

A:

Q: Which of the following rows shows the probabilities of the three Outcomes? ww

A: Here given spinner is shape of circle  So Total angle 360  And number  2 make 90 degree While 3 and…

Q: At a lottery competition, a person pays 20R to participate in the competition. If he rolls two dice…

A: Expected gain = sum(p*x)

Q: Phil Dunphy, a real estate agent, is considering whether he should list an unusual $372,875 house…

A: Expected value:The expected value of a random variable is the sum of the possible values that the…

Q: You are taking a multiple choice test that you did not study for. If there are 9 questions, each…

A:

Q: Phil Dunphy, a real estate agent, is considering whether he should list an unusual $497,938 house…

A: Phil Dunphy, a real estate agent, is considering whether he should list an unusual $497,938 house…

Q: raffle offers one Php20,000 cash prize, two Php15,000 prizes, and three Php10,000 prize. Also,  five…

A:

Q: The twins, Nikki and Sean want to open a small convenience store. They have to decide whether to…

A: Note: All payoffs are in $000. As we can see from the decision tree below, the best decision is to…

Q: Jack wants to take Deep Learning or Spanish, or both this semester. He is applying for enrolment.…

A: Given,P(getting into a Deep Learning course)=0.50P(getting into a Spanish course)=0.40and P(Getting…

Q: Bob, the proprietor of Midway Lumber, bases his projections for the annual revenues of the company…

A: Let, X= revenue (in millions) We make a probability distribution  Revenue(xi) (in millions) 20…

Q: these three salesmen try to sell the product, find the probability of success of only one salesman…

A: here given ,  Three salesmen, A, B and C have been given a target of selling 10,000 units of a…

Q: If p represents the probability of success of a player in any game and M represents the sum of money…

A: Let p be the probability of success  of a player in any game  M be the sum of money

Q: Phil Dunphy, a real estate agent, is considering whether he should list an unusual $424,437 house…

A: Introduction: Denote X as the amount of profit earned by selling the house. Here, X can take two…

Q: In a proposed business venture, a company estimates that there is a 60% chance the company will make…

A: Introduction: Hey there! Thank you for the question. As you have posted multiple questions,…

Q: Examine the table above . The insurance company does not know the probabilities of falling sick for…

A: The table shows the probability of falling sick of individuals and the total insured income to be…

Q: In Franklin County, there are about 50,000 registered voters, of whom 15,000 are Democrats. A survey…

A: Given that - In Franklin County, there are about 50,000 registered voters, of whom 15,000 are…

Q: Having endured and survived the mental trauma that comes from taking two years of chemistry, a year…

A:

Q: Holland America Cruise Lines has three luxury cruise ships that sail to Alaska during the summer…

A: Let A be the event that the dollar does not appreciate against European currencies Let B be the…

Q: Dash and Lily Corporation wanted to raise funds for the poor. The first prize for a raffle is…

A: Given The first prize for a raffle is S500,000  (with a probability of 0.001) and the second prize…

Q: Nathan had an infection, and his doctor wanted him to take penicillin. Because Nathan’s father and…

A:

Q: considering

A: Given: Cost of house = $318,725 Money spend in advertising, staging, and fresh cookies = $4,354…

Q: Phil Dunphy, a real estate agent, is considering whether he should list an unusual $543,549 house…

A:

Q: Bob, the proprietor of Midway Lumber, bases his projections for the annual revenues of the company…

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Q: In a three subject class setting, there is a 60% chance that the students will pass only two…

A:

Q: At one point in the 1999 seaosn, Ken griffey, Jr has a batting average 0.325. What are the odds that…

A: Given that the probability of hitting a ball is = 0.325 So, the odds that he would hit the ball the…

Q: Phil Dunphy, a real estate agent, is considering whether he should list an unusual $340,864 house…

A: Random variables are of two types, discrete and continuous. A discrete random variable can only take…

Q: Suppose you place a $35 bet on a horse with a 2:7 odds against winnning. Determine the winning…

A: Solution