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Hi, I need help with these questions. Thank you! An LG Dishwasher, which costs $950, has a 25% chance of needing to be replaced in
Hi, I need help with these questions. Thank you!
An LG Dishwasher, which costs $950, has a 25% chance of needing to be replaced in the first 2 years of purchase. A two-year extended warrantee costs $112. 10 on a dishwasher. Assume the dishwasher is replaced in the first 2 years. a) Write out the probability distribution for the value of the extended warranty. Make sure you enter your X values from smallest to largest P(X) b) What is the expected value of the extended warranty? Round final answer to 2 decimal places and write the units in the second box. c) Which of the following is the correct interpretation of the expected value of the warranty? Select an answer Every time you buy such a warranty you will gain 125.4 dollars For many of these extended warranties bought by customers, they can expect to gain 125.4 dollars per warranty on average Every time you buy the extended warranty the dishwasher breaks Keke's Kookies (https://kekekookies.com/) sells mini cookies in packs of 5 and has determined a probability distribution for the number of cookies that they sell in a given day. X= #sold 0 5 10 15 20 Probability 0.22 0.19 0.32 ...? 0.15 a. What is the probability of selling 15 mini cookies in a given day? b. Find the expected number of mini cookies sold in a day using the discrete probability distribution. c. Find the variance of the number of mini cookies sold in a day using the discrete probability distribution. The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $7 each and will sell 900 tickets. There is one $1,000 grand prize, three $200 second prizes, and sixteen $20 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest centStep by Step Solution
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