Homework 6

Homework 6 - This means that a player is expected to...

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Brett Rojas October 28, 2010 OM 210 – 301 Homework #6 Section 5.2, Problem 11 a) Call Length Probability 1 Hour .25 2 Hours .25 3 Hours .25 4 Hours .25 Total: 1 b) c) ∑f(x) = .25 + .25 + .25 + .25 = 1 d) Probability the service call will take three hours: 25% e) Probability the technician will work overtime (between three and four hours): 50% Section 5.4, Problem 19 a) Expected value of a two-point shot:.44 b) Expected value of a three-point shot: .34 c) Because the expected amount of points scored with a two-point shot is (.44)(2) = .88 while the expected amount of points scored with a three-point shot is (.34)(30) = 1.02.
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Unformatted text preview: This means that a player is expected to score .88 points each time they attempt a two-point shot and 1.02 points when they attempt a three-point shot. Section 5.4, Problem 23 a) Expected value of persons in a rent-controlled unit: 1.57 Expected value of persons in a rent-stabilized unit: 2.08 b) Variance of persons in a rent-controlled unit: .863 Variance of persons in a rent-stabilized unit: 1.189 c) According to the data, you can expect more people to live in the rent-stabilized housing because it has a higher expected value and a higher variance....
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