Question

In: Statistics and Probability

Jennifer is a competitive runner. In the past she has won 40% of races in within...

Jennifer is a competitive runner. In the past she has won 40% of races in within a season. This season she will compete in 10 races

1. Find the probability that she will will exactly 3 races this season.

2. Find the probability that she will win between 3 and 5 races (inclusive) this season

Expert Solution

Probability of win for Jennifer, w = 0.4

Probability of losing for Jennifer, l = 1 - 0.4 = 0.6.

Jennifer is participating in 10 races.

Probability of winning in n races, P(n) = * wⁿ * l^(10-n) = * 0.4ⁿ * 0.6^(10-n)

1. Probability that she will will exactly 3 races,

P(3) = * 0.4³ * 0.6^(10-3)

P(3) = * 0.4³ * 0.6⁷ = 0.215

2. Probability that she will win between 3 and 5 races (inclusive) :

P(3 X 5) = P(3) + P(4) + P(5) = * 0.4³ * 0.6^(10-3) + * 0.4⁴ * 0.6^(10-4) + * 0.4⁵ * 0.6^(10-5)

P(3 X 5) = 0.2150+ 0.2508 + 0.2007 = 0.6665 = 66.65%.

Hope I answered your query. Do like and comment , if u like my answer.

orchestra answered 2 years ago

Jennifer, a self-employed taxpayer, is married and has two children. As her Tax Advisor, she has...

Jennifer, a self-employed taxpayer, is married and has two children. As her Tax Advisor, she has asked you to explain the tax and non-tax advantages of creating a Health Savings Account (HAS) for her and her family. Explain if having an HSA is really worth it to someone in Jennifer’s situation. Should all taxpayers take advantage of such tools? Explain and justify your reasoning using accounting practices and principles.

Jennifer is 72 years old and has been confined to bed while she recovers from a...

Jennifer is 72 years old and has been confined to bed while she recovers from a hip fracture. Why does her doctor say she is at risk for developing a bladder infection? Describe the correlation between Jennifer's condition and a possible bladder infection.

Alysha has just won a lottery. She will receive a payment of $8,000 at the end...

Alysha has just won a lottery. She will receive a payment of $8,000 at the end of each year for 9 years. As an alternative, she can choose an immediate payment of $55,000. A. Which alternative should she pick if the interest rate is 4 percent: make a payment at the end of each year or an immediate payment? (choose) B. What would the interest rate have to be for Alysha to be indifferent about the two alternatives? (Round answer...

Alysha has just won a lottery. She will receive a payment of$8,000 at the end...

Alysha has just won a lottery. She will receive a payment of $8,000 at the end of each year for 9 years. As an alternative, she can choose an immediate payment of $55,000.A. Which alternative should she pick if the interest rate is 4 percent: make a payment at the end of each year or an immediate payment? (choose)B. What would the interest rate have to be for Alysha to be indifferent about the two alternatives? (Round answer to 4...

Jennifer Davis has been offered a future payment of $780 two years from now. If she...

Jennifer Davis has been offered a future payment of $780 two years from now. If she can earn an annual rate of 7.20 percent, compounded daily, on her investment, what should she pay for this investment today? (If you solve this problem with algebra round intermediate calculations to 5 decimal places, in all cases round your final answer to the nearest penny.)

Your girlfriend just won the Florida lottery. She has the choice of $50,000,000 today or a...

Your girlfriend just won the Florida lottery. She has the choice of $50,000,000 today or a 20-year annuity of $3,850,000, with the first payment coming one year from today. If the mutual fund of hers provides 4% of return each year for the next 20 years, which payment option is more attractive to her? a. $50,000,000 b. 20-year annuity of $3,850,000 c. The two are the same d. Could not tell

What is the best selection for Amber from the following options? She has just won a...

What is the best selection for Amber from the following options? She has just won a lottery. She expects to earn 11% annually. Option 1 : She can elect to receive a lump sum today $63million Option 2 : She can elect to receive 10 end-of-year payments of $9.8 million Option 3 : She can elect to receive 30 end-of-year payments of $5.8 million.

Discuss a news item or event that has arisen within the PAST MONTH that has relevance...

Discuss a news item or event that has arisen within the PAST MONTH that has relevance to ethics in business. Include the following: Topic Date Source which may include, radio, television, newspaper, internet, etc. Summary of the news item Conclusions or commentary about relevance to ethics in business no hand written answers

Briefly describe a merger or acquisition that has been in the news within the past year...

Briefly describe a merger or acquisition that has been in the news within the past year and provide a link to the information. What is the economic justification for the merger? Does the merger or acquisition substantially reduce competition? Will the industry tend to remain competitive after the merger, or will it tend to become more concentrated (as with an oligopoly or monopoly)? Will consumers benefit from the merger or acquisition?

Find an example online of a cyber attack or breach that has happened within the past...

Find an example online of a cyber attack or breach that has happened within the past 3 years. Provide the link and summarize what you found. What type of threat was represented in this example? Why/how do you feel this occurred? What could have been done differently to protect against this threat?