The possible outcomes from a business venture are graded from 5 to 1, as shown in the

Question:

The possible outcomes from a business venture are graded from 5 to 1, as shown in the following table.

a. Calculate the expected grade and use it to describe the expected outcome of the venture. Find the standard deviation and explain what it gives a measure of in this case.

b. Investigate the expected outcome and the standard deviation when the grading is reversed (i.e. high profit is graded 1, and so on). Compare these outcomes with those from part a.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Cambridge International AS & A Level Mathematics Probability & Statistics 1 Coursebook

ISBN: 9781108407304

1st Edition

Authors: Dean Chalmers, Julian Gilbey

Question Posted: Sep 13, 2021 03:07 AM

See More Questions

The data shown in the following table are highway gasoline mileage performance and engine displacement for a sample of 20 cars. (a) Fit a simple linear model relating highway miles per gallon (y) to...
A government held the securities shown in the following table in one of its investment portfolios. All the securities are either stocks or bonds that mature in more than one year. 1. Ignoring...
Use the information in the following table to calculate nominal and real GDP for 2005 and 2012. Assume that 2005 is the base year. 2005 2012 Product Quantity Price Quantity Price Oranges 400.50...
According to a recent study, the IT strategic role that has the greatest impact on shareholder value is: a. informate. b. digitize. c. automate. d. transform.
Calculate the heat involved when 76.5 g of Ag increase temperature from 17.8(C to 144.5(C. The specific heat of Ag is 0.233 J/g(C.
The comparative balance sheets for 2013 and 2012 and the statement of income for 2013 are given below for Dux Company. Additional information from Duxs accounting records is provided also. Additional...
Why is leasing versus buying an unfair comparison?
Using the information in E24-3, assume that in July 2017, Myers Company incurs the following manufacturing overhead costs. Instructions (a) Prepare a flexible budget performance report, assuming that...
1. 2. (c) Be(OH)2 (d) Sr(OH)2 Number of amphoteric compounds among the following is (a) BeO (B) Bao The stepwise formation of [Cu(NH)]* is given below: C ANH, LE [Cu(NH, ) [Cu(NH)]+NH, [Cu(NH3)2]+NH,...
Refer to the previous exercise. Instead of 49, suppose that 64 Americans were surveyed about their weekly expenditures on coffee. Assume the sample mean remained the same. a. What is the 95%...
A fair triangular spinner has sides labelled 0,1 and 2, and another fair triangular spinner has sides labelled 1, 0 and 1. The score, X, is equal to the sum of the squares of the two numbers on which...
Two ordinary fair dice are rolled. The product and the sum of the two numbers obtained are calculated. The score awarded, S, is equal to the absolute (i.e. non-negative) difference between the...
What do the bond angles of beryllium hydride suggest about the hybridization state of the beryllium atom?
Celebrities earn millions of dollars each year for these endorsements, but ultimately, it is the consumer who pays the exorbitant fees. Should there be regulations on the fees paid to celebrities and...
A person named Jane applied for a job you advertised on jobstreet.com. After interviewing her, however, you decided to reject her application as you had found a more suitable candidate for the job....
Determine g(x + a) - g(x) for the following function. Answer g(x+a) g(x) = g(x)=3x-2
To prepare for your journal, please participate in the following experiments: Do not use the internet for 24 hours. You can use your phone to make a call, but do not text or use the internet (you...
Due to the Covid-19 pandemic, your employer in a meeting with all his staff, announced that he would be deducting staff salary as a way to cope with the company's financial losses. How would you...
A vicinal diol has OH groups on adjacent carbons. The dehydration of a vicinal diol is accompanied by a rearrangement called the pinacol rearrangement. Propose a mechanism for this reaction. OH OH...
A line l passes through the points with coordinates (0, 5) and (6, 7). a. Find the gradient of the line. b. Find an equation of the line in the form ax + by + c = 0.
a. Express 5 - 2i/1+3i in the form x + iy where x and y are real numbers. b. Solve w 2 2w + 26 = 0. c. On a sketch of an Argand diagram, shade the region whose points represent complex numbers...
Write each of the following in the form x + iy, where x and y are real values. a. z 1 + z 2 * b. z 1 * + z 2 c. z 1 z 2 d. z 1 /z 2 z 1 = 5 3i and z 2 = 1 + 2i
At a point with coordinates (x, y) the gradient of a particular curve is directly proportional to xy 2 . At a particular point P with coordinates (1, 3) it is known that the gradient of this curve is...
What types of workplace actions do you think merit progressive discipline and what types merit more serious disciplinary actions such as discharge? Explain your answer. How is Hyundai using the...
Suppose you turn on a system and everything is dead no lights, nothing on the monitor screen, and no spinning fan or hard drive. You verify that the power to the system works, all power connections...
KLM plc deals in a fast moving product,Kali.Its daily requirement is 120 units of kali.It costs KLM plc $ 100 for every order of Kalikali that sells at $ 270 per unit.The stock holding cost of Kali...

The possible outcomes from a business venture are graded from 5 to 1, as shown in the

Question:

Grade 5 4 3 2 Outcome High profit Fair profit No loss Small loss Heavy loss Probability 0.24 0.33 0.24 0.11 0.08

Step by Step Answer:

Given that The possible outcomes from a business venture are g...View the full answer

Cambridge International AS & A Level Mathematics Probability & Statistics 1 Coursebook

Students also viewed these Mathematics questions