Answer:
The value of the expected profit from the concert is 8,910
Step-by-step explanation:
Profit on a clear day X₁ = 36,000 with 13% probability.
i.e X₁ = 36000
P(X₁) = 0.13
Profit on a cloudy day = 17,000 with 39% probability.
i.e X₂ = 17000
P(X₂) = 0.39
else,
loss of 5,000 if it rains with the probability of 48%.
i.e X₃ = 5000
P(X₃) = 0.48
The value of the expected profit from the concert is obtained as follows
Expected Value = (36,000*0.13) + (17,000*0.39) - (5,000*0.48)
= 4,680 + 6,630 - 2,400
= 8,910
Answer:
The critical value of <em>t</em> at 0.01 level of significance is 2.66.
Step-by-step explanation:
The hypothesis for the two-tailed population mean can be defined as:
<em>H₀</em>: <em>μ </em>= <em>μ₀</em> vs. <em>H₀</em>: <em>μ </em>≠ <em>μ₀</em>
It is provided that the population standard deviation is not known.
Since there is no information about the population standard deviation, we will use a <em>t</em>-test for single mean.
The test statistic is defined as follows:

The information given is:
<em>n</em> = 55
<em>α</em> =<em> </em>0.01
Compute the critical value of <em>t</em> as follows:

*Use a <em>t</em>-table for the value.
If the desired degrees of freedom are not provided consider he next highest degree of freedom.
Thus, the critical value of <em>t</em> at 0.01 level of significance is 2.66.
Answer:
y=x+3
Step-by-step explanation:
Answer:
- slope = 3/2
- y-intercept = 3
- x-intercept = -2
Step-by-step explanation:
The slope is the coefficient of x when the equation is of the form ...
y = (something).
Here, we can put the equation in that form by subtracting 12x and dividing by the coefficient of y:
12x -8y = -24 . . . . . given
-8y = -12x -24 . . . . .subtract 12x
y = 3/2x +3 . . . . . . . divide by -8
This is the "slope-intercept" form of the equation. Generically, it is written ...
y = mx + b . . . . . . where m is the slope and b is the y-intercept
So, the above equation answers two of your questions:
slope = 3/2
y-intercept = 3
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The x-intercept is found fairly easily from the original equation by setting y=0:
12x = -24
x = -24/12 = -2 . . . . . the x-intercept
_____
A graph of the equation can also show you these things. The graph shows a rise of 3 units for a run of 2, so the slope is rise/run = 3/2. The line crosses the axes at x=-2 and y=3, the intercepts.