As a birthday gift, you are mailing a new personal digital assistant (PDA) to your cousin in Toledo. The PDA cost $414. There is a 3 percent chance it will be lost or damaged in the mail. Is it worth $4 to insure the mailing?Explain, using the concept of expected value.

Answers

Answer 1

Answer:

It is worth $4 to insure the mailing.

Step-by-step explanation:

The random variable X can be defined as the money value.

The PDA costs, $414.

It is provided that there is a 3% chance it will be lost or damaged in the mail.

So, there is 97% chance it will not be lost or damaged in the mail.

The insurance costs $4.

If the PDA is lost or damaged in the mail when there is no insurance the money value would be of -$414.

And if the PDA is lost or damaged in the mail when there is an insurance the money value would be of $414 - $4 = $410.

Compute the expected value of money as follows:

[tex]\text{E (X)}=(0.97\times 410)+(0.03\times -414)[/tex]

          [tex]=397.7-12.42\\=385.28[/tex]

The expected value of money in case the PDA is lost or damaged in the mail or not is $385.28.

Thus, it is worth $4 to insure the mailing.


Related Questions

Suppose we are interested in bidding on a piece of land and we know one other bidder is interested. The seller announced that the highest bid in excess of $10,400 will be accepted. Assume that the competitor's bid x is a random variable that is uniformly distributed between $10,400 and $15,400.

Required:
a. Suppose you bid $12,000. What is the probability that your bid will be accepted (to 2 decimals)?
b. Suppose you bid $14,000. What is the probability that your bid will be accepted (to 2 decimals)?
c. What amount should you bid to maximize the probability that you get the property (in dollars)?

Answers

Answer:

a) 0.32 = 32% probability that your bid will be accepted

b) 0.72 = 72% probability that your bid will be accepted

c) An amount in excess of $15,400.

Step-by-step explanation:

An uniform probability is a case of probability in which each outcome is equally as likely.

For this situation, we have a lower limit of the distribution that we call a and an upper limit that we call b.

The probability that we find a value X lower than x is given by the following formula.

[tex]P(X \leq x) = \frac{x - a}{b-a}[/tex]

Assume that the competitor's bid x is a random variable that is uniformly distributed between $10,400 and $15,400.

This means that [tex]a = 10400, b = 15400[/tex]

a. Suppose you bid $12,000. What is the probability that your bid will be accepted (to 2 decimals)?

You will win if the competitor bids less than 12000. So

[tex]P(X \leq 12000) = \frac{12000 - 10400}{15400 - 10400} = 0.32[/tex]

0.32 = 32% probability that your bid will be accepted

b. Suppose you bid $14,000. What is the probability that your bid will be accepted?

You will win if the competitor bids less than 14000. So

[tex]P(X \leq 14000) = \frac{14000 - 10400}{15400 - 10400} = 0.72[/tex]

0.72 = 72% probability that your bid will be accepted

c. What amount should you bid to maximize the probability that you get the property (in dollars)?

His bid is uniformly distributed between $10,400 and $15,400.

So, to maximize the probability that you get the property, you should bid an amount in excess of $15,400.

jack is investing 5000 in an account that earns 4% interest compounded annually. Determine to the nearest month when the investment will be worth 8000

Answers

Answer:

The nearest time is 15 years or 180 months

Simplify -2(-5) - 7 + 1(-3)

Answers

Answer:

Step-by-step explanation:

BRUH YOU STUPID

Answer:

0

[tex] \\ solution \\ - 2( -5) - 7 + 1( - 3) \\ = 10 - 7 + ( - 3) \\ = 10 - 7 - 3 \\ = 3 - 3 \\ = 0 \\ hop \: it \: helps...[/tex]

Determine how many lines of sysmmetry each object had. Then determine whether each object has 180 degree rotational symmetry

Answers

Answer:

5, yes.

Step-by-step explanation :

John works 21 hours a week and earns $157.50. How much does john earn per hour?

