1 Answer

A small software company will bid on a major contract. It anticipates a profit of ​$15,000 if it gets​ it, but thinks

3038 Views
  • 0
Votes
name tutor

A PHP Error was encountered

Severity: Warning

Message: Undefined array key "userid"

Filename: views/question.php

Line Number: 212

Backtrace:

File: /home/statpmkj/public_html/application/views/question.php
Line: 212
Function: _error_handler

File: /home/statpmkj/public_html/application/controllers/Questions.php
Line: 416
Function: view

File: /home/statpmkj/public_html/index.php
Line: 315
Function: require_once

Asked: Jul 05,2019 In: Distributions
1 Answer
name tutor Punditsdkoslkdosdkoskdo
Asked: Jul 05,2019 In: Distributions

A small software company will bid on a major contract. It anticipates a profit of ​$15,000 if it gets​ it, but thinks

A small software company will bid on a major contract. It anticipates a profit of ​$15,000 if it gets​ it, but thinks there is only a 10​% chance of that happening.
​a) What's the expected​ profit?
​b) Find the standard deviation for the profit.


expected distributions
name
  • 0
tutor
tutor Added an answer on Jul 05,2019

As usual Expected values are obtained by multiplying x by the probability value. 

Expected value  = $15,000 * 0.10 = 1500

Standard deviation =square root (15000^2 * 0.10 - 1500^2)  =  $4500

 

  • 0
Reply Report


Popular Questions

Trending Tags

frequency distributions of data values confidence interval mean mean estimation Business analysis project help