Two construction contracts are to be randomly assigned to one or more of three firms: I, II, and III. Any firm may receive both contracts. Each contract will yield a profit of $90,000. Assume that firms I and II are actually owned by the same individual. Find the probability distribution of X, the owner's total profit.

Answers

Answer 1

Answer:

The owner's total profit is $120,000.

Step-by-step explanation:

Assume that:

X = contract is assigned to firm 1

X = contract is assigned to firm 2

The sample space for assigning the two contracts is:

S = {(I, I), (I, II), (I, III), (II, I), (II, II), (II, III), (III, I), (III, II) and (III, III)}

There are total of 9 possible combinations.

So, the probability of selecting any of the combination is, 1/9.

Compute the probability distribution of X₁ and X as follows:

X₁      P (X₁)                      X₂        P (X₂)

0        4/9                        0           4/9

1         4/9                        1            4/9

2         1/9                        2           1/9

Compute the expected values of X₁ and X as follows:

[tex]E(X_{1})=\sum X_{1}\cdot P(X_{1})\\\\=(0\times\frac{4}{9})+(1\times\frac{4}{9})+(2\times\frac{1}{9})\\\\=\frac{6}{9}\\\\=\frac{2}{3}[/tex]               [tex]E(X_{2})=\sum X_{2}\cdot P(X_{2})\\\\=(0\times\frac{4}{9})+(1\times\frac{4}{9})+(2\times\frac{1}{9})\\\\=\frac{6}{9}\\\\=\frac{2}{3}[/tex]

It is provided that each contract will yield a profit of $90,000.

Compute the owner's total profit as follows:

[tex]\text{Total Profit}=\text{Profit}\times [E(X_{1})+E(X_{2})][/tex]

                   [tex]=90000\times[\frac{2}{3}+\frac{2}{3}]\\\\=120000[/tex]

Thus, the owner's total profit is $120,000.


Related Questions

Candice is preparing for her final exam in Statistics. She knows she needs an 65 out of 100 to earn an A overall in the course. Her instructor provided the following information to the students. On the final, 200 students have taken it with a mean score of 57 and a standard deviation of 6. Assume the distribution of scores is bell-shaped. Calculate to see if a score of 65 is within one standard deviation of the mean.

Answers

Answer:

a. 72

b. 816

c. 570

d. 30

Step-by-step explanation:

Given the graph is a bell - shaped curve. So, we understand that this is a normal distribution and that the bell - shaped curve is a symmetric curve.

Please refer the figure for a better understanding.

a. In a normal distribution, Mean = Median = Mode

Therefore, Median = Mean = 72

b. We have to know that 68% of the values are within the first standard deviation of the mean.

i.e., 68% values are between Mean  Standard Deviation (SD).

Scores between 63 and 81 :

Note that 72 - 9 = 63 and

72 + 9 = 81

This implies scores between 63 and 81 constitute 68% of the values, 34% each, since the curve is symmetric.

Now, Scores between 63 and 81 =  

= 68 X 12 = 816.

That means 816 students have scored between 63 and 81.

c. We have to know that 95% of the values lie between second Standard Deviation of the mean.

i.e., 95% values are between Mean  2(SD).

Note that 90 = 72 + 2(9) = 72 + 18

Also, 54 = 63 - 18.

Scores between 54 and 90 totally constitute 95% of the values. So, Scores between 72 and 90 should amount to  of the values.

Therefore, Scores between 72 and 90 =  

= 570.

That is a total of 570 students scored between 72 and 90.

d. We have to know that 5 % of the values lie on the thirst standard Deviation of the mean.

In this case, 5 % of the values lie between below 54 and above 90.

Since, we are asked to find scores below 54. It should be 2.5% of the values.

So, Scores below 54 =  

= 2.5 X 12 = 30.

That is, 30 students have scored below 54.

Step-by-step explanation:

It is found that score of 62 is not within one standard deviation of the mean.

What is z - score?

The Z-score measures how many standard deviations the measure is from the mean. If we've got a normal distribution, then we can convert it to standard normal distribution and its values will give us the z score.

If we have  [tex]X \sim N(\mu, \sigma)[/tex]then it can be converted to standard normal distribution as

[tex]Z = \dfrac{X - \mu}{\sigma}, \\\\Z \sim N(0,1)[/tex]

In a set with mean and standard deviation, the z- score of a measure X is given by:

[tex]Z = \dfrac{X - \mu}{\sigma},[/tex]

Z-score, we look at the z-score table and find the p-value associated with this z-score.

