5. Suppose the firm has a fixed cost of $20,000 in preparing equipment prior to doing...

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5. Suppose the firm has a fixed cost of $20,000 in preparing equipment prior to doing its first exploration. If each successful exploration costs $30,000 and each unsuccessful exploration costs $15,000, find the expected total cost to the firm for its ten explorations. ii) A warehouse contains ten printing machines, four of which are defective. A company selects five of the machines at random, thinking all are in working condition. What is the probability that all five of the machines are non-defective? 5. Suppose the firm has a fixed cost of $20,000 in preparing equipment prior to doing its first exploration. If each successful exploration costs $30,000 and each unsuccessful exploration costs $15,000, find the expected total cost to the firm for its ten explorations. ii) A warehouse contains ten printing machines, four of which are defective. A company selects five of the machines at random, thinking all are in working condition. What is the probability that all five of the machines are non-defective?