Answers

Answer:

D. $7.50

Step-by-step explanation:

$157.50 / 21 hours = $7.50 per hour

Please answer this correctly

Answers

Answer:

d = 2

Step-by-step explanation:

Using the formula

A=pq/2

Dont forget to click THANKS

The method of Problem 20 can be extended to second order equations with variable coefficients. If y1 is a known nonvanishing solution of y′′ + p(t)y′ + q(t)y = 0, show that a second solution y2 satisfies (y2 /y1 )′ = W (y1 , y2 )/y21 , where W (y1 , y2 ) is the Wronskian of y1 and y2 . Then use Abel’s formula [Eq. (23) of Section 3.2] to determine y2 .

Answers

Answer:24y

Step-by-step explanation:

I need help please help me

Answers

Answer:

4

Step-by-step explanation:

10-2(1)=8 which is >=4

10-2(2)=6 which is >=4

10-2(3)=4 which is >=4

10-2(4)=2 which isn't >=4

Therefore 4 doesn't satisfy the inequality

Answer:

4

Step-by-step explanation:

Let's test each possibility.

10-2(1)≥4

10-2=8 so it works

10-2(2)≥4

10-4=6 so it works

10-2(3)≥4

10-6=4 so it works

10-2(4)≥4

10-8=2

2<4 so it dosen't fit the solution

We wish to see if the dial indicating the oven temperature for a certain model of oven is properly calibrated. Four ovens of this model are selected at random. The dial on each is set to 300 °F, and, after one hour, the actual temperature of each is measured. The temperatures measured are 305 °F, 310 °F, 300 °F, and 305 °F. Assuming that the actual temperatures for this model when the dial is set for 300° are Normally distributed with mean μ, we test whether the dial is properly calibrated at 5% of significance level.

Actual Temp: 305, 310, 300, 305

Required:
a. Based on the data, calculate the sample standard deviation and standard error of X bar (round them into two decimal places) Standard Deviation: Standard Error:
b. What is a 95% confidence interval for μ? (upper and lower bound)
c. Provide your test statistic and P-value
d. State your conclusion clearly (statistical conclusion and its interpretation).
e. Even if 5% of significance level looks like default of test, we can use different significance levels as well. If we change the significance level into 10% (= 0.1), how does it affect your conclusion?

Answers

Answer:

a. Standard deviation: 4.082

Standard error: 2.041

b. The 95% confidence interval for the actual temperature is (298.5, 311.5).

Upper bound: 311.5

Lower bound: 298.5

c. Test statistic t=2.45

P-value = 0.092

d. There is no enough evidence to claim that the dial of the oven is not properly calibrated. The actual temperature does not significantly differ from 300 °F.

e. If we use a significance level of 10% (a less rigorous test, in which the null hypothesis is rejected with with less requirements), the conclusion changes and now there is enough evidence to claim that the dial is not properly calibrated.

This happens because now the P-value (0.092) is smaller than the significance level (0.10), given statististical evidence for the claim.

Step-by-step explanation:

The mean and standard deviation of the sample are:

[tex]M=\dfrac{1}{4}\sum_{i=1}^{4}(305+310+300+305)\\\\\\ M=\dfrac{1220}{4}=305[/tex]

[tex]s=\sqrt{\dfrac{1}{(n-1)}\sum_{i=1}^{4}(x_i-M)^2}\\\\\\s=\sqrt{\dfrac{1}{3}\cdot [(305-(305))^2+(310-(305))^2+(300-(305))^2+(305-(305))^2]}\\\\\\ s=\sqrt{\dfrac{1}{3}\cdot [(0)+(25)+(25)+(0)]}\\\\\\ s=\sqrt{\dfrac{50}{3}}=\sqrt{16.667}\\\\\\s=4.082[/tex]

We have to calculate a 95% confidence interval for the mean.

The population standard deviation is not known, so we have to estimate it from the sample standard deviation and use a t-students distribution to calculate the critical value.

The sample mean is M=305.

The sample size is N=4.

When σ is not known, s divided by the square root of N is used as an estimate of σM (standard error):

[tex]s_M=\dfrac{s}{\sqrt{N}}=\dfrac{4.082}{\sqrt{4}}=\dfrac{4.082}{2}=2.041[/tex]

The degrees of freedom for this sample size are:

[tex]df=n-1=4-1=3[/tex]

The t-value for a 95% confidence interval and 3 degrees of freedom is t=3.18.

The margin of error (MOE) can be calculated as:

[tex]MOE=t\cdot s_M=3.18 \cdot 2.041=6.5[/tex]

Then, the lower and upper bounds of the confidence interval are:

[tex]LL=M-t \cdot s_M = 305-6.5=298.5\\\\UL=M+t \cdot s_M = 305+6.5=311.5[/tex]

The 95% confidence interval for the actual temperature is (298.5, 311.5).

This is a hypothesis test for the population mean.

The claim is that the actual temperature of the oven when the dial is at 300 °F does not significantly differ from 300 °F.

Then, the null and alternative hypothesis are:

[tex]H_0: \mu=300\\\\H_a:\mu\neq 300[/tex]

The significance level is 0.05.

The sample has a size n=4.

The sample mean is M=305.

As the standard deviation of the population is not known, we estimate it with the sample standard deviation, that has a value of s=4.028.

The estimated standard error of the mean is computed using the formula:

[tex]s_M=\dfrac{s}{\sqrt{n}}=\dfrac{4.082}{\sqrt{4}}=2.041[/tex]

Then, we can calculate the t-statistic as:

[tex]t=\dfrac{M-\mu}{s/\sqrt{n}}=\dfrac{305-300}{2.041}=\dfrac{5}{2.041}=2.45[/tex]

The degrees of freedom for this sample size are:

[tex]df=n-1=4-1=3[/tex]

This test is a two-tailed test, with 3 degrees of freedom and t=2.45, so the P-value for this test is calculated as (using a t-table):

[tex]\text{P-value}=2\cdot P(t>2.45)=0.092[/tex]

As the P-value (0.092) is bigger than the significance level (0.05), the effect is not significant.

The null hypothesis failed to be rejected.

There is not enough evidence to support the claim that the actual temperature of the oven when the dial is at 300 °F does not significantly differ from 300 °F.

If the significance level is 10%, the P-value (0.092) is smaller than the significance level (0.1) and the effect is significant.

The null hypothesis is rejected.

There is enough evidence to support the claim that the actual temperature of the oven when the dial is at 300 °C does not significantly differ from 300 °C.

A random sample of 100 observations from a population with standard deviation 6868 yielded a sample mean of 113113. Complete parts a through c below. a. Test the null hypothesis that muμequals=100 against the alternative hypothesis that muμgreater than>​100, using alphaαequals=0.05. Interpret the results of the test. What is the value of the test​ statistic?

Answers

Answer:

Null hypothesis is rejected,

test statistic= 15.76

Step-by-step explanation:

sample mean= 113,

sample standard deviation= 68

H0: mean of sample =100

Ha: mean of sample > 100

test statistic= (population mean- sample mean)/√(standard deviation/sample size)

test statistic= (113-100)/√(68/100)= 15.76

Degrees of freeedom= 100-1=99

p-value= 1.658 (from t distribution table for DF=99 and alpha=0.05)

Since p-value is smaller than test statistic, null hypothesis is rejected

What’s the correct answer for this?

Answers

Answer:

C.

Step-by-step explanation:

Base area = 9 × 13

= 117 square feet

Now

Volume of pyramid = (1/3)(A)(H)

= (1/3)(117)(30)

= 117 × 10

= 1170 cubic feet

The office needs 8 new devices worth $8000. The order consists of new computers (C ) which cost $925 each and printers (P) which cost $1125 each. How many of the new devices are computers and how many are printers?

Answers

Answer:

The number of computer is 5 and printer is 3

Plz help me ASAP it’s important

Answers

Answer:

D. 6.3

Step-by-step explanation:

Well you can make a triangle with the line PQ with it's height as 2 and base as 6.

Then you can use the Pythagorean Theorem to find the length of PQ.

a²+b²=c²

2²+6²=c²

4+36=c²

40=c²

c²=40

Square root both sides

c=[tex]\sqrt{40}[/tex]

c≈6.3

Our answer is D. 6.3

Simplify the expression,
(a3/2)3

Answers

Answer:

[tex]a^{\frac{9}{2}}[/tex]

Step-by-step explanation:

[tex]\left(a^{\frac{3}{2}}\right)^3[/tex]

[tex]=a^{\frac{3}{2}\cdot \:3}[/tex]

[tex]=a^{\frac{3}{2}\cdot \frac{3}{1}}[/tex]

[tex]=a^{\frac{9}{2}}[/tex]

The answer should be a to the power 9/2

What’s the correct answer for this question?

