A company's employee database includes each employee's compensation. a) Is this variable discrete or continuous? b) What are the possible values it can take on? a) The variable isA clay trader buys an option on a stock that will return S100 prot it the stock goes up today and lose $500 if it goes down. Complete parts a and h below given that the trader thinks there is a ?0% chance that the stock will go up. a} What her expected value of the option's prot? b} What do you think of this option? a} The eaqleoted value of the option's prot is SD {Simplify your answer.) A day trader buys an option on a stock that will return $150 profit if the stock goes up today and lose $700 if it goes down. If the trader thinks there is a 80% chance that the stock will go up, find the standard deviation of the day trader's option value. The standard deviation of the day trader's option is $ (Round to two decimal places as needed.)An orthodontist has three financing packages, and each has a different service charge. He estimates that 10% of patients use the first plan which has a $10 finance charge; 40% use the second plan which has a $20 finance charge; and 50% use the third plan which has a $30 finance charge. Complete parts a and b. a) Find the expected value of the service charge. E(X) = $b) Find the standard deviation of the service charge.Let the act of inspecting a baggage be a trial. Are there only two possible outcomes? Yes X No Assume that a "success" is to have the baggage inspected. Is the probability of success the same on every trial? X No Yes Are the trials independent? X No Yes Using the information from the previous steps, can you model your chance of having your baggage opened with a Bernoulli model? Yes O NoAt the airport entry sites, a computer is used to randomly decide whether a traveler's baggage should be opened for inspection. If the chance of being selected is 15%, can you model your chance of having your baggage opened with a Bernoulli model? Check each of the conditions specifically. Trials are Bernoulli if the following three conditions are met. 1. There are only two possible outcomes (called success and failure) for each trial. 2. The probability of success, denoted p, is the same on every trial. 3. The trials are independent.A study showed that 34% of all firms in Country A are owned by women. You are phoning local businesses, assuming that the national percentage is true in your area. You call 3 firms. What is the probability that all three are owned by women? The probability that all three are owned by women is (Round to three decimal places as needed.)Through the career services office, you have arranged preliminary interviews at four companies for summer jobs. Each company will either ask you to come to their site for a follow-up interview or not. Let X be the random variable equal to the total number of follow-up interviews that you might have. a) List all the possible values of X. b) Is the random variable discrete or continuous? c) Do you think a uniform distribution might be appropriate as a model for this random variable? Explain briefly. a) The possible values of X are . (Use a comma to separate answers as needed. Type integers or simplified fractions.)Suppose a computer chip manufacturer rejects 6% of the chips produced because they fail presale testing. Assume the bad chips are independent. Complete parts a through d below. . . . a) Find the probability that the seventh chip they test is the first bad one they find. The probability is (Type an integer or a decimal. Round to three decimal places as needed.)b) Find the probability they find a bad one within the first 13 they examine.c) Find the probability that the first bad chip they find will be the ninth one they test.d) The first bad chip they find will be one of the first seven they test.A company that manufactures large LCD screens knows that not all pixels on their screen light, even it they spend great care when making them. They know that the manufacturing process has a blank pixel rate, on average, of 5.1 blank pixels in a sheet 6 ft by 10 it that will be cut into smaller screens. They believe that the occurrences of blank pixels are independent. Their warranty policy states that they will replace any screen sold that shows more than 2 blank pixels. Suppose the number of blank pixels can be modeled by a Poisson distribution. Complete parts a) through d) below. E) a} What is the mean number of blank pixels per square foot? The mean is D pixelts}. {Round to three decimal places as needed.) b) What is the standard deviation of blank pixels per square foot?c) What is the probability that a 2 ft by 3 ft screen will have at least one defect?d) What is the probability that a 2 ft by 3 ft screen will be replaced because it has too many defects?A manager at a company that manufactures cell phones has noticed that the number of faulty cell phones in a production run of cell phones is usually small and that the quality of one day's an seems to have no bearing on the next day. a} what model might you use to model the number of faulty cell phones produced in one day? b} If the mean number of faulty cell phones is 2.4 per day, what is the probability that no faulty cell phones will be produced tomorrow? c) If the mean number of faulty cell phones is 2.4 per clay, what is the probability that 3 or more faulty ceI phones were produced in today's mn? <: a which model might you use poisson binomial geometric uniform an archer is able to hit bulls-eye of the time. assume each shot independent others. suppoee this shoots arrows. complete parts through below. a: find mean and standard deviation number bull she may get. . two decimal places as needed. b what probability that never misses me are nu mare man d there exactly hits more often than sales manager car dealership believes his force sells customers who stop by showroom. he needs make month get special bonus approximately visit showroom month. entering one another. i will d. three sell between cars jeff can choose either increase motivation so they sale or people walking into makes it likely marketing consultant suggests produce ad campaign at cost assuming risk-neutral has budget should accept offer maximum amount be willing pay perfectly rational if spenders earn firm lot money see least spender in next buys but just>