Chapter 11: Problem 71
Write a word problem that can be solved by evaluating \({ }_{7} C_{3^{*}}\).
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Chapter 11: Problem 71
Write a word problem that can be solved by evaluating \({ }_{7} C_{3^{*}}\).
These are the key concepts you need to understand to accurately answer the question.
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A construction company is planning to bid on a building contract. The bid costs the company \(\$ 1500\). The probability that the bid is accepted is \(\frac{1}{5}\). If the bid is accepted, the company will make \(\$ 40,000\) minus the cost of the bid. Find the expected value in this situation. Describe what this value means.
If the probability of being hospitalized during a year is \(0.1\), find the probability that no one in a family of five will be hospitalized in a year.
Involve computing expected values in games of chance. For many years, organized crime ran a numbers game that is now run legally by many state governments. The player selects a three-digit number from 000 to 999 . There are 1000 such numbers. A bet of \(\$ 1\) is placed on a number, say number 115 . If the number is selected, the player wins \(\$ 500\). If any other number is selected, the player wins nothing. Find the expected value for this game and describe what this means
Consider a political discussion group consisting of 5 Democrats, 6 Republicans, and 4 Independents. Suppose that two group members are randomly selected, in succession, to attend a political convention. Find the probability of selecting an Independent and then a Democrat.
Use this information to solve Exercises 35-38. The mathematics department of a college has 8 male professors, 11 female professors, 14 male teaching assistants, and 7 female teaching assistants. If a person is selected at random from the group, find the probability that the selected person is a professor or a female.
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