Answers

Answer:

Arc EF = 11.30

Step-by-step explanation:

For Circle A

S = r∅

18.08=(8)∅

Where ∅ is the angle subtended by the Arc

So

∅ = 18.08/8

∅ = 2.26 (in radians)

Now

For Circle C

S = r∅

S = (5)(2.26)

S = 11.30

Please answer this correctly

Answers

Answer:

Step-by-step explanation:

Area = area of rectangle 1 + area of rectangle 2 + area of rectangle 3 +area of triangle

= 8*12 +  12*9 + 19 *5 +  (1/2) * 4 *12

= 96 + 108 + 95 + 24

= 323 sq. cm

~323cm^2

~ ( 8 x 12) + (12 x 9) + (19 x 5) + (1/2) x 4 x 12
= 323 cm^2

Jack uses triangles in the construction of bridges, such as the one shown below. A triangle has angles G, 72 degrees, and blank. The exterior angle to the blank angle is 133 degrees. What is the measure of Angle?

Answers

Answer: The answer is 61

Step-by-step explanation: did it on 2020 edg pls mark me brainliest

Answer:

61

Step-by-step explanation:

What is a word problem for 15-28?

Answers

Answer:

valarie had 28 pencils , she gave 15 pencils away to people. How many pencils will she have left?

Step-by-step explanation:

hope this helps:)

Which statement describes the graph of the system of equations?

Answers

Answer:

Are there any choices?..

The correct statement the describes the equation is The lines intersect at (1, 0) and the lines are parallel.

x - y = 1.............equation 1

y - x = 1.............equation 2

Add equations (1) and (2):

(x - y) + (y - x) = 1 + 1

Simplifying

0 = 2

Since 0 = 2, the system is inconsistent, meaning there is no solution. The lines represented by the equations are parallel and will never intersect.

The system of equations has no solution, as the lines represented by the equations are parallel and will never intersect.

learn more about parallel here

brainly.com/question/17405097

#SPJ2

The complete question is- Which statement describes the graph of the system of equations?

[x-y=1

Ly- X= 1

The lines are parallel.

The lines are coinciding.

The lines intersect at(1, 0).

The lines intersect at (-1,0).

The combined SAT scores for the students at a local high school are normally distributed with a mean of 1527 and a standard deviation of 291. The local college includes a minimum score of 1207 in its admission requirements. What percentage of students from this school earn scores that satisfy the admission requirement? P(X > 1207) =

Answers

Answer:

Step-by-step explanation:

Let x be the random variable representing the SAT scores for the students at a local high school. Since it is normally distributed and the population mean and population standard deviation are known, we would apply the formula,

z = (x - µ)/σ

Where

x = sample mean

µ = population mean

σ = standard deviation

From the information given,

µ = 1527

σ = 291

the probability to be determined is expressed as P(x > 1207)

P(x > 1207) = 1 - P(x ≤ 1207)

For x < 1208

z = (1207 - 1527)/291 = - 1.1

Looking at the normal distribution table, the probability corresponding to the z score is 0.16

P(x > 1207) = 1 - 0.16 = 0.84

Therefore, the percentage of students from this school earn scores that satisfy the admission requirement is

0.84 × 100 = 84%

Jose purchased 4/9 pound of peanut and 7/11 pounds of raisins find the total weight of his purchase

Answers

Answer:

The total weight of his purchase is 1.08 pounds

Step-by-step explanation:

To find the total weight of his purchase, we sum the weight of each of his purchases.

He purchased:

4/9 pound of peanut.

7/11 pounds of raisins

Total:

The least common multiple between 9 and 11 is 99.

Then

[tex]\frac{4}{9} + \frac{7}{11} = \frac{11*4 + 9*7}{99} = \frac{107}{99} = 1.08[/tex]

The total weight of his purchase is 1.08 pounds

What is the solution to y + 8.5 = 17.2?

