The SUNY board of directors has 8 members. i. If they need to select a Chairman,...

The SUNY board of directors has 8 members.

i. If they need to select a Chairman, a Secretary and a Treasurer, how many different slate of officers can be created?

ii.. If they need to select a 3 member subcommittee, how many different subcommittees can be formed?

b. A man pays $400 for a 1 year life insurance with coverage of $200,000. Given his age, he has a .995 chance of living for at least another year. what is the expected value of the policy?

Should he buy it or not? Why or Why not?

c. The TV show Scandal has a 20 share, meaning that 20% of the households are tuned to this show. A special focus group of 120 households are chosen.

i. What is the expected number of households watching this show?

ii. What is the mean number of households watching this show?

iii. What is the standard deviation?

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Expert Solution

orchestra answered 1 year ago

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