Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The table to the right Workers per Age Group gives the number of (thousands) male and female 16-19 20-24 25+ Totals workers earning at or

image text in transcribedimage text in transcribedimage text in transcribed
The table to the right Workers per Age Group gives the number of (thousands) male and female 16-19 20-24 25+ Totals workers earning at or Males at Minimum Wage 360 137 297 794 below the minimum wage for several age Males below Minimum Wage 163 154 129 446 categories. Complete Females at Minimum Wage 310 175 516 1,001 parts (A) through (D) Females below Minimum Wage 204 277 568 1,049 belOW- Totals 1,037 743 1,510 3,290 (A) How many males are of age 2024 and earn below minimum wage? There are males of age 2024 earning below minimum wage. (Type a whole number.) (B) How many females are of age 20 or older and earn minimum wage? There are females of age 20 or older earning minimum wage. (Type a whole number.) (C) How many workers are of age 1619 or males earning minimum wage? There are workers who are of age 16-19 or are males earning minimum wage. (Type a whole number.) (D) How many workers earn below minimum wage? There are a total of workers earning below minimum wage. (Type a whole number.) Suppose that 8 female and 7 male applicants have been successfully screened for 8 positions. In how many ways can the following compositions be selected? (A) 4 females and 4 males (B) 7 females and 1 male (0) 8 females (D) 8 people regardless of sex (E) At least 7 females (A) There is/are way(s) to select 4 females and way(s) to select 4 males. (Type whole numbers.) There is/are way(s) to select 4 females and 4 males. (Type a whole number.) (B) There is/are way(s) to select 7 females and 1 male. (Type a whole number.) (C) There is/are way(s) to select 8 females. (Type a whole number.) (D) There is/are way(s) to select 8 people regardless of sex. (Type a whole number.) (E) There is/are way(s) to select at least 7 females for 8 positions. (Type a whole number.) Decision analysis. After careful testing and analysis, an oil company is considering drilling in two different sites. It is estimated that siteAwiIl net $20 million if successful (probability .4) and lose $3 million if not (probability .6); site B will net $60 million if successful (probability .3) and lose $5 million if not (probability .7). Which site should the company choose according to the expected return from each site? a. What is the expected return for site A? $ million b. What is the expected return for site B? $ million c. Which site should the company choose? Site B Site A

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

Algebra Practice Sets 100 Problems And Solutions Volume 1

Authors: Sanjay Jamindar

1st Edition

1519534809, 978-1519534804

More Books

Students also viewed these Mathematics questions

Question

What is the limitation on a deductible IRA contribution for 2016?

Answered: 1 week ago