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

The number of accidents occurring per week at a dangerous

The number of accidents occurring per week at a dangerous intersection, recorded over a period of 6 weeks are, 2, 1, 6, 5, 1, 3. What is the sample standard deviation for this data?

A company has 1000000 to invest in new rampd projects the

A company has $1,000,000 to invest in new R&D projects. The company wants to determine what set of projects should be selected. [Deterministic Scenario] The following table summarizes the initial cost and revenue potenti ...

A national survey of 40000 adults in the us in 1992 found

A national survey of 40,000 adults in the US in 1992 found that 26% of adults were current smokers. A similar survey of 37,000 adults in the US in 1966 found that 43% of adults were current smokers. Construct a 95% confi ...

1 why do researchers calculate the coefficient of

1. Why do researchers calculate the coefficient of determination? 2. What does a coefficient of determination of .40 indicate?

Mrjassica manager of appliances for midtown department

Mr.jassica, Manager of appliances for midtown department store feels that her inventory levels of stoves have been running higher than necessary. Before revising the inventory policy for stoves she records the number sol ...

The course text notes that tensions and differences in the

The course text notes that tensions and differences in the 1770s led to the American Revolution that eventually produced independence for the United States from Great Britain. When the War for American Independence broke ...

What was abraham lincolns view of slavery from the 1840s

What was Abraham Lincoln's view of slavery from the 1840s into the late 1850s, and how did it evolve? How did secession come about, and where did the sentiments for it originate? where did the sentiments for it originate ...

Consider a sealed-bid first-price auction with two buyers

Consider a sealed-bid first-price auction with two buyers whose private values are independent; the private value of buyer 1 has uniform distribution over the interval [0, 3], and the private value of buyer 2 has uniform ...

A shipment of 8 computers contains 2 with defects find the

A shipment of 8 computers contains 2 with defects. find the probability that a sample of size 4, drawn from the 8, will not contain a defective computer. What is the probability that a sample of 4 of the 8 computers will ...

1 how do quasi-experimental designs differ from true

1. How do quasi-experimental designs differ from true experiments? 2. Under what circumstances would a researcher use a quasi-experimental rather than an experimental design?

  • 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