HomeworkLib
Question

alue 20.00 points ree that there is a 50% chance of hiring at least two candidates T make any hires and a 18% chance that it will make all threehies a. What is the probability that the firm will make at least one hire? (Round your answer to 2 decimal places.) b. Find the expected value and the standard deviation of the number of hires (Round your final answers to 2 decimal places.) Expected value Standard deviation Type here to search
math   Statistics-And-Probability   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

Let X denote the number of hires Given that, P(X 2)=0.50, P(X=0)-0.10, P(X=3)-0.18 P(X 22) 0.50P(X2)+P(X-3)0.50 P(X-2)-0.50-0.18-0.32 P(X-1-1PX-0)+P(X-2)+PX-3)-1-(0.10+0.32+0.18)-0.4 P(x21)-1-P(x-0)-1-0.10-0.90 (ans) 0.1 0.4 0.32 0.18 0 0 0.4 0.64 0.54 1.58 0 0.4 1.28 1.62 3.3 Total Mean-E(X)=2xHx)=11.58 E(x2)-ΣΧ2P(x)= 3.3 Var(X)-E(x2)-E(X)2 = 0.8036 SD(X)-EX-E(X) -0.90

1 0
Add a comment
Know the answer?
Add Answer to:
alue 20.00 points ree that there is a 50% chance of hiring at least two candidates...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • Please give step by step. Thank you. Help Save & A worker at a landscape design...

    Please give step by step. Thank you. Help Save & A worker at a landscape design center uses a machine to fill bags with potting soil. Assume that the quantity put in each bag follows the continuous uniform distribution with low and high filling weights of 8.9 pounds and 11.4 pounds, respectively. a. Calculate the expected value and the standard deviation of this distribution. (Do not round intermediate calculations. Round your "Expected value" to 2 decimal places and "Standard deviation"...

  • A study conducted in September and October of 2010 found that fewer than half of employers...

    A study conducted in September and October of 2010 found that fewer than half of employers who hired new college graduates last academic year plan to definitely do so again (The Wall Street Journal November 29, 2010) Suppose the hiring intentions of the respondents were as follows (Use Table 3) Definitely Hire Likely to Hire 179 Hire Uncertain 2896 will not Hire 18% Six months later, a sample of 500 employers were asked their hiring intentions and gave the following...

  • You are considering two mutual funds as an investment. The possible returns for the funds are...

    You are considering two mutual funds as an investment. The possible returns for the funds are dependent on the state of the economy and are given in the accompanying table. State of the Fund Fund Economy 1 2 Good 42% 43% Fair 16% 22% Poor -18% -12% You believe that the likelihood is 13% that the economy will be good, 55% that it will be fair, and 32% that it will be poor. a. Find the expected value and the...

  • An analyst thinks that next year there is a 70% chance that the world economy will...

    An analyst thinks that next year there is a 70% chance that the world economy will be good, a 20% chance that it will be neutral, and a 10% chance that it will be poor. She also predicts probabilities that the performance of a start-up firm, Creative Ideas, will be good, neutral, or poor for each of the economic states of the world economy. The following table presents probabilities for three states of the world economy and the corresponding conditional...

  • In a certain store, there is a .02 probability that the scanned price in the bar...

    In a certain store, there is a .02 probability that the scanned price in the bar code scanner will not match the advertised price. The cashier scans 844 items. (a-1) What is the expected number of mismatches? (Round your answer to the nearest whole number.)    Expected number             (a-2) What is the standard deviation? (Use your rounded number for the expected number of mismatches for the calculation of standard deviation. Round your final answer to 4 decimal places.)...

  • In a certain store, there is a 0.05 probability that the scanned price in the bar...

    In a certain store, there is a 0.05 probability that the scanned price in the bar code scanner will not match the advertised price. The cashier scans 850 items. (a-1) What is the expected number of mismatches? (Round your answer to the nearest whole number.)   Expected number    (a-2) What is the standard deviation? (Use your rounded number for the expected number of mismatches for the calculation of standard deviation. Round your final answer to 4 decimal places.)   Standard deviation...

  • An investor owns a portfolio consisting of two mutual funds, A and B, with 50% invested...

    An investor owns a portfolio consisting of two mutual funds, A and B, with 50% invested in A. The following table lists the inputs for these funds. Measures Fund A Fund B Expected value 10    3    Variance 63 26 Covariance 28    a. Calculate the expected value for the portfolio return. (Round your answer to 2 decimal places.) b. Calculate the standard deviation for the portfolio return. (Round intermediate calculations to at least 4 decimal places. Round your...

  • Please explain how to find on the z table. And offer step by step. please and...

    Please explain how to find on the z table. And offer step by step. please and thanks ?? Beer bottles are filled so that they contain an average of 455 ml of beer in each bottle. Suppose that the amount of beer in a bottle is normally distributed with a standard deviation of 8 ml. [You may find it useful to reference the z table.] a. What is the probability that a randomly selected bottle will have less than 452...

  • You are considering two mutual funds as an investment. The possible returns for the funds are...

    You are considering two mutual funds as an investment. The possible returns for the funds are dependent on the state of the economy and are given in the accompanying table. State of the Economy Fund 1 Fund 2 Good 33 % 38 % Fair 15 % 16 % Poor −18 % −13 % You believe that the likelihood is 18% that the economy will be good, 50% that it will be fair, and 32% that it will be poor. a....

  • You are considering the risk-return profile of two mutual funds for invastment. The relatively risky fund...

    You are considering the risk-return profile of two mutual funds for invastment. The relatively risky fund promises an expected return of 11 1% with a standard deviation of 14.7%. The relatively less risky fund promises an tandard deviation of 4% and 6%, respectively Assume that the returns are approximately normally distributed a-1. Calculate the probability of earning a negative return for each fund (Round final answer to 4 decimal places.) Probability Riskier fund Less risky fund a-2. Which mutual fund...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT