Invitations to a party are sent to 100 student. a) Suppose that for every student, the...

Invitations to a party are sent to 100 student.

a) Suppose that for every student, the chance that he or she will attend the party is 40% if it rains and 80% if it does not rain. If the weather forecast says it will rain with a probability of 30%, how many students are expected to show up for the party?

b) Find the probability that at least 70 students show up for the party. If you use approximation methods, state and check the conditions.

Solutions

Expert Solution

orchestra answered 1 year ago

Next > < Previous

Related Solutions

Suppose the sales in the first year, R, are $100 and they grow every year at...

Suppose the sales in the first year, R, are $100 and they grow every year at a growth rate of g = 10%. Also, suppose that the net margin is 40%. This means that earnings in the first year are going to be 0.4*100 = $40. Assuming that the discount rate, d, is 25%. What is the present value of earnings assuming that the company survives for 10 years?

A professor sent his graduate student to the green house to apply treatments to potted plants. There...

A professor sent his graduate student to the green house to apply treatments to potted plants. There were 4 treatments and a total of 12 pots containing plants. The professor told the student to “randomly assign pots to treatments.” The pots were arranged on a table with 4 rows each containing 3 plants. The graduate student put 4 tickets in a hat, one each with the numbers 1, 2, 3, and 4 written on them. As he got to each row, he drew...

4. * Suppose that jobs are sent to a printer at an average rate of 10...

4. * Suppose that jobs are sent to a printer at an average rate of 10 per hour. (a) Let X = the number of jobs sent in an hour. What is the distribution of X? Give the name and parameter values. (b) What is the probability that exactly 8 jobs are sent to the printer in an hour? (c) Let X = the number of jobs sent in a 12 min period. What is the distribution of X? Give...

Every semester after course grades are sent out, professors are swamped with emails from students asking...

Every semester after course grades are sent out, professors are swamped with emails from students asking why they got the grades they did (always below expectations). The answer usually is that they messed up on the final exam. Use your knowledge of opportunity cost to provide to these professors advice or suggestions on how to reduce these solicitations in the future? Hint: Hint: simply ignoring student emails is not an option.

A philanthropic organisation sent free mailing labels and greeting cards to a random sample of 100...

A philanthropic organisation sent free mailing labels and greeting cards to a random sample of 100 comma 000 potential donors on their mailing list and received 5404 donations. (a) Give a 90% confidence interval for the true proportion of those from their entire mailing list who may donate. (b) A staff member thinks that the true rate is 5.2%. Given the confidence interval you found, do you find that rate plausible?

Suppose that 32 of the 1500 people that received an email we sent, clicked on the...

Suppose that 32 of the 1500 people that received an email we sent, clicked on the offer image. What is the estimate for the left end point of a 95% confidence interval for the proportion of people in the population that will click on an offer that we send them?

What is the probability that every student in a class of 20 will pass the quiz?

Suppose that I am spending $6,000 every month, but now I suppose to save $2,000 every...

Suppose that I am spending $6,000 every month, but now I suppose to save $2,000 every month and only spend $4,000. According to the classical economists, how will this decision to save affect my country’s RGDP? RGDP will increase RGDP will decrease RGDP will not change Suppose that the current wage rate in a market is $14 per hour and the equilibrium wage rate is $12. Given this information, we can assume that… The quantity of labor supplied will exceed...

Suppose that a party wanted to enter into an FRA that expires in 42 days and...

Suppose that a party wanted to enter into an FRA that expires in 42 days and is based on 137-day LIBOR. The dealer quotes a rate of 4.75% on this FRA. Assume that at expiration, the 137-day LIBOR is 4% and the notional principal is $40,000,000. Calculate the FRA payoff on a short position .

Suppose that a party wanted to enter an FRA that expires in 42 days and is...

Suppose that a party wanted to enter an FRA that expires in 42 days and is based on 123-day LIBOR. The dealer quotes a rate of 0.0437 on the FRA. Assume that at expiration, the 123-day LIBOR is 0.0229, and the notional amount is USD15,000,000. What is the payoff of the FRA LONG position?

Subjects