Answer:
(a) The expected number of guests until the next one pays by American Express credit card is 4.
(b) The probability that the first guest to use an American Express is within the first 10 to checkout is 0.0215.
Step-by-step explanation:
The random variable <em>X</em> can be defined as the number of guests until the next one pays by American Express credit card
The probability that a guest paying by American Express credit card is, <em>p</em> = 0.20.
The random variable <em>X</em> follows a Geometric distribution since it is defined as the number of trials before the first success.
The probability mass function of <em>X</em> is:
(a)
The expected value of a Geometric distribution is:
Compute the expected number of guests until the next one pays by American Express credit card as follows:
Thus, the expected number of guests until the next one pays by American Express credit card is 4.
(b)
Compute the probability that the first guest to use an American Express is within the first 10 to checkout as follows:
Thus, the probability that the first guest to use an American Express is within the first 10 to checkout is 0.0215.
Sq root (54) =
sq root (9*5) =
3 * sq root (5)
Answer:
Avicenna can expect to lose money from offering these policies. In the long run, they should expect to lose ___33__ dollars on each policy sold
Step-by-step explanation:
Given :
The amount the company Avicenna must pay to the shareholder if the person die before 70 years = $ 26,500
The value of each policy = $497
It is given that there is a 2% chance that people will die before 70 years and 98% chance that people will live till the age 70.
The expected policy to be sold= policy nominal + chances of death
= 497 + [98% (no pay) + 2% (pay)]
= 497 + [98%(0) + 2%(-26500)]
(The negative sign shows that money goes out of the company)
= 497 - 2% (26500)
= 497 - 530
=33
Therefore the company loses 33 dollar on each policy sold in the long run.
First you need to use the distributive property: 27(x+4)=-6
27x+108=-6
then you need to subtract 108 from -6 to
get x alone. 27x= 102
Lastly divide 102 by 27 to finally get x alone: x=3.777
the answer would be: x= 3.77 or 3.8