# Question

Lobsters vary in sizes. The bigger the size, the more valuable the lobster per pound (a 6-pound lobster is more valuable than two 3-pound ones). Lobster merchants will sell entire boatloads for a certain price. The boatload has a mixture of sizes. Suppose the distribution is as follows:

What is a fair price for the shipload?

What is a fair price for the shipload?

## Answer to relevant Questions

A large shipment of computer chips is known to contain 10% defective chips. If 100 chips are randomly selected, what is the expected number of defective ones? What is the standard deviation of the number of defective chips? ...A computer laboratory in a school has 33 computers. Each of the 33 computers has 90% reliability. Allowing for 10% of the computers to be down, an instructor specifies an enrollment ceiling of 30 for his class. Assume that a ...A committee of 7 members is to be formed by selecting members at random from a pool of 14 candidates consisting of 5 women and 9 men. a. What is the probability that there will be at least three women in the committee? b. It ...Look at the shape of the binomial distribution for various combinations of n and p. Specifically let n = 5 and try p = 0.2, 0.5, and 0.8. Repeat the same for other values of n. Can you say something about how the skewness of ...Based on the survey conducted by a municipal administration in the Netherlands, Monday appeared to be managements' preferred day for laying off workers. Of the total number of workers laid off in a given period, 30% were on ...Post your question

0