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never [62]
3 years ago
11

From the set $\{1, 2, 3, \dots, 20\},$ ten numbers are chosen at random, forming a subset. Let $M$ be the largest element among

the ten numbers. Find the expected value of $M.$
Business
1 answer:
Marysya12 [62]3 years ago
6 0

The largest element can be as small as 10, which happens when the subset is {1, 2, ..., 10}.  The probability of choosing this subset is (1/2)^10 = 1/1024.  (Every element from 1 to 10 can either be in the subset, or not.)

The largest element can also be 11.  All the numbers in the subset must be from 1 to 10, and we must choose 1 to leave out, so the probability that the largest element is 11 is C(10,1)*1/1024.

The largest element can also be 12.  All the numbers in the subset must be from 1 to 11, and we must choose 2 to leave out, so the probability that the largest element is 12 is C(11,2)*1/1024.

We can do the other cases similarly:

Largest element is 13 -> C(12,3)*1/1024

Largest element is 14 -> C(13,4)*1/1024

Largest element is 15 -> C(14,5)*1/1024

Largest element is 16 -> C(15,6)*1/1024

Largest element is 17 -> C(16,7)*1/1024

Largest element is 18 -> C(17,8)*1/1024

Largest element is 19 -> C(18,9)*1/1024

Largest element is 20 -> C(19,10)*1/1024

Adding these up, we get (1 + C(10,1) + C(11,2) + ... + C(19,10))*1/1024.  Since 1 = C(9,0), we also get (C(9,0) + C(10,1) + C(11,2) + ... + C(19,10))*1/1024.

By the Hockey Stick Identity, C(9,0) + C(10,1) + C(11,2) + ... + C(19,10) = C(20,10), so the expected value of the largest element is 1/11*C(20,10)*1/1024 = 4199/256.

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5 0
3 years ago
When a firm uses K units of capital and L units of labor, it can produce Q units of output with the production function Q = K√L.
DanielleElmas [232]

Answer:

STC = 20K + 25L = 20*5 + 25*[\frac{Q^2}{25}] = 100 + Q^2

Explanation:

We are given:

K units of capital and L units of labor.

•Each unit of capital cost = 20

• Each unit of labor cost =25

• Level K is fixed at 5 units

We are told production function Q = K√L

Using the production functions and the values given, we can get that Q=5√L.

To find Q, the amount of labor will be given as:

L = \frac{Q^2}{25}

Therefore, the Short run total cost function (STC) will be:

20K + 25L = 20*5 + 25[\frac{Q^2}{25}] = 100 + Q^2

7 0
3 years ago
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schepotkina [342]

Answer:

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3 0
3 years ago
Baxter Co. wants to issue new 18-year bonds for some much-needed expansion projects. The company currently has 6 percent coupon
lesya [120]

Answer:

5.52%

Explanation:

The coupon rate is given below:

Given that

Future value = $1,000

Present value = $1,055

NPEr = 18 × 2 = 36

PMT = $1,000 × 6% ÷ 2 = $30

The formula is shown below:

=RATE(NPER;PMT;-PV;FV;TYPE)

The present value comes in negative

After applying the above formula, the rate is

= 2.76% × 2

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7 0
3 years ago
Given the following data, calculate the total product cost per unit under absorption costing. Direct labor $ 3.50 per unit Direc
Degger [83]

Answer:

The total product cost per unit under absorption costing is $15.38 per unit

Explanation:

Absorption costing : Under absorption costing, all costs which is assigned in the production is recorded in this costing method. It includes direct labor cost, direct material cost, variable overhead cost, fixed overhead cost, etc.

The computation of total product cost per unit is shown below:

= Direct material per unit + direct labor per unit + variable overhead per unit + fixed overhead per unit

where,

Direct material and direct labor per unit is given but variable overhead per unit and fixed overhead per unit is not given so first we have to calculate these two cost per unit. The calculation is shown below:

Variable overhead per unit = Total variable overhead cost ÷ expected units to be produced

= $41,400 ÷ 18,000

= $2.3 per unit

Now for Fixed overhead per unit = Total fixed overhead cost ÷ expected units to be produced

=  $150,000 ÷ 18,000

=$8.33 per unit

So, total product cost per unit  = Direct material per unit + direct labor per unit + variable overhead per unit + fixed overhead per unit

= $1.25 + $3.5 + $2.3 + $8.33

= $15.38 per unit

Hence, the total product cost per unit under absorption costing is $15.38 per unit

5 0
3 years ago
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