11 items are filed under this topic.
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Expected value |
2012-08-25 |
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From melanie:
The probabilities are 0.24 , 0.35 , 0.29 , and 0.12 that a speculator will be able to sell a subdivision lot within a year at a profit of P120, 500 , at a profit of P80,000 , at a profit of P40,000 , or at a lost of P60,000 respectively . What is his expected profit ?
Answered by Penny Nom. |
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Expected value |
2012-02-24 |
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From Lara:
A life insurance company sells a $250,000 1-year term life insurance policy to a 20-year-old male for $350. According to the National Vital Statistics Report the probability that the male survives the year is 0.998734. Compute and interpret the expected value of this policy to the insurance company.
I'm very confused on how to do this. I assume x is the profit the insurance company makes in the year of $350 but beyond that I don't know what to do. Thanks.
Answered by Penny Nom. |
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Expected value |
2009-04-11 |
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From jp:
you pay $.50 and pick a four-digit number. The state chooses a four-digit number at random and pays you $2500.00 if your number i chosen. What are the expected winnings from a $.50 Pick 4 wager?
Answered by Stephen La Rocque and Harley Weston. |
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Expected value and standard deviation |
2008-03-19 |
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From Patrick:
Heres a question i cant figure out:
a small airline company has only three flights per day. The number of
delayed flights per day is regarded as a random variable, and I'm
supposed to calculate the expected
value and standard deviation of the number of delays.
the probability distribution looks like:
No. of Delays: 0 1 2 3
Prob. of delay: 05. 0.3 .1 .1
Answered by Harley Weston. |
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A statistics example |
2007-08-02 |
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From Claudia:
A particular employee arrives to work some time between 8:00 am - 8:30 am. Based on past experience the Company has determined that the employee is equally likely to arrive at any time between 8:00 am - 8:30 am.
On average, what time does the employee arrive?
What is the standard deviation of the time at which the employee arrives?
Find the probability that the employee arrives exactly at 8:12 am?
Find the probability that the employee arrives between 8:20 am - 8:25 am?
Answered by Har. |
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Expected value |
2007-03-30 |
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From Katrina:
A term life insurance policy will pay a beneficiary a certain sum of money upon the
death of the policy holder. These policies have premiums that must be paid annually. Suppose a
life insurance company sells a $250,000 one-year term life insurance policy to a 20-year-old male
for $350. According to the National Vital Statistics Report, Vol. 47, No. 28, the probability the
male will survive the year is 0.99865. Compute the expected value of this policy to the insurance
company. Does the company expect to make money at this rate?
Answered by Penny Nom. |
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What is the expected number of ripe and ready to eat watermelons |
2006-11-29 |
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From James:
An agricultural cooperative claims 95 percent of the watermelons shipped out are ripe and ready to eat. If 20 watermelons are shipped out , what is the probability that the number of watermelon that are ripe and ready to is (i) exactly 14 (ii) more than 18 (iii) of the 20 watermelons that are shipped what is the expected number of ripe and ready to eat watermelons
Answered by Penny Nom. |
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E(X + Y) and V(X + Y) |
2003-07-10 |
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From Reuben:
I'm a teacher trying to find a way to make some stats work from first principles. The topic is expectation algebra and it is for the top age level in high school. By using a set of data I can show how the mean is the same as the expected value ie 2,2,3,4,4 is 15 / 5 = 3 also, 2x0.4+3x0.2+4x0.4=3. I can also show this to work for the variance in the same style but using Sum(x-mean)2/n and the Var(X) version of squaring x then multiplying by the probability ( all this for random independant samples). Now comes the tricky bit.....when I try to show E(X+Y) = E(X) + E(Y) from setting up two data sets I get it to work only if I add each item from X to each item from Y. However, I can't get it to work for V(X+Y)=V(X) + V(Y) from two sets of data. There must be something missing in my knowledge of how the sets are required to add together or my knowledge of expectation algebra. I am familiar with proofs but still want to show my students that the basic formulae work from groups of data whether done the long way or by use of formulae. Can you help please?
Answered by Penny Nom. |
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Expected value |
2001-04-24 |
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From Cindy:
A game consists of rolling a single fair die. If a number great than 4 is rolled you win the number of dollars showing on the die. If any other number is rolled, you receive $1.00. What is the expected value of this game?
Answered by Andrei Volodin. |
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Expected number |
2000-11-02 |
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From James:
1)There are 40,25,50 students in the traditional,reformed,and reformed traditional Calculas sections taught by three teachers. On one fine day the three sections congregate together to watch the NOVA video tape on Fermat's Last Theorem. a) A student is randomly selected from he crowed of students.What is the expected number of students in the same section of this student? ****this question which i did not have any idea to do as follow for the part b
b) If one of the three teachers is selected at random, what is the expected number of students taught by is teacher?
Answered by Harley Weston. |
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An expected value |
2000-04-24 |
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From Carl Pride:
Suppose that in a statistics class of size 23, each student has a probability of passing of 73 percent. sample: What is the expected number of students who will pass??
Answered by Harley Weston. |
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