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nikklg [1K]
3 years ago
5

a person pays $25 to randomly select one of 5 envelopes containing a different check amount. determine the expected value if the

check amounts are $0, $20, $30, $35, and $75
Mathematics
1 answer:
maxonik [38]3 years ago
3 0

Answer:

Expected value = $32

Step-by-step explanation:

Given:

Check amount = $0, $20, $30, $35, $75

Find:

Expected value

Computation:

Expected value = [$0 + $20 + $30 + $35 + $75] / 5

Expected value = [$160] / 5

Expected value = $32

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Suppose that one person in 10,000 people has a rare genetic disease. There is an excellent test for the disease; 98.8% of the pe
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Answer:

A)The probability that someone who tests positive has the disease is 0.9995

B)The probability that someone who tests negative does not have the disease is 0.99999

Step-by-step explanation:

Let D be the event that a person has a disease

Let D^c be the event that a person don't have a disease

Let A be the event that a person is tested positive for that disease.

P(D|A) = Probability that someone has a disease given that he tests positive.

We are given that There is an excellent test for the disease; 98.8% of the people with the disease test positive

So, P(A|D)=probability that a person is tested positive given he has a disease = 0.988

We are also given that  one person in 10,000 people has a rare genetic disease.

So,P(D)=\frac{1}{10000}

Only 0.4% of the people who don't have it test positive.

P(A|D^c) = probability that a person is tested positive given he don't have a disease = 0.004

P(D^c)=1-\frac{1}{10000}

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P(D|A)=\frac{0.988 \times \frac{1}{10000}}{0.988 \times (1-\frac{1}{10000}))+0.004 \times (1-\frac{1}{10000})}

P(D|A)=\frac{2470}{2471}=0.9995

P(D|A)=0.9995

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(B)

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P(D^c|A^c)=\frac{0.996 \times (1-\frac{1}{10000})}{0.996 \times (1-\frac{1}{10000})+0.012 \times \frac{1}{1000}}

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Answer:

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