Business Mathematics I
Homework 3
Prepared for
Math 173
Pima Community College
By
Jamal Nadeem
Submitted on
72304
Instructions: Type out a brief yet clear derivation of all answers. All mathematical objects must
be typeset appropriately.
This preview has intentionally blurred sections. Sign up to view the full version.
View Full Document
1.
(
Exercise 1
of
Expected Value
) Let
X
be the sum of the faces obtained by rolling a fair die
twice.
Use the sample space,
S
, to compute
)
7
4
(
≤
≤
X
P
.
Solution.
2
1
36
18
)
1
,
6
(
);
2
,
5
(
);
1
,
5
(
);
3
,
4
(
);
2
,
4
(
);
1
,
4
(
);
4
,
3
(
);
3
,
3
(
);
2
,
3
(
);
1
,
3
(
);
5
,
2
(
);
4
,
2
(
);
3
,
2
(
);
2
,
2
(
);
6
,
1
(
);
5
,
1
(
);
4
,
1
(
);
3
,
1
(
=
=
2.
Let
V
be the product of the faces obtained by rolling a fair die twice.
Use the sample space,
S
,
to compute
)
20
6
(
<
≤
V
P
.
Solution.
36
19
)
3
,
6
(
);
2
,
6
(
);
4
,
5
(
);
3
,
5
(
);
2
,
5
(
);
5
,
4
(
);
4
,
4
(
);
3
,
4
(
);
2
,
4
(
);
6
,
3
(
);
5
,
3
(
);
4
,
3
(
);
3
,
3
(
);
2
,
3
(
);
6
,
2
(
);
5
,
2
(
);
4
,
2
(
);
3
,
2
(
);
6
,
1
(
=
3.
(
Exercise 13
of
Expected Value
) You can invest in either Project A or Project B.
If you invest
in Project A, there is a 30% chance that you
lose
$26,000, a 50% chance that you break even,
and a 20% chance that you make $68,000.
If you invest in Project B, there is a 20% chance that
you
lose
$71,000, a 65% chance that you break even, and a 15% chance that you make $143,000.
This is the end of the preview.
Sign up
to
access the rest of the document.
 Fall '07
 Smith
 Math

Click to edit the document details