Answers

Answer:

y+8.5 = 17.2

y = 17.2-8.5

= 8.7

Answer:

y+8.5 = 17.2

y = 17.2-8.5

= 8.7

Step-by-step explanation:

yes the answer above me is correct

you need 418 yards of blue silk to make one bridesmaid’s dress and 358 yards of the same fabric to make another. How many yards of blue silk do you need to make both dresses?

Answers

Answer: you would need 776 yards to make both dresses

Step-by-step explanation:

You would need to find the sum of the amount if yards needed for both dresses.

The first dress needs 418 yards

The seconds dress needs 358 yards

418 + 358 = 776

Therefore you would need 776 yards to be able to make both of the dresses

what is the value sin(?)= cos 28

Answers

Answer: 62

Step-by-step explanation:

Using the fact that cos(90-x)=sin(x) we get that 90-x=28, so x=62 and the answer is simply 62.

Hope that helped,

-sirswagger21

The sum of two consecutive even integers is at most 400. The pair of integers with the greatest sum is 196 and 198. True or Flase

Answers

Answer:

False

Step-by-step explanation:

The greatest sum of two consecutive even integers would be 200 + 198, or 398

Answer:

its true

Step-by-step explanation:

Find f. f ''(θ) = sin(θ) + cos(θ), f(0) = 2, f '(0) = 1 f(θ) =

Answers

Answer:

[tex]f(theta)=sin(theta) - cos(theta)[/tex] + C

This is my first time doing a double integral, so im only 90% sure in my answer

Step-by-step explanation:

You pretty much want to take the double integral of sinx + cosx

The anti-derivative of sinx = -cosx

The anti-derivative of cosx = sinx

So f' = -cosx + sinx

Now lets take the integral of f':

The anti-derivative of -cosx = sinx

The anti-derivative of sinx = -cosx

So, f(x) = sinx - cosx

Answer:    f(θ) = -sin(θ) - cos(θ) + 2θ + 3

============================================================

Work Shown:

I'll use x in place of theta since its easier to type on a keyboard.

f '' (x) = sin(x) + cos(x)

f ' (x) = -cos(x) + sin(x) + C ..... integrate both sides; dont forget the plus C

f ' (0) = 1

f ' (0) = -cos(0) + sin(0) + C

-cos(0) + sin(0) + C = 1

-1 + 0 + C = 1

C = 1+1

C = 2

So,

f ' (x) = -cos(x) + sin(x) + C

turns into

f ' (x) = -cos(x) + sin(x) + 2

----------------------------

Now integrate both sides of the first derivative to get the original f(x) function

f ' (x) = -cos(x) + sin(x) + 2

f(x) = -sin(x) - cos(x) + 2x + D .... apply integral; D is some constant

f(0) = -sin(0) - cos(0) + 2(0) + D

f(0) = 0 - 1 + 0 + D

f(0) = D - 1

f(0) = 2

D-1 = 2

D = 2+1

D = 3

We have f(x) = -sin(x) - cos(x) + 2x + D update to f(x) = -sin(x) - cos(x) + 2x + 3

----------------------------

So f '' (x) = sin(x) + cos(x) becomes f(x) = -sin(x) - cos(x) + 2x + 3 when f(0) = 2 and f ' (0) = 1

The last step is to replace every x with theta so that we get back to the original variable.

f(x) = -sin(x) - cos(x) + 2x + 3   turns into   f(θ) = -sin(θ) - cos(θ) + 2θ + 3

PLEASE HELP MEEEEEE!!!!!

Answers

Answer:

Read below

Step-by-step explanation:

To graph the inequality, place an open circle on -2.5 because there is no line under the > sign. Draw the arrow pointing to the right because the inequality reads "x is greater than -2.5.

As for the check box questions, only B and C should be checked. The arrow points right, and the circle is open.

Charlotte is creating a triangular pennant with geometry software.

