# Finite math (20 questions) | Mathematics homework help

### The management of the Cambridge Company has projected the sales of its products (in millions of dollars) for the upcoming year, with the associated probabilities shown in the following table:

SalesProbability
What does the management expect the sales to be next year?

1 points

1 points

1 points

### Based on past experience, the manager of the VideoRama Store has compiled the following table, which gives the probabilities that a customer who enters the VideoRama Store will buy 0, 1, 2, 3, or 4 videocassettes. How many videocassettes can a customer entering this store be expected to buy?

Video- cassettes01234Probability0.420.370.130.040.04

1 points

x012345P(X = x)

1 points

1 points

### During the first year at a university that uses a 4-point grading system, a freshman took ten 3-credit courses and received one A, three Bs, two Cs, and four Ds.

Compute this student’s grade point average.

Let the random variable X denote the number of points corresponding to a given letter grade. Find the probability distribution of the random variable X and compute E( X), the expected value of X.

1 points

1 points

1 points

### A buyer for Discount Fashions, an outlet for women’s apparel, is considering buying a batch of clothing for \$61,000. She estimates that the company will be able to sell it for \$80,000, \$75,000, or \$70,000 with probabilities of 0.20, 0.40, and 0.40, respectively.

Based on these estimates, what will be the company’s expected gross profit?

TWO

### The probability distribution of a random variable X is

x–2–1012P ( X = x )
Compute the mean, variance, and standard deviation of X.

1 points

1 points

### Find the variance of the probability distribution for the histogram:

a.Var ( X) = 4.2625

1 points

### The birthrates in the country for the years 1981-1990 are:

Year1981198219831984198519861987198819891990Birthrate15.915.515.515.715.715.615.715.916.216.7
(The birthrate is the number of live births/1,000 population.)

Compute the mean, variance, and standard deviation of the random variable X.
a.

1 points

### Rosa Walters is considering investing \$10,000 in two mutual funds. The anticipated returns from price appreciation and dividends (in hundreds of dollars) are described by the following probability distributions:

Mutual Fund A

ReturnsProbability-40.280.3100.5
Mutual Fund B

ReturnsProbability-20.260.680.2
Compute (in dollars) the mean and variance for each mutual fund.

1 points

### The number of Americans without health insurance, in millions, from 1995 through 2002 is summarized in the following table.

Year19951996199719981999200020012002Americans40.541.443.644.740.239.241.143
What is the standard deviation of Americans without health insurance in the period from 1995 through 2002?
a. million

1 points

1 points

### A survey was conducted by the market research department of the National Real Estate Company among 500 prospective buyers in a large metropolitan area to determine the maximum price a prospective buyer would be willing to pay for a house. From the data collected, the distribution that follows was obtained.

Compute the standard deviation of the maximum price (in thousands of dollars) that these buyers were willing to pay for a house. Round the answer to the nearest integer.

Maximum Price Considered, 150160170180190220250270320a.

1 points

### The following table gives the scores of 30 students in a mathematics examination.

Scores90-9980-8970-7960-6950-59Students381351
Find the mean and the standard deviation of the distribution of the given data. Hint: Assume that all scores lying within a group interval take the midvalue of that group.
a.

1 points

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