Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Statistics and Probability Expert

To find the expected value as well as variance using probability distribution.

The budgeting process for a Midwestern college caused in expense forecasts for the coming year (in $ millions) of $9, $10, $11, $12, and $13. For the reason that the actual expenses are unknown the following respective probabilities are assigned- .3, .2, .25, .05, and .2.

1) Show the probability distribution for the expense forecast.

2) What is the expected value of the expense forecast for the coming year?

3) What is the variance of the expense forecast for the coming year?

4) If income projections for the year are estimated at $12 million comment on the financial position of the college.

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M922274

Have any Question? 


Related Questions in Statistics and Probability

In january 2011 the average monthly rental rate for

In January 2011, the average monthly rental rate for one-bedroom apartments in a certain city was $783. Suppose rental rates across all one-bedroom apartments in this city follow approximately a normal distribution, with ...

A social psychologist is interested in whether the type of

A social psychologist is interested in whether the type of music a college student is listening to will have any effect on the number of beers the student drinks. Fifteen college students were randomly assigned to one of ...

1 should demand characteristics be eliminated or

1. Should demand characteristics be eliminated or strengthened in an experiment? Explain. 2. How do researchers detect and eliminate placebo effects? 3. What effect does error variance have on the results of an experimen ...

A family is relocating from st louis missouri to california

A family is relocating from St. Louis, Missouri, to California. Due to an increasing inventory of houses in St. Louis, it is taking longer than before to sell a house. The wife is concerned and wants to know when it is o ...

When researchers set their alpha level at 05 they reject

When researchers set their alpha level at .05, they reject the null hypothesis (and conclude that the independent variable has an effect) only if there is less than a 5% chance that the differences among the means are du ...

Getting ready for a re-test for applied managerial

Getting ready for a re-test for Applied Managerial Statistics and will need some assistance. It is 24 questions and I have 3 hours once I access it. This should be an advanced question.

In a recent poll of 760 homeowners in the united states one

In a recent poll of 760 homeowners in the United States, one in five homeowners reports having a home equity loan that he or she is currently paying off. Using a confidence coefficient of 0.90, derive an interval estimat ...

Packages of sugar bags for sweeter sugar inc have an

Packages of sugar bags for Sweeter Sugar Inc. have an average weight of 10 ounces and a standard deviation of 0.2 ounces. The weights of the sugar bags are normally distributed. What is the probability that 16 randomly s ...

1 what aspects of data analysis can be performed by

1. What aspects of data analysis can be performed by computers, and what are the advantages of using them to do so? 2. Review the procedures used to verify that collected data are coded and entered correctly before they ...

1 show by example that if a and b are two matchings not

1. Show by example that if A and B are two matchings (not necessarily stable), then A ∨w B is not necessarily a matching. 2. Prove that when the partial ordering over the set of stable matchings is , the minimum of the s ...

  • 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