Explore BrainMass

Explore BrainMass

    Statistics Business

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    #1
    An investment can lead to a profit of $10,000, $5,000, $4,000, and $1,000, with respective probabilities of .4, .3, .2, and .05. In addition, there is a 3 percent chance of breaking even and a small chance of losing $10,000. Find the expected profit.

    #2
    A car dealership has combined all popular options available in four packages. The first three packages have the same chance of being sold and the fourth package is twice as likely to be sold as any one of the other packages. If package 1, package 2, and package 4 contain a CD player, find the probability that a randomly selected car will be sold with a CD player. Now assume that five different customers have ordered cars independently, what is the probability that at least 3 CD players will be ordered?

    #3
    Average occupancy rate at the Full Moon Motel is about 40 percent. It has 15 rooms. Assuming binomial distribution, find the probability that on any given day

    a) Exactly 6 rooms will be occupied
    b) At least 3 rooms will be occupied
    c) No more than 9 rooms will be occupied
    d) The motel will be full

    © BrainMass Inc. brainmass.com June 3, 2020, 8:32 pm ad1c9bdddf
    https://brainmass.com/statistics/probability/statistics-business-142213

    Solution Summary

    This Solution contains over 300 words and calculations to aid you in understanding the Solution to these questions.

    $2.19

    ADVERTISEMENT