Answer:
The answer is w=1.3
Step-by-step explanation:
-12.6w = -16.38
To find the w divide both sides by -12.6
-12.6w/-12.6 = -16.38/-12.6
w=1.3
Answer:
-22
Step-by-step explanation:
Answer:
infinity
Step-by-step explanation:
a) the expected value of this gamble in dollars is Infinity
i.e
expected value = 
= 
b)
When offered, most people say they would pay only less than $10 to play this game.
What are two reasons why people are willing to pay so much less than the expected value?
These people are ready to pay less than $10 to play this game due to the fact that people usually overlook the unlikely event when making decisions. In a bid to that logic, they gamble in order to double their amount of money and the probability that heads may never come is ignored by these people and they may hope for a likely event i.e a head every time they play the game.
Also, the expected value is so humongous that if and only if that the first head appears after a long series of tails which is very less certain to occur, because mostly people would think that on an average the length of a series of tails ( or heads) is somewhat near 10 or so, but definitely infinity.
Answer: P(22 ≤ x ≤ 29) = 0.703
Step-by-step explanation:
Since the machine's output is normally distributed, we would apply the formula for normal distribution which is expressed as
z = (x - µ)/σ
Where
x = output of the machine in ounces per cup.
µ = mean output
σ = standard deviation
From the information given,
µ = 27
σ = 3
The probability of filling a cup between 22 and 29 ounces is expressed as
P(22 ≤ x ≤ 29)
For x = 22,
z = (22 - 27)/3 = - 1.67
Looking at the normal distribution table, the probability corresponding to the z score is 0.047
For x = 29,
z = (29 - 27)/3 = 0.67
Looking at the normal distribution table, the probability corresponding to the z score is 0.75
Therefore,
P(22 ≤ x ≤ 29) = 0.75 - 0.047 = 0.703
Answer:
See below.
Step-by-step explanation:
Let's look at the cost for members (C1) first. Let x be the number of visits.
C1(x) = 12 + 8x
For non-members (C2), we can do the same.
C2(x) = 10x
You can graph these two equations.
x C1 C2
0 12 0
1 20 10
2 28 20
3 36 30
4 44 40
5 52 50
6 60 60
7 68 70
Let's make the two equations equal, to find out where the benefit is the same.
12 + 8x = 10x
2x = 12
x = 6
Up to 5 visits, the non-member cost is better. At 6 visits, there's the same price. For more than 6 visits, the member cost is better.