Given that Mean score of 54 and a standard deviation of 6.

This means to see if a score of 62 is within one standard deviation of the mean.

Is Z between -1 and 1 when X = 62.

[tex]Z = \dfrac{X - \mu}{\sigma},\\Z = \dfrac{62 - 54}{6},[/tex]

Z = 1.33

Therefore, It is found that score of 62 is not within one standard deviation of the mean.

Learn more about z-score here:

https://brainly.com/question/21262765

#SPJ2

Multiply. Express your answer in simplest form. 9 1/6 × 1 1/11. A. 10 B. 9 1/66 C. 10 1/17 D. 10 5/6​

Answers

Answer:

9 1/66

Step-by-step explanation:

9 x 1 is 9 so its that but to add more proof the problem is 9 1/6, 1 1/11 multiply 6 and 11 it is 66 so the answer is 9 1/66

In a certain​ chemical, the ratio of zinc to copper is 4 to 17 . A jar of the chemical contains 663 of copper. How many grams of zinc does it​ contain?

Answers

Answer:

The jar contains 156 grams of zinc

Step-by-step explanation:

Ratios

Let's call

Z=gr of zinc

C=gr of copper

We know the ratio between them in a certain chemical is:

[tex]\displaystyle \frac{Z}{C}=\frac{4}{17}[/tex]

The jar of the chemical contains C=663 gr of copper. Calculate the grams of zinc by solving the above relation for Z:

Multiplying by C:

[tex]\displaystyle Z=\frac{4}{17}\cdot C[/tex]

Substituting the value of C:

[tex]\displaystyle Z=\frac{4}{17}\cdot 663[/tex]

Z=156 gr

The jar contains 156 grams of zinc

Wade picked 4 pints of blackberries. His friend, Matt, picked 6 pints. How
many pints did they pick altogether?

Answers

Together they picked 10 pints of blackberries.
10 pints in all , 4+6=10

Find the unknown angle measure.

Answers

Answer:

x=22

Step-by-step explanation:

180-77=103

103+55=158

180-158=22

x=22

the remote areas away from the coast is​

Answers

Answer:

Pole of Inaccessibility


Emilia wrote a total of 12 pages over 4 hours. After spending 6 hours writing this week, how
many pages will Emilia have written in total? Assume the relationship is directly proportional.

Answers

Answer:

30 pages

Step-by-step explanation:

Knowing she wrote 12 pages in 4 hours, we can do 12/4 to get 3 pages per hour. Multiply 3 pages by the 6 hours she spends writing and you get 18 pages in 6 hours. Add 12 pages and 18 pages and you have 30 pages.

Sophia says that you can solve the problem in the Example by multiplying both quantities in the ratio 60:36 by one-sixth. Is Sophia correct?

Answers

Answer:

Sophia is not correct

Step-by-step explanation:

The given situation represent the problem of a ratio and it is predicted to do the simplify the ratio by determining the smallest possible values

Here it can be presented 60:36 as a fraction i.e. [tex]\frac{60}{36}[/tex]

Now the fraction should be fall by dividing both the numerator and denominator by a common factor i.e. 6

Now after dividing it, the fraction would be [tex]\frac{10}{6}[/tex]

Now it can be further reduced by a common factor i.e. 2

So now the fraction is [tex]\frac{5}{2}[/tex]

Thus, the ratio is 5:2

Hence, she is not correct

The components of a vector are Ax = –10 units and Ay = 8 units. What angle does this vector make with the positive x axis? g

Answers

Answer:

This vector make an angle of 141° with the positive x axis

Step-by-step explanation:

Refer the attached figure

Components of vector :

[tex]A_x=-10 \\A_y = 8[/tex]

We are supposed to find  What angle does this vector make with the positive x axis

[tex]tan \theta =\frac{A_y}{A_x}\\tan \theta =\frac{8}{-10}\\\theta =tan^{-1}(\frac{8}{-10})\\\theta =tan^{-1}(\frac{8}{-10})=-38.65^{\circ}[/tex]

Now ,

[tex]\alpha = 180-38.65=141.35^{\circ}[/tex]

So, this vector make an angle of 141° with the positive x axis

A survey of 1282 student loan borrowers found that 440 had loans totaling more than $20,000 for their undergraduate education. Give a 98% confidence interval for the proportion of all student loan borrowers who have loans of $20,000 or more for their undergraduate education. (Give answers accurate to 3 decimal places.)

