Problem 1 Slot machines have three drums with the same number of positions on each drum. Each position contains a symbol. When you pull the lever on the machine, the drums spin. Assume that each drum is equally likely to stop in any position, and that the positions in which the three drums stop are independent of each other and independent from spin to spin. Suppose a particular slot machine has 9 positions on each drum, and that each position contains one of two symbols: an eggplant or a grapefruit. You win the jackpot if all three drums stop with eggplants showing. The first drum has 2 eggplants and 7 grapefruits, the second has 5 eggplants and 4 grapefruits, and the third drum has 4 eggplants and 5 grapefruits. A) In each pull of the lever, the probability of winning the jackpot is ____ B) The number of times I win the jackpot in 20 attempts has: a) an Hypergeometric distribution b) a negative binomial distribution d) a geometric distribution e) none of the above? C) The probability of winning the jackpot at least once in 20 attempts is ____ D) The number of attempts it takes to win the first jackpot has ____ E) The probability that it takes exactly 20 attempts to win the jackpot the first time is ____ F) The number of attempts it takes to win the jackpot for the sixth time has ____ G) The chance that I win the jackpot for the sixth time on my twentieth attempt is ____

1. Problem 16-05

   To generate leads for new business, Gustin Investment Services offers free financial planning seminars at major hotels in Southwest Florida. Gustin conducts seminars for groups of 25 individuals. Each seminar costs Gustin $3100, and the average first-year commission for each new account opened is $5800. Gustin estimates that for each individual attending the seminar, there is a 0.01 probability that he/she will open a new account.

   1. Determine the equation for computing Gustin’s profit per seminar, given values of the relevant parameters. Round your answers to the nearest dollar.
      
      Profit = (New Accounts Opened × $  ) – $  
      
   2. What type of random variable is the number of new accounts opened? (Hint: Review Appendix 16.1 for descriptions of various types of probability distributions.)
      
      The number of new accounts opened is a   random variable with  trials and  probability of a success on a single trial.
      
   3. Assume that the number of new accouts you get randomly is:
      

      Simulation Trial	New Accounts
      1	0
      2	0
      3	1
      4	0
      5	0
      6	0
      7	0
      8	1
      9	0
      10	2
      11	0
      12	0
      13	0
      14	2
      15	1
      16	0
      17	0
      18	0
      19	1
      20	0
      21	0
      22	0
      23	0
      24	0
      25	0

      
      Construct a spreadsheet simulation model to analyze the profitability of Gustin’s seminars. Round the answer for the expected profit to the nearest dollar. Round the answer for the probability of a loss to 2 decimal places.
      
      The expected profit from a seminar is $   and there is a  probability of a loss.
      
      Would you recommend that Gustin continue running the seminars?
      
      Gustin   the seminars in their current format.
      
   4. How large of an audience does Gustin need before a seminar’s expected profit is greater than zero? Use Trial-and-error method to answer the question. Round your answer to the nearest whole number.
      
      attendees

To generate leads for new business, Gustin Investment Services offers free financial planning seminars at major hotels in Southwest Florida. Gustin conducts seminars for groups of 25 individuals. Each seminar costs Gustin $3200, and the average first-year commission for each new account opened is $5200. Gustin estimates that for each individual attending the seminar, there is a 0.01 probability that he/she will open a new account.

1. Determine the equation for computing Gustin’s profit per seminar, given values of the relevant parameters. Round your answers to the nearest dollar.
   
   Profit = (New Accounts Opened × $ _____ ) – $_____
   
2. What type of random variable is the number of new accounts opened? (Hint: Review Appendix 16.1 for descriptions of various types of probability distributions.)
   
   The number of new accounts opened is a _____ random variable with ____ trials and ____ probability of a success on a single trial.
   
3. Assume that the number of new accouts you get randomly is:
   

   Simulation Trial	New Accounts
   1	0
   2	1
   3	1
   4	2
   5	0
   6	0
   7	1
   8	1
   9	0
   10	0
   11	0
   12	0
   13	2
   14	1
   15	0
   16	0
   17	0
   18	0
   19	0
   20	1
   21	0
   22	0
   23	0
   24	0
   25	0

   
   Construct a spreadsheet simulation model to analyze the profitability of Gustin’s seminars. Round the answer for the expected profit to the nearest dollar. Round the answer for the probability of a loss to 2 decimal places.
   
   The expected profit from a seminar is $ ___ and there is a ____ probability of a loss.
   
   Would you recommend that Gustin continue running the seminars?
   
   Gustin ____ the seminars in their current format.
   
4. How large of an audience does Gustin need before a seminar’s expected profit is greater than zero? Use Trial-and-error method to answer the question. Round your answer to the nearest whole number.
   
