Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

8. Let :r represent the number of lease agreements a car saleswoman makes per month. I is a discrete random variable with the following distribution:

image text in transcribed
8. Let :r represent the number of lease agreements a car saleswoman makes per month. I is a discrete random variable with the following distribution: I Number of Leases, I 0 1 2 I Probability, P[I) 0'4 0'5 0'1 (21) Find #4,, the expected number of lease agreements she makes per month (b) Find a, (c) The number of cars she sells per month, 11, is a random variable with mean W = 1.1 and standard deviation (7y = 0.9. Suppose that she gets a $300 bonus for each car (3:) she leases and $500 for each car she sells. Let the random variable 7' represent the total monthly bonus she earns Write an equation for 7', and nd or and HT. 9. 8% of US residents have blue eyes. Suppose that US residents are selected at random from the population (with replacement) until one with blue eyes is chosen. (a) What is the probability that the fourth person selected is the rst one with blue eyes? (b) What is the probability that it takes 2 or more selections until selecting the rst person with blue eyes? 10' A severe tornado occurs in Lubbock, Texas (on average) 2 times every 50 years. (a) What is the probability that Lubbock has five severe tornadoes in next 75 years? (b) What is the probability that Lubbock has at least two severe tornadoes in the next 30 years? Bonus. What is the probability that Lubbock has at lcast one tornado in the next 8 100 years, given that there are less than four tornadoes in the next 100 years

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Equation Of Knowledge From Bayes Rule To A Unified Philosophy Of Science

Authors: Lê Nguyên Hoang

1st Edition

1000063275, 9781000063271

More Books

Students also viewed these Mathematics questions

Question

=+which it operates?

Answered: 1 week ago

Question

=+How should we organize a book to maximize learning and interest

Answered: 1 week ago