Applied Statistics in Business and Economics
5th Edition
ISBN: 9780077837303
Author: David Doane, Lori Seward Senior Instructor of Operations Management
Publisher: McGraw-Hill Education
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Chapter 5.6, Problem 41SE
Of grocery shoppers who have a shopping cart, 70 percent pay by credit/debit card (
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A venture capitalist, willing to invest $1,000,000 has three investments to choose from. The first investment, a software company, has a 10% chance of returning $5,000,000profit, a 30% chance of returning $1,000,000 profit, and a 60% chance of losing the million dollars. The second company, a hardware company, has a 20%chance of returning $3,000,000 profit, a 40% chance of returning $1,000,000profit, and a 40%chance of losing the million dollars. The third company, a biotech firm, has a 10% chance of returning $6,000,000 profit, a 70%of no profit or loss, and a 20% chance of losing the million dollars.
(a) Construct a PDF for each investment.Enter the exact answers as fractions or decimals.
x
P(x)
−1,000,000
1,000,000
5,000,000
software company^
x
P(x)
−1,000,000
1,000,000
3,000,000
hardware company^
x
P(x)
−1,000,000
0
6,000,000
Biotech firm
(b) Find the expected value for each investment.
Software company: $Hardware…
Chapter 5 Solutions
Applied Statistics in Business and Economics
Ch. 5.1 - A credit card customer at Barnes and Noble can use...Ch. 5.1 - A survey asked tax accounting firms their business...Ch. 5.1 - A baseball player bats either left-handed (L) or...Ch. 5.1 - A die is thrown (1, 2, 3, 4, 5, 6) and a coin is...Ch. 5.2 - Prob. 5SECh. 5.2 - Prob. 6SECh. 5.2 - Prob. 7SECh. 5.2 - Prob. 8SECh. 5.2 - Prob. 9SECh. 5.2 - Prob. 10SE
Ch. 5.2 - Prob. 11SECh. 5.2 - Prob. 12SECh. 5.3 - Prob. 13SECh. 5.3 - Are these events collectively exhaustive or not?...Ch. 5.3 - Prob. 15SECh. 5.3 - Given P(A) = .70, P(B) = .30, and P(A B) = .00,...Ch. 5.3 - Prob. 17SECh. 5.3 - Prob. 18SECh. 5.3 - Prob. 19SECh. 5.3 - Prob. 20SECh. 5.3 - Prob. 21SECh. 5.3 - Prob. 22SECh. 5.4 - Given P(J) = .26, P(K) = .48. If A and B are...Ch. 5.4 - Given P(A) = .40, P(B) = .50. If A and B are...Ch. 5.4 - Prob. 25SECh. 5.4 - Prob. 26SECh. 5.4 - Prob. 27SECh. 5.4 - Prob. 28SECh. 5.4 - The probability that a student has a Visa card...Ch. 5.4 - Bob sets two alarm clocks (battery-powered) to be...Ch. 5.4 - A hospitals backup power system has three...Ch. 5.4 - Over 1,000 people try to climb Mt. Everest every...Ch. 5.4 - Suppose 50 percent of the customers at Pizza...Ch. 5.5 - Prob. 34SECh. 5.5 - The contingency table below summarizes a survey of...Ch. 5.5 - Prob. 36SECh. 5.5 - A survey of 156 introductory statistics students...Ch. 5.5 - This contingency table describes 200 business...Ch. 5.5 - Based on the previous problem, is major...Ch. 5.5 - The following contingency table shows average...Ch. 5.6 - Of grocery shoppers who have a shopping cart, 70...Ch. 5.6 - A study showed that 60 percent of The Wall Street...Ch. 5.7 - A drug test for athletes has a 5 percent false...Ch. 5.7 - Half of a set of the parts are manufactured by...Ch. 5.7 - An airport gamma ray luggage scanner coupled with...Ch. 5.8 - (a) Find 8! without a calculator. Show your work....Ch. 5.8 - Prob. 47SECh. 5.8 - In the Minnesota Northstar Cash Drawing, you pick...Ch. 5.8 - Prob. 49SECh. 5.8 - Prob. 50SECh. 5.8 - Until 2005, the UPC bar code had 12 digits (09)....Ch. 