Answers

Answer:

The 98% confidence interval of the proportion = (0.312, 0.374)

Step-by-step explanation:

(Give answers accurate to 3 decimal places.)

The formula for Confidence Interval of Proportion is given as:

p ± z × √p(1 - p)/n

Where p = Proportion = x/n

x = 440

n = 1282

p = 440/1282 = 0.34321372854

Approximately = 0.343

z = z-score of 98 % confidence interval

= 2.326

Confidence Interval =

= 0.343 ± 2.326 × √0.343(1 - 0.343)/1282

= 0.343 ± 2.326 × √0.225351/1282

= 0.343 ± 2.326 × √0.00017578081

= 0.343 ± 2.326 × 0.01325823555

= 0.343 ± 0.03083865589

0.343 - 0.03083865589

= 0.31216134411

Approximately = 0.312

0.343 + 0.03083865589

= 0.37383865589

Approximately to = 0.374

Therefore, the 98% confidence interval of the proportion = (0.312, 0.374)

Write an equation, in slope-intercept form,
for a line that passes through points (-4, 1)
and (2. 4).

Answers

Answer:

y = (3/2)x + 7

Step-by-step explanation:

(−4, 1) and (−2, 4)

 

slope m = rise/run = (4-1)/(-2-(-4)) = 3/2

 

Slope intercept form is y=mx+b

where m=slope, b = y-inercept

 

y = (3/2)x + b

 

Use one of the given points for (x,y) to find b

 

1 = (3/2)(-4) + b

1 = -6 + b

7 = b

 

y = (3/2)x + 7

Drag the tiles to the correct boxes to complete the pairs. Not all tiles will be used Match the rates with their equivalent unit rates. Not all tiles will be used. Will give brainlyest if correct. Need answers ASAP.​

Answers

Answer:

6,5,4,7,8

Step-by-step explanation:

Starting from 42/7

Hope this helped!

When holding your arms horizontal, your body is the line of reflection. true or false?

Answers

Answer:

true

Step-by-step explanation:

Your arms would be the line and your body would be the y-axis, and your arms are on either side of the y-axis which means your body is the line of reflection

Hope this helps.

A farm has 56 horses and sheep in all. There are 8 fewer sheep than horses. How many horses are there on the farm?

Answers

Answer:

32 Horses

Step-by-step explanation:

32-8=24

There are 32 horses and 24 sheep (As you can see there are 8 fewer sheep than horses)

I sort of guess and checked:

I tried to think of 2 numbers that added to 56 but one number was 8 less than the other one.I figured out that 32 and 24 fit this description :)

PLEASE HELP!!


Sorry for all the tabes I'm working on a presentation at the same time.

Answers

Answer:

0.5

Step-by-step explanation:

use rise over run, from (-6,0) to (0,3) it rises 3 and runs 6. 3/6 = 1/2.

Answer:

the slope is two

Step-by-step explanation:

rise over run

an aquarium has display tanks that each contain 175 fish.how many fish are on display in 6 tanks

Answers

Answer:

1050 fish

Step-by-step explanation:

175(6 tanks) = 1050

Does anybody know will mark you as crown

Answers

neither

Step-by-step explanation:

parallel has same slope and perpendicular has opposite reciprocal slope and this has neither

Which of the following equations is equivalent to 30 = 2 ( -2x + 6

Answers

Answer:

30=-4x+12

Step-by-step explanation:

they both equal -9/2

A backpack costs $18 and has a 7 percent tax. How much will Sheila have to pay for the backpack after tax?
O $1.26
O $5.40
O $19.26
O $30.60

Answers

Answer:

1

Step-by-step explanation:

1.26

19.26. Do not forget to add your backpacks cost to the tax. You can take 18 dollars times 1.07 to get the tax and add the tax to the 18. Hope that helps!

Help. (Math) The following construction was performed. What distance did the compass have to be set to sweep the two arcs through point T?

