1.) A binomial experiment with probability of success

=p0.22

and

=n9

trials is conducted. What is theprobabilitythat the experiment results in

2

or more successes?

Do not round your intermediate computations, and round your answer to three decimal places. (If necessary, consult a list of formulas.)

2.) A TV executive is interested in the popularity of a particular streaming TV show. She has been told that a whopping

68%

of American households would be interested in tuning in to a new network version of the show. If this is correct, what is the probability that all

6

of the households in her city being monitored by the TV industry would tune in to the new show? Assume that the

6

households constitute a random sample of American households.

Round your response to at least three decimal places. (If necessary, consult a list of formulas.)

3.) MotoWin Auto Superstore is thinking about offering a two-year limited warranty for

$993

on all new cars of a certain model. The terms of the warranty would be that MotoWin would replace the car free of charge under certain, specified conditions. Replacing the car in this way would cost MotoWin

$12,200

. Suppose that under the warranty, there is an

8%

chance that MotoWin would have to replace the car one time and a

92%

chance they wouldn't have to replace the car. (If necessary, consult a list of formulas.)

If MotoWin knows that it will sell many of these warranties, should it expect to make or lose money from offering them? How much?

To answer, take into account the price of the warranty and the expected value of the cost from replacing the car.

MotoWin can expect to make money from offering these warranties.

In the long run, they should expect to makedollars on each warranty sold.

MotoWin can expect to lose money from offering these warranties.

In the long run, they should expect to losedollars on each warranty sold.

MotoWin should expect to neither make nor lose money from offering these warranties.

4.) Jessica has a bag with

8

balls numbered

1

through

8

. She is playing a game of chance.

This game is this: Jessica chooses one ball from the bag at random. She wins

$1

if the number

1

is selected,

$2

if the number

2

is selected,

$5

if the number

3

is selected,

$6

if the number

4

is selected,

$8

if the number

5

is selected, and

$10

if the number

6

is selected. She loses

$16

if

7

or

8

is selected.

(If necessary, consult a list of formulas.)

(a)	Find the expected value of playing the game.
	dollars
(b)	What can Jessica expect in the long run, after playing the game many times? (She replaces the ball in the bag each time.)
	Jessica can expect to gain money.
	Shecanexpecttowindollarsperselection.
	Jessica can expect to lose money.
	Shecanexpecttolosedollarsperselection.
	Jessica can expect to break even (neither gain nor lose money).