Chapter 11: Problem 3
A popular brand of pen is available in three colors (red, green, or blue) and four writing tips (bold, medium, fine, or micro). How many different choices of pens do you have with this brand?
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Chapter 11: Problem 3
A popular brand of pen is available in three colors (red, green, or blue) and four writing tips (bold, medium, fine, or micro). How many different choices of pens do you have with this brand?
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The tables in Exercises 3-4 show claims and their probabilities for an insurance company. a. Calculate the expected value and describe what this means in practical terms. b. How much should the company charge as an average premium so that it breaks even on its claim costs? c. How much should the company charge to make a profit of \(\$ 50\) per policy? PROBABILITIES FOR MEDICAL INSURANCE CLAIMS $$ \begin{array}{|c|c|} \hline \begin{array}{c} \text { Amount of Claim (to the } \\ \text { nearest } \mathbf{\$ 2 0 , 0 0 0 )} \end{array} & \text { Probability } \\ \hline \$ 0 & 0.70 \\ \hline \$ 20,000 & 0.20 \\ \hline \$ 40,000 & 0.06 \\ \hline \$ 60,000 & 0.02 \\ \hline \$ 80,000 & 0.01 \\ \hline \$ 100,000 & 0.01 \\ \hline \end{array} $$
In Exercises 33-36, we return to our box of chocolates. There are 30 chocolates in the box, all identically shaped. Five are filled with coconut, 10 with caramel, and 15 are solid chocolate. You randomly select one piece, eat it, and then select a second piece. Find the probability of selecting two solid chocolates in a row.
Explain how to find or probabilities with mutually exclusive events. Give an example.
Of the 38 plays attributed to Shakespeare, 18 are comedies, 10 are tragedies, and 10 are histories. In Exercises 79-86, one play is randomly selected from Shakespeare's 38 plays. Find the odds against selecting a comedy.
Performing at a concert are eight rock bands and eight jazz groups. How many ways can the program be arranged if the first, third, and eighth performers are jazz groups?
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