The base measure of the pennant on screen is 550 pixels. The height

is 275 pixels. Charlotte resizes the pennant, keeping the aspect ratio

constant, so the height is 165 pixels. What is the scale factor of the

dilation? What is the base of the pennant?


~~~~~~~~~~~~~~


pls help T-T

Answers

Answer:

Base of the Pennant = 330 pixels

Scale Factor =0.6

Step-by-step explanation:

The base measure of the pennant on screen is 550 pixels.

The height  is 275 pixels.

[tex]A$spect Ratio=\dfrac{Base}{Height}=\dfrac{550}{275} =2:1[/tex]

If Charlotte resizes the pennant, keeping the aspect ratio  constant.

Height = 165 pixels

Therefore:

[tex]\dfrac{Base}{165}=\dfrac{2}{1} \\\\$Base= 2 *165 =330[/tex]

Therefore, the scale factor of the dilation  [tex]=\dfrac{330}{550}= \dfrac{165}{275}=0.6[/tex]

Base of the Pennant = 330 pixels

Scale Factor =0.6

To inspect manufacturing processes, companies typically examine samples of parts for deficiencies. One company that manufactures ballpoint pens selected samples of pens on each of days. The company recorded, for each sample of , the number of defective pens in the sample. Here are their data:

1, 1, 2, 2, 2, 2, 3, 5, 5, 6, 6, 6, 9, 11, 14, 15, 18

Required:
a. Which measures of central tendency do not exist for this data set?
b. Which measures of central tendency would be affected by the change?
c. Which of the following best describes the distribution of the original data?
d. Suppose that, starting with the original data set, the largest measurement were removed. Which measures of central tendency would be changed from those of the original data set?

Answers

Answer:

a. All measures exist

b. The Mean and the mode

c. Positively skewed

d. The mean and the median

Step-by-step explanation:

a. The frequencies of the data are;

1       2

2      4

3       1

5       2

6       3

9        1

11        1

14        1

15       1

18       1

The formula for mode is given as follows;

The mean = 108/17 = 6.35

The median of 1 1 2 2 2 2 3 5 5 6 6 6 9 11 14 15 18 = (n + 1)/2th term = 9th term  

∴ The median = 5

The mode = 3×Median - 2 × Mean = 15 - 2 × 6.35 = 2.29

Hence all exist

The answer is none theses measures

b. Whereby 18 is replaced by 39 the mean will be then be

(108 + 39 - 18)/17 = 7.59

The median, which is the 9th term remain the same;

Hence only the mean and mode will be affected

c. Since more values are concentrated on the left side of the data distribution, the distribution is positively skewed

d. The largest measurement = 18 the 17th term

Removal will give

Mean = (108 - 18)/16 = 5.625 Mean changes

Median = (16 + 1)/2 th term = 8.5th term = 5 The median remains the same

The mode = 3(Mean - Median) changes

Therefore, the mean and the median will be changed.

Consider a value to be significantly low if its z score less than or equal to minus2 or consider a value to be significantly high if its z score is greater than or equal to 2. A data set lists weights​ (grams) of a type of coin. Those weights have a mean of 5.45961 g and a standard deviation of 0.05215 g. Identify the weights that are significantly low or significantly high. What weights are significantly​ low? Select the correct answer below and fill in the answer​ box(es) to complete your choice.

Answers

Answer:

lowest score is 5.35531

highest score is x=5.45961

Step by step Explanation:

· A Z-score reffered to as a numerical measurement that identifies a value's relationship to the mean of a group of values. Z-score is usually measured in terms of standard deviations from the mean.

We were to Consider a value to be significantly low if its z score less than or equal to minus2 or consider a value to be significantly high if its z score is greater than or equal to 2

the z-score is given by:

z-score=(x-μ)/σ

where:

x=score

μ=mean=5.45961

σ=std deviation=0.05215

To calculate the lowest cost when the the z-score is -2, we have

[tex]-2=(x-5.45961)/0.05215[/tex]

To get the value of x then we collect like terms

-0.1043 = =(x-5.45961)

x=-0.1043 + 5.45961

[tex]X=5.35531[/tex]

therefore, the lowest score is 5.35531

Let us calculate the highest score when the z-score is 2 ,

then highest score will be:

[tex]2=(x-5.45961)/0.05215[/tex]

To get the value of x then we collect like terms

0.1043 = =(x-5.45961)

x=0.1043 + 5.45961

[tex]X=5.45961[/tex]

therefore the highest score is x=5.45961

Other Questions
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