(i) How much do you expect to spend on coffee tomorrow and with what standard deviation? (ii) How much do you expect your friend to spend and with what standard deviation?
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- The demand for a product of Carolina Industries varies greatly from month to month. The probability distribution in the following table, based on the past two years of data, shows the company's monthly demand. Unit Demand Probability 300 400 500 600 0.20 0.30 0.35 0.15 (a) If the company bases monthly orders on the expected value of the monthly demand, what should Carolina's monthly order quantity be for this product? (b) Assume that each unit demanded generates $70 in revenue and that each unit ordered costs $50. How much will the company gain or lose in a month (indoitars) if it places an order based on your answer to part (a) and the actual demand for the item is 300 units?The owner of Tastee Cookies needs to decide whether to lease a small, medium, or large new retail outlet. She estimates that monthly profits will vary with demand for her cookies as follows: SIZE OFOUTLET DEMAND LOW HIGH Small $ 1,000 1,000 Medium 500 2,500 Large 0 3,000 For what range of probability that demand will be high, will she decide to lease the medium facility?1. Suppose the prices of used cars in the market are normally distributed with a mean of $15,000 and a standard deviation of $7,5000. What is the probability of selecting a car from this market and its priced above $20,000.
- 2. Calculate the probabilities that a. the battery life is between 7.5 and 8 hours; and b. the battery life is less than 8 hours. Are these two probabilities different? Explain why or why not. 3. Suppose that you randomly picked 100 iPhones and calculated the average battery life for these phones. Provide your best guess of the value of the average.12. Over the last decade, robotic-drone a research and development company has researched in new drone technology for home delivery. Their sales department considers that they could sell as many as $90 million per year with a probability of 20%. With a most likely value of $76 million with a probability of 45% and a lowest value of $50 million. a. Determine the expected value of their sales. b. The sales department estimates that they could maintain this sales rhythm for 4 years with a probability of 67% or that this sales rhythm could be maintained for 8 years. Determine the Expected Value for the PW if the company considers a yearly interest rate of 10%An investment plan allows investors to deposit a minimum of £1,000 at the beginning of the term, which pays a fixed return rate of 5% per annum. Af- ter a year, investors have to deposit a minimum of £800 with an expected return rate of 3% per annum for the second year and a standard deviation of 2% per annum. a. Find the expected value of the total minimum amount earned after two years of investment. b. Find the standard deviation of the total minimum amount earned after two years of investment.
- r.edu/courses/97574/quizzes/357143/take ch results - yaz... Question 23 Consider the following probability distribution. xi 0 M Question Mode: M... 1 2 3 O 2.5 0.9 O 1.9 P(X = xi) O 1.5 0.1 The expected value is 0.2 0.4 0.3 Question 24 An analyst has constructed the following probability distribution for firm X's predicted return for upcoming year.An estate agent advertises its houses in two media; Daily Graphic and Ghanaian Times. The agent believes that there is a relationship between the sales S and the amounts spent on the two advertising media. The relationship is given by; where, d is the amount spent in Daily Graphic and g is the amount spent in Ghanaian Times. The estate’s agent fee is 12½% and this includes the cost of adverting. If the agent has planned to spend only 200 thousand Ghana Cedis on advertisement, show how it should be allocated between the two media in order to maximize net profit.5. Probability help me uhuhuhuh
- Guy Fieri has purchased a significant plot of land in Northwest Ohio for his newest venture: FlavorTownship. This hub for mind-boggling flavor and entertainment is a strictly for-profit operation. Guy would like to keep Flavor Township open all year-round, but due to Ohio weather the following are the probabilities of when it will be open: |- 30% chance it is open 300 days a year |- 55% chance it is open 325 days a year |- 15% chance it is open 350 days a year Flavor Township will expect to host 14,000 people each day that it is open and expects an average revenue of $45 per visitor. This paradigm-shifting landmark will cost $420,000,000 to start the investment and will require annual costs (food, employees, etc.) of $115,000,000. Every 3 years, Flavor Township will undergo necessary maintenance that will cost $22,000,000. If the expected life of Flavor Township is 15 years and a 16% return is expected, what is the expected NPV of this project?When playing roulette at a casino, a gambler is trying to decide whether to bet $10 on the number 30 or to bet $10 that the outcome is any one of the three possibilities 00, 0, or 1. 3 The gambler knows that the expected value of the $10 bet for a single number is - 53¢. For the $10 bet that the outcome is 00, 0, or 1, there is a probability of 38 of making a net profit of $30 and a probability of losing $10. 35 38 a. Find the expected value for the $10 bet that the outcome is 00, 0, or 1. b. Which bet is better: a $10 bet on the number 30 or a $10 bet that the outcome is any one of the numbers 00, 0, or 1? Why? a. The expected value is $. (Round to the nearest cent as needed.) b. Since the expected value of the bet on the number 30 is C than the expected value for the bet that the outcome is 00, 0, or 1, the bet on is better.A lottery has a grand prize of $1,000,000, 2 runner-up prizes of $100,000 each, 6 third-place prizes of $10,000 each, and 19 consolation prizes of $1,000 each. If a 4 million tickets are sold for $1 each, and the probability of any ticket winning is the same as that of any other winning, find the expected return on a $1 ticket. (Round your answer to 2 decimal places.
