# Finite Math (20 Questions)

**morganjackson670**

**QUESTION 1**

### The management of the Cambridge Company has projected the sales of its products (in millions of dollars) for the upcoming year, with the associated probabilities shown in the following table:

SalesProbability

What does the management expect the sales to be next year?

### a.18.7

### b.15.34

### c.28.98

### d.29.61

### e.32.34

**1 points **

**QUESTION 2**

### The management of MultiVision, a cable TV company, intends to submit a bid for the cable television rights in one of two cities, *A* or *B*. If the company obtains the rights to city *A*, the probability of which is 0.3, the estimated profit over the next 10 yr is $10 million; if the company obtains the rights to city *B*, the probability of which is 0.4, the estimated profit over the next 10 yr is $7 million. The cost of submitting a bid for rights in city *A* is $300,000 and that of city *B* is $300,000.

By comparing the expected profits for each venture, determine whether the company should bid for the rights in city *A* or city *B*.

### a.City *A*

### b.City *B*

**1 points **

**QUESTION 3**

### In European roulette the wheel is divided into 37 compartments numbered 1 through 36 and 0. (In American roulette there are 38 compartments numbered 1 through 36, 0, and 00.) Find the expected value of the winnings on a $3 bet placed on red in European roulette. Round your answer to the nearest cent.

### a.$0.08%

### b.$0.03%

### c.- $0.03%

### d.- $0.08%

**1 points **

**QUESTION 4**

### Based on past experience, the manager of the VideoRama Store has compiled the following table, which gives the probabilities that a customer who enters the VideoRama Store will buy 0, 1, 2, 3, or 4 videocassettes. How many videocassettes can a customer entering this store be expected to buy?

Video- cassettes01234Probability0.420.370.130.040.04

### a.*E* = 0.56

### b.*E* = 0.91

### c.*E* = 0.86

### d.*E* = 0.66

**1 points **

**QUESTION 5**

### Find the expected value of a random variable *X* having the following probability distribution:

*x*012345*P*(*X* = *x*)

### a.*E*( *X*) = 2.3125

### b.*E*( *X*) = 2.1875

### c.*E*( *X*) = 2.3825

### d.*E*( *X*) = 1.0975

**1 points **

**QUESTION 6**

### If a player placed a $8 bet on *red* and a $5 bet on *black* in a single play in American roulette, what would be the expected value of his winnings? Round your answer to the nearest cent.

a. cents

### b. cents

### c. cents

### d. centse. cents

**1 points **

**QUESTION 7**

### During the first year at a university that uses a 4-point grading system, a freshman took ten 3-credit courses and received one A, three Bs, two Cs, and four Ds.

Compute this student's grade point average.

Let the random variable *X* denote the number of points corresponding to a given letter grade. Find the probability distribution of the random variable *X* and compute *E*( *X*), the expected value of *X*.

### a.2.1;

*x* 1 2 3 4

*P* (*X* = *x*) 1 3 2 4

*E*(*X*) = 2.1

### b.2.9;

*x* 1 2 3 4

*P* (*X* = *x*) 0.4 0.2 0.3 0.1

*E*(*X*) = 2.9

### c.2.9;

*x* 1 2 3 4

*P* (*X* = *x*) 0.1 0.3 0.2 0.4

*E*(*X*) = 2.9

### d.2.1;

*x* 1 2 3 4

*P* (*X* = *x*) 0.4 0.2 0.3 0.1

*E*(*X*) = 2.1

**1 points **

**QUESTION 8**

### A woman purchased a $10,000, 1-year term-life insurance policy for $150. Assuming that the probability that she will live another year is 0.993, find the company's expected gain.

a.*E* = $90

### b.*E* = $100

### c.*E* = $140

### d.*E* = $80

**1 points **

**QUESTION 9**

### Bob, the proprietor of Midland Lumber, feels that the odds in favor of a business deal going through are 7 to 6. What is the (subjective) probability that this deal will not materialize?

a.0.4622b.0.4615c.0.4647d.0.4460

**1 points **

**QUESTION 10**

### A buyer for Discount Fashions, an outlet for women's apparel, is considering buying a batch of clothing for $61,000. She estimates that the company will be able to sell it for $80,000, $75,000, or $70,000 with probabilities of 0.20, 0.40, and 0.40, respectively.

