Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Statistics and Probability Expert

An engineering firm bids on contracts for the short-term jobs where each job can generate the profit of $100,000 for the firm. Assume the probabilities of getting zero to five such jobs in the certain month are given in table below:

Number of jobs Probability
0 0.05
1 0.15
2 0.20
3 0.25
4 0.20
5 0.15

a) Find out the expected profit throughout the month for firm.

b) Find out the variance of firm's profit for month.

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M921493

Have any Question? 


Related Questions in Statistics and Probability

A committee comprised of 15 members is called upon to

A committee comprised of 15 members is called upon to choose the prettiest color: red, blue, or yellow. The committee members simultaneously announce their strict preference relations among these three colors. If red is ...

30000 people participated in an online poll on cnncom

30,000 people participated in an online poll on cnn.com conducted in April 2012 asking "Have you ever driven with a pet on your lap?" 34% of the participants answered yes and 66% answered no. (a) Can we conclude that 34% ...

A new study provides some evidence that playing action

A new Study provides some evidence that playing action video games strengths a person's ability to translate sensory information into accurate decisions. Researchers had 23 male volunteers with an average age of 20 look ...

Is there any difference between the proportion of americans

Is there any difference between the proportion of Americans who wish they were rich and the proportion of Canadians who wish they were rich? A random sample of 1,000 Americans showed that 550 wish they were rich, while a ...

Tell whether each of the following relationships reflects a

Tell whether each of the following relationships reflects a positive or a negative correlation: a. the amount of stress in people's lives and the number of colds they get in the winter b. the amount of time that people s ...

Nicollette joined towson university basketball team since

Nicollette joined Towson University basketball team since summer 2015. On average, she is able to score 30% of the field goals. Assume she tries 15 field goals in a game. (a) Let X be the number of field goals that Mimi ...

A sample of 19 school children was randomly selected and

A sample of 19 school children was randomly selected and their age, height and weight was recorded for each child. The results are given below. The goal is to predict the weight of the child by using the height and age. ...

Suppose that a ge 3 and let f be a social welfare function

Suppose that |A| ≥ 3, and let F be a social welfare function satisfying the properties of unanimity and independence of irrelevant alternatives. What are all the decisive coalitions?

A sample size of 50 is selected from a normal distribution

A sample size of 50 is selected from a normal distribution having a mean of 95 and a standard deviation equal to 15. What is the probability of selecting a sample having a mean exceeding 100?

Analyze the emergence of the counter-culture identity

Analyze the emergence of the counter-culture, identity politics, and liberation movements beginning in the late 1960s. Why did these movements emerge at that time? How did they reshape American culture and politics? Were ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro