Use the probability model above to determine the successful outcome’s contribution to the expected value of the return.
1 answer:
Answer: Hence, Option 'D' is correct.
Step-by-step explanation:
Since we have given that
Probability of successful outcome = 0.7
Probability of unsuccessful outcome = 0.3
Amount he get for successful outcome = $900
Amount he lost for unsuccessful outcome = -$1800
We need to find the expected value of return when there is successful outcome:
P(Success)× Amount for successful
Hence, Option 'D' is correct.
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Answer: $85,000
Step-by-step explanation:
Given : In a given population of two-earner male-female couples, male earnings have a mean of $40,000 per year and a standard deviation of $12,000.
Female earnings have a mean of $45,000 per year and a standard deviation of $18,000.
If C denote the combined earnings for a randomly selected couple.
Then, the mean of C will be :-
Hence, the mean of C = $85,000