Mathematics, 26.11.2019 06:31 tateandvioletAHS14AY
Aconstruction firm bids on a contract. it anticipates a profit of $50 comma 000 if it gets the contract for the full project, and it estimates a profit of $10 comma 000 on a shared project. the company estimates there's a 20% chance it will get the larger contract and a 75% chance it will get the smaller contract; otherwise, it gets nothing. (a) define a random variable to model the outcome of the bid. (b) what is the expected profit earned on these contracts? report units with your answer. (c) what is the standard deviation of the profits? (a) choose the correct answer below. a. let the random variable x denote the type of contract. then p(no contract)equalsp(xequalsno contract)equals0.05, p(small contract)equals0.75, p(large contract)equals0.20. b. let the random variable x denote the earned profits. then p(0)equalsp(xequals0)equals0.05, p(10 comma 000)equals0.20, p(50 comma 000)equals0.75. c. let the random variable x denote the outcome of the bid. then p(no)equalsp(xequalsno)equals0.05, p(yes)equals1.0. d. let the random variable x denote the earned profits. then p(0)equalsp(xequals0)equals0.05, p(10 comma 000)equals0.75, p(50 comma 000)equals0.20. your answer is correct. (b) the expected profit is $ 17000.
Answers: 1
Mathematics, 21.06.2019 18:00
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Mathematics, 21.06.2019 21:20
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Asquare and an equilateral triangle have the same perimeter. each side the triangle is 4 inches longer than each side of the square. what is the perimeter of the square
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Arectangle plot measure 20ft. by 30ft. a 3-ft.-wide sidewalk surrounds it.find the area of the sidewalk.
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Aconstruction firm bids on a contract. it anticipates a profit of $50 comma 000 if it gets the contr...
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