   _____ attendees

Problem 16-05

To generate leads for new business, Gustin Investment Services offers free financial planning seminars at major hotels in Southwest Florida. Gustin conducts seminars for groups of 25 individuals. Each seminar costs Gustin $3100, and the average first-year commission for each new account opened is $5800. Gustin estimates that for each individual attending the seminar, there is a 0.01 probability that he/she will open a new account.

1. Determine the equation for computing Gustin’s profit per seminar, given values of the relevant parameters. Round your answers to the nearest dollar.
   
   Profit = (New Accounts Opened × $  ) – $  
   
2. What type of random variable is the number of new accounts opened? (Hint: Review Appendix 16.1 for descriptions of various types of probability distributions.)
   
   The number of new accounts opened is a   random variable with  trials and  probability of a success on a single trial.
   
3. Assume that the number of new accouts you get randomly is:
   

   Simulation Trial	New Accounts
   1	1
   2	2
   3	0
   4	0
   5	1
   6	0
   7	0
   8	0
   9	2
   10	0
   11	0
   12	0
   13	0
   14	0
   15	2
   16	0
   17	1
   18	0
   19	2
   20	0
   21	0
   22	0
   23	0
   24	2
   25	0

   
   Construct a spreadsheet simulation model to analyze the profitability of Gustin’s seminars. Round the answer for the expected profit to the nearest dollar. Round the answer for the probability of a loss to 2 decimal places.
   
   The expected profit from a seminar is $   and there is a probability of a loss.
   
   Would you recommend that Gustin continue running the seminars?
   
   Gustin   the seminars in their current format.
   
4. How large of an audience does Gustin need before a seminar’s expected profit is greater than zero? Use Trial-and-error method to answer the question. Round your answer to the nearest whole number.
   
   attendees

Problem 16-05

To generate leads for new business, Gustin Investment Services offers free financial planning seminars at major hotels in Southwest Florida. Gustin conducts seminars for groups of 25 individuals. Each seminar costs Gustin $3900, and the average first-year commission for each new account opened is $4900. Gustin estimates that for each individual attending the seminar, there is a 0.01 probability that he/she will open a new account.

1. Determine the equation for computing Gustin’s profit per seminar, given values of the relevant parameters. Round your answers to the nearest dollar.
   
   Profit = (New Accounts Opened × $  ) – $  
2. What type of random variable is the number of new accounts opened? (Hint: Review Appendix 16.1 for descriptions of various types of probability distributions.)
   
   The number of new accounts opened is a random variable with  trials and  probability of a success on a single trial.
3. Assume that the number of new accouts you get randomly is:

4. 
   Construct a spreadsheet simulation model to analyze the profitability of Gustin’s seminars. Round the answer for the expected profit to the nearest dollar. Round the answer for the probability of a loss to 2 decimal places.
   
   The expected profit from a seminar is $   and there is a  probability of a loss.
   
   Would you recommend that Gustin continue running the seminars?
   
   Gustin the seminars in their current format.
5. How large of an audience does Gustin need before a seminar’s expected profit is greater than zero? Use Trial-and-error method to answer the question. Round your answer to the nearest whole number.
   
   attendees

Which of the following should have the highest boiling point? ["CBr4 carbon tetrabromide", "CI4 carbon tetraiodide", "CF4 carbon tetrafluoride", "CH4 methane", "CCl4 carbon tetrachloride"]

Which of the following should have the lowest boiling point?["C5H12", "C6H14", "C10H22", "C12H26"]

Which of the following should have the highest surface tension at a given temperature? ["CI4", "CH4", "CBr4", "CF4", "CCl4"]      

Which of the following would have the highest viscosity at room temperature? ["C9H18", "C5H12", "C7H14", "C8H17NH2", "CH3NH2"]      

1. Acetone

2. Water

3.Isopropyl alcohol

A. Rank the three liquids, from slowest rate to the highest rate of evaporation based on the expiremental temperature vs time curve?

B. How does the ranking in A compare to the ranking of the boiling points, from the lowest to highest?

C. How does the ranking in A compare to the ranking of the heats of vaporization, from lowest to highest?

D. Explain the above findings based on any differences between the substances sets of intermolecular interactions.

Explain the differences in ranking stocks according to the standard deviation (SD) and beta. This should entail explaining the different aspects that SD and beta measure, and why a stock that has the highest standard deviation might not have the highest beta.

Which one of the following salts, when dissolved in water, produces the solution with the highest pH? Which one of the following salts, when dissolved in water, produces the solution with the highest pH? CH3NH3I LiClO4 MgO NaHSO 4

A second price auction is one in which the object fr sale is sold to the highest bidder at the second highest bidder’s price. In an independent private values auction, show that it is a dominant strategy for a bidder to bid his true valuation.