1. RP

2. QR

3. QT

4. QP​

Answers

I think QT is the answer u need

A diver swims 5.875 feet up to the surface of the water. Which number represents the diver’s position in relation to the surface before swimming to the top?
-5.9 feet
Negative 5 and three-fourthsfeet
-58 feet
Negative 5 and StartFraction 7 over 8 EndFractionfeet

Answers

Answer:

Negative 5 and 7 over 8

Step-by-step explanation:

Answer:

Negative 5 and StartFraction 7 over 8

Step-by-step explanation:

FIND THE UNIT RATE OF EACH SCENARIO.

TYPE YOUR ANSWER IN THE TEXT BOX BELOW.

0

2

Daxton is paid $48 in 6

hours. How much IS Daxton

Palld per hour?

Allison types 900 words in 20

Minutes. How many words

can she type per minutter

3

4

A Printing company can

print 15,000 flyers in 10

minutes. How many flyers

can be printed per minutes

Jeff traveled 300 miles and

Used 12 gallons Of gas. HOW

many mlies did he travel per

gaion Of gas?

Answers

1. Daxton is paid 8 dollars per hour.

2. Allison can type 45 words per minute.

3. 1,500 flyers can be printed per minute.

4. He traveled 45 miles per gallon of gas.









Explanation: You divide the two numbers that are being used in the word problem.

There is a paper attached only 5 questions :)

Answers

Answer:

Question 1: 20,160 cookies

Question 2: 37,600 letters

Question 3: 252,396 squares on each tablecloth

Question 4: 138,762 points

Question 5: 4,652,352 shrimp

Step-by-step explanation:

Question 1: Multiply 315 and 64 to get amount of cookies

Question 2: Multiply 940 and 40 to get the number of letters

Question 3: Multiply 36 and 7,011

Question 4: Multiply 26 and 5,337 to get the number of points

Question 5: Multiply 96 and 48,462 to get the number of shrimp the chef prepared.

:)

Each class was given 225 glue sticks there are 22 classes so how many do each class get

Answers

Answer: 10.2272727273

Step-by-step explanation:

Answer:

Each class = 225 glue sticks

22 classes = 225*25  

                   = 5625 glue sticks

What is the leading coefficient of a third degree polynomial function that has an output of 1,272 when x=2, and has zeros of −6, 7i, and −7i?

Answers

Answer:

The leading coefficient is 3

Step-by-step explanation:

Polynomials

Given the roots of a polynomial x1,x2,x3, it can be expressed as:

[tex]p(x)=a(x-x1)(x-x2)(x-x3)[/tex]

Where a is the leading coefficient.

We are given the roots x1=-6, x2=7i, x3=-7i, thus:

[tex]p(x)=a(x+6)(x-7i)(x+7i)[/tex]

Operating the product of the conjugated imaginary roots:

[tex]p(x)=a(x+6)(x^2+49)[/tex]

Knowing p(2)=1,272 we can find the value of a

[tex]p(2)=a(2+6)(4+49)=1,272[/tex]

Operating:

[tex]a(8)(53)=1,272[/tex]

[tex]424a=1,272[/tex]

Solving:

[tex]a=1,272/424[/tex]

a=3

The leading coefficient is 3

Answer:

3

Step-by-step explanation:

Simplify 2x^3 х 3x^2 ​

Answers

Answer:

ans = 6x4

Step-by-step explanation:

(2x2)(3x2)

first multiply the coefficients

(2*3) = 6

next multiply the variables

(x2*x2) = x2+2 = x4

productofcoeficients,productofvariables

= 6x4

M is the midpoint of line segment PQ. MQ = 5x + 8 and PQ = 6x + 65, find x

Answers

Answer:

freeeeeeeeeeeeeeeeeeeeeeeee

Step-by-step explanation:

trump 20202020202020020202020

Round 543,982 to the nearest hundred thousand

Answers

Answer:

500,000

Step-by-step explanation:

Please give brainleist

Answer:

500,000

Step-by-step explanation:

The hundred thousands place is bold so you can tell where it is. 543,982

To round you look at the 4 since it is below 5 you round down and it'll remain as 500,000

Hope that helps and have a great day!

The graph below shows the elevation of three submarines during their first four minutes depending into the water which statement is true?

Answers

Answer:

ANSWER IS A I THINK

Step-by-step explanation:

7th grade math help me plzzzz

Answers

Answer:

b, c, f are coorrect inequalities

Step-by-step explanation:

hope i helped :D

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