Based on these estimates, what will be the company's expected gross profit?

### a.$10,400

### b.$23,400

### c.$13,000

### d.$7,800

### e.$15,600

TWO

**QUESTION 1**

### The probability distribution of a random variable *X* is

*x*–2–1012*P ( X = x )*

Compute the mean, variance, and standard deviation of *X*.

### a.

### b.

### c.

### d.

**1 points **

**QUESTION 2**

### A probability distribution has a mean of 57 and a standard deviation of 1.4. Use Chebychev’s inequality to find the value of c that guarantees the probability is at least 96% that an outcome of the experiment lies between 57 - *c* and 57 - *c*. (Round the answer to nearest whole number.)

a.3

### b.9

### c.1

### d.7

### e.5

**1 points **

**QUESTION 3**

### Find the variance of the probability distribution for the histogram:

a.Var ( *X*) = 4.2625

### b.Var ( *X*) = 4.65

### c.Var ( *X*) = 4.28

### d.Var ( *X*) = 4.0125

**1 points **

**QUESTION 4**

### The birthrates in the country for the years 1981-1990 are:

Year1981198219831984198519861987198819891990Birthrate15.915.515.515.715.715.615.715.916.216.7

(The birthrate is the number of live births/1,000 population.)

Compute the mean, variance, and standard deviation of the random variable *X*.

a.

### b.

### c.

### d.

**1 points **

**QUESTION 5**

### Rosa Walters is considering investing $10,000 in two mutual funds. The anticipated returns from price appreciation and dividends (in hundreds of dollars) are described by the following probability distributions:

Mutual Fund A

ReturnsProbability-40.280.3100.5

Mutual Fund B

ReturnsProbability-20.260.680.2

Compute (in dollars) the mean and variance for each mutual fund.

### a.Mutual Fund A:

Mutual Fund B:

### b.Mutual Fund A:

Mutual Fund B:

### c.Mutual Fund A:

Mutual Fund B:

### d.Mutual Fund A: Mutual Fund B:

**1 points **

**QUESTION 6**

### The number of Americans without health insurance, in millions, from 1995 through 2002 is summarized in the following table.

Year19951996199719981999200020012002Americans40.541.443.644.740.239.241.143

What is the standard deviation of Americans without health insurance in the period from 1995 through 2002?

a. million

### b. million

### c. milliond. million

### e. million

**1 points **

**QUESTION 7**

### The mean annual starting salary of a new graduate in a certain profession is $43,000 with a standard deviation of $500. What is the probability that the starting salary of a new graduate in this profession will be between $39,500 and $46,500?

a.At least

### b.At least

### c.At least

### d.At least

**1 points **

**QUESTION 8**

### A survey was conducted by the market research department of the National Real Estate Company among 500 prospective buyers in a large metropolitan area to determine the maximum price a prospective buyer would be willing to pay for a house. From the data collected, the distribution that follows was obtained.

Compute the standard deviation of the maximum price (in thousands of dollars) that these buyers were willing to pay for a house. Round the answer to the nearest integer.

Maximum Price Considered, 150160170180190220250270320a.

### b.

### c.

### d.

### e.

**1 points **

**QUESTION 9**

### The following table gives the scores of 30 students in a mathematics examination.

Scores90-9980-8970-7960-6950-59Students381351

Find the mean and the standard deviation of the distribution of the given data. *Hint:* Assume that all scores lying within a group interval take the midvalue of that group.

a.

### b.

### c.

### d.

### e.

**1 points **

**QUESTION 10**

### A probability distribution has a mean of 45 and a standard deviation of 1. Use Chebychev's inequality to estimate the probability that an outcome of the experiment lies between 43 and 47.

a.At least 0.8

### b.At least 0.75

### c.At least 0.5

### d.At least 0.25

### e.At least 0.04

- a month ago
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