5.8 - Bob has to study for four final exams: accounting...Ch. 5.8 - Prob. 53SECh. 5.8 - Prob. 54SECh. 5.8 - Prob. 55SECh. 5.8 - Prob. 56SECh. 5 - Prob. 1CRCh. 5 - Prob. 2CRCh. 5 - Prob. 3CRCh. 5 - Prob. 4CRCh. 5 - Prob. 5CRCh. 5 - Prob. 6CRCh. 5 - Prob. 7CRCh. 5 - In a contingency table, explain the concepts of...Ch. 5 - Prob. 9CRCh. 5 - Prob. 10CRCh. 5 - Prob. 11CRCh. 5 - Prob. 60CECh. 5 - Prob. 61CECh. 5 - A judge concludes that there is a 20 percent...Ch. 5 - Prob. 63CECh. 5 - Prob. 64CECh. 5 - In the first year after its release, 83 percent of...Ch. 5 - Prob. 66CECh. 5 - Prob. 67CECh. 5 - If Punxsutawney Phil sees his shadow on February...Ch. 5 - Prob. 69CECh. 5 - Bob owns two stocks. There is an 80 percent...Ch. 5 - Prob. 71CECh. 5 - A study showed that trained police officers can...Ch. 5 - The probability that a 2011 Audi A8 will be stolen...Ch. 5 - The probability of being struck by lightning is...Ch. 5 - Prob. 75CECh. 5 - A certain model of remote-control Stanley garage...Ch. 5 - (a) In a certain state, license plates consist of...Ch. 5 - Prob. 78CECh. 5 - Prob. 79CECh. 5 - Prob. 80CECh. 5 - Prob. 81CECh. 5 - A certain airplane has two independent alternators...Ch. 5 - Prob. 83CECh. 5 - Prob. 84CECh. 5 - A turboprop aircraft has two attitude gyroscopes,...Ch. 5 - Which are likely to be independent events? For...Ch. 5 - In child-custody cases, about 70 percent of the...Ch. 5 - A web server hosting company advertises 99.999...Ch. 5 - Prob. 89CECh. 5 - The probability is 1 in 4,000,000 that a single...Ch. 5 - Prob. 91CECh. 5 - Prob. 92CECh. 5 - Four students divided the task of surveying the...Ch. 5 - Refer to the contingency table shown below. (a)...Ch. 5 - Prob. 95CECh. 5 - High levels of cockpit noise in an aircraft can...Ch. 5 - Prob. 97CECh. 5 - A biometric security device using fingerprints...Ch. 5 - Dolon Web Security Consultants requires all job...
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Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.Similar questions
- Consumer Preference In a population of 100,000 consumers, there are 20,000 users of Brand A, 30,000 users of Brand B, and 50,000 who use neither brand. During any month, a Brand A user has a 20 probability of switching to Brand B and a 5 of not using either brand. A Brand B user has a 15 probability of switching to Brand A and a 10 probability of not using either brand. A nonuser has a 10 probability of purchasing Brand A and a 15 probability of purchasing Brand B. How many people will be in each group a in 1 month, b in 2 months, and c in 18 months?arrow_forwardA venture capitalist, willing to invest $1,000,000$1,000,000, has three investments to choose from. The first investment, a software company, has a 15%15% chance of returning $5,000,000$5,000,000 profit, a 25%25% chance of returning $1,000,000$1,000,000 profit, and a 60%60% chance of losing the million dollars. The second company, a hardware company, has a 10%10% chance of returning $3,000,000$3,000,000 profit, a 40%40% chance of returning $1,000,000$1,000,000 profit, and a 50%50% chance of losing the million dollars. The third company, a biotech firm, has a 15%15% chance of returning $6,000,000$6,000,000 profit, a 65%65% of no profit or loss, and a 20%20% chance of losing the million dollars. (a) Construct a PDF for each investment.Enter the exact answers as fractions or decimals.arrow_forward
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