Find the expected value. Mr. Cameron is sponsoring an summer concert. He estimates that he will?
-
Question 9 Find the expected value. Mr. Cameron is sponsoring an summer concert. He estimates that he will make $300,000 if it does not rain and make $60,000 if it does rain. The weather bureau predicts the chance of rain is 0.34 for the day of the concert. An insurance company is willing to insure the concert for $150,000 against rain for a premium of $30,000. If he buys this policy, what are his expected earnings from the concert? Answer $270,000 $180,000 $300,000 $239,400 Samantha is taking courses in math and English. The probability of passing math is estimated at 0.4 and English at 0.6. She also estimates that the probability of passing at least one of them is 0.8. What is her probability of passing both courses? Answer 0 0.8 0.2 0.12 Use Bayes' rule to find the indicated probability. An water well is to be drilled in the desert where the soil is either rock, clay or sand. The probability of rock P(R) = 0.53. The clay probability is P(C) = 0.21. The sand probability is P(S) = 0.26. It if it rock, a geological test gives a positive result with 35% accuracy. If it is clay, this test gives a positive result with 48% accuracy. The test gives a 75% accuracy for sand. Given the test is positive, what is the probability that soil is rock, P(sand | positive)? Answer P(sand | positive) = 0.26 P(sand | positive) = 0.405 P(sand | positive) = 0.385 P(sand | positive) = 0.209 please explain how to solve them. thanks :)
-
Answer:
Do your own homework, all these questions are of the same type,
Myyongyo... at Yahoo! Answers Visit the source
Other answers
Mr. Cameron is sponsoring an summer If it rains, he would earn 60,000-30,000+150,000 = 180,000 If it doesn't rain, he would earn 300,000-30,000 = 270,000 Expected earnings = 180,000(0.34)+270,000(0.66) = $239,400 --------------------------------------… Samantha is taking courses in math and English A = pass math B = pass English P(A)=.4 P(B)=.6 P(A U B) = 0.8 P(A U B) = P(A) + P(B) - P(A ∩ B) 0.8 = .4 +.6 - 0.2 P( A ∩ B) = 0.2 --------------------------------------… An water well is to be drilled P(R)=0.53 P(C)=0.21 P(S)=0.26 Let X = positive result P(X/R) = .35 P(X/C) = .48 P(X/S) = .75 P(S/X) = ? P(S/X) = P(S) P(X/S) / [ P(R) P(X/R) + P(C) P(X/C) + P(S) P(X/S) ] --- Bayes' theorem P(S/X) = (0.26)(0.75) / [ (0.53)(0.35) + (0.21) (0.48) +(0.26)(0.75)] = 0.405
cidyah
Related Q & A:
- Where can I find cheap Jonas Brothers concert tickets?Best solution by Yahoo! Answers
- How do I find the Critical Value?Best solution by Yahoo! Answers
- How would I find the present value of a short position zero coupon bond?Best solution by Yahoo! Answers
- Any estimates on how much a plane ticket will cost from United States to Spain?Best solution by Yahoo! Answers
- How do you find out the value of your barbies?Best solution by ChaCha
Just Added Q & A:
- How many active mobile subscribers are there in China?Best solution by Quora
- How to find the right vacation?Best solution by bookit.com
- How To Make Your Own Primer?Best solution by thekrazycouponlady.com
- How do you get the domain & range?Best solution by ChaCha
- How do you open pop up blockers?Best solution by Yahoo! Answers
For every problem there is a solution! Proved by Solucija.
-
Got an issue and looking for advice?
-
Ask Solucija to search every corner of the Web for help.
-
Get workable solutions and helpful tips in a moment.
Just ask Solucija about an issue you face and immediately get a list of ready solutions, answers and tips from other Internet users. We always provide the most suitable and complete answer to your question at the top, along with a few good alternatives below.