The probability of a rainy day is 0.25. Assuming this probability holds for every day, what...
The probability of a rainy day is 0.25. Assuming this probability holds for every day, what is the probability that in the next ten days, exactly three are rainy days?
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The probability of a rainy day is 0.25. Assuming this
probability holds for every day, what...
In Markov City, a sunny day is followed by a rainy day with probability 0.82, and...
In Markov City, a sunny day is followed by a rainy day with probability 0.82, and a rainy day is followed by a sunny day with probability 0.81. What proportion of days will be sunny in Markov City, in the long run? (Give the probability rounded to four decimal places.)
3. Let the amount of rain on rainy days be normally distributed with a mean of...
3. Let the amount of rain on rainy days be normally distributed with a mean of 3 cm and standard deviation of 1cm. (a) Find the probability that there is at least 2cm of rain on a randomly chosen rainy day. You can use a normal table to get the probabilities needed or use pnorm() in R. Do get a final answer that is numerical and not just a function of Φ(), the standard normal cdf. (b) Suppose on rainy...
The weather on any given day in a particular city can be sunny, cloudy, or rainy....
The weather on any given day in a particular city can be sunny, cloudy, or rainy. It has been observed to be predictable largely on the basis of the weather on the previous day. Specfically: • if it is sunny on one day, it will be sunny the next day 3/10 of the time, and be cloudy the next day 1/2 of the time • if it is cloudy on one day, it will be sunny the next day 3/10...
Value an umbrella stand that sells 38 umbrellas every day that it is rainy and when...
Value an umbrella stand that sells 38 umbrellas every day that it is rainy and when it is not. The probability of rain on any given day is 36%. Each umbrella sells for $5 and costs $1 to make. The business lasts 2 years and does not pay tax. The company has as much debt as it does equity. The cost of equity and cost of debt is 8% and 10%, respectively. Calculate the discounted cash flow and show all...
1) A day on a planet X can be in 2 states: sunny or rainy. The...
1) A day on a planet X can be in 2 states: sunny or rainy. The climate of planet X is determined by the following pattern: every sunny day is followed by a sunny day with a probability of 2/3, and every rainy day is followed by a rainy day with a probability of 1/3. (a) Find the transition matrix that represents the above change in weather pattern. (b) Find a steady state vector for the above Markov system. 2)...
Every day rainfall (in mm) in the world's most rainy place, Mawsynram (India), is normally distributed...
Every day rainfall (in mm) in the world's most rainy place, Mawsynram (India), is normally distributed with o = 0.2 cm. The mean rainfall on a random sample of 50 days is x = 4.05 cm. a. (7 points) Is there evidence to support the claim that the mean rainfall exceeds 4 cm? Use a = 0.05. (Show the 7-step procedure of hypothesis testing) b. (2 points) At what significance level will the null hypothesis be rejected in part (a)?...
an outdoor restaurant in a summer resort closes only on rainy days finite An outdoor restaurant...
an
outdoor restaurant in a summer resort closes only on rainy days
finite
An outdoor restaurant in a summer resort closes only on rainy days. From past records, it is found that from May through September, when it rains one day, the probability of rain for the next day is 0.4 when it does not rain one day, the probability of rain for the next day is 0.06. (A) Draw a transition diagram (B) Write the transition matrix. (C) if...
The number of Rainy days in a week Year at a certain place is given below....
The number of Rainy days in a week Year at a certain place is given below. OVER a of rainy days 0 1 2 3 4 5 6 7 of times 6 12 9 8 7 5 4 1 number of rainy week. (0) Find the mean variance, and skewness of Rainy days in a (b) what is the probability that there will be 3 or less rainy day in any week?
Find the indicated probability. 23) In January in a certain city the unconditional probability of...
Find the indicated probability. 23) In January in a certain city the unconditional probability of rain on any given day of the month is 0.300.But the probability of rain on a day that follows a rainy day is 0.650 and the probability of rain on a day following a nonrainy day is 0.250. Find the probability of rain on three randomly selected consecutive days in January.
Find the indicated probability. 23) In January in a certain city the unconditional probability...
not sure what to do? An outdoor restaurant in a summer resort closes only on rainy...
not sure what to do?
An outdoor restaurant in a summer resort closes only on rainy days. From past records, it is found that from May through September when it rains one day, the probability of rain for the next day is 0.2 when it does not rain one day, the probability of rain for the next day is 007 (A) Draw a transition diagram chan on Thursday, what is the probably the restaurant will be closed on Saturday? On...
The weather on any given day in a particular city can be sunny, cloudy, or rainy. It has been observed to be predictable largely on the basis of the weather on the previous day. Specfically: • if it is sunny on one day, it will be sunny the next day 3/10 of the time, and be cloudy the next day 1/2 of the time • if it is cloudy on one day, it will be sunny the next day 3/10...
Value an umbrella stand that sells 38 umbrellas every day that it is rainy and when it is not. The probability of rain on any given day is 36%. Each umbrella sells for $5 and costs $1 to make. The business lasts 2 years and does not pay tax. The company has as much debt as it does equity. The cost of equity and cost of debt is 8% and 10%, respectively. Calculate the discounted cash flow and show all...
Every day rainfall (in mm) in the world's most rainy place, Mawsynram (India), is normally distributed with o = 0.2 cm. The mean rainfall on a random sample of 50 days is x = 4.05 cm. a. (7 points) Is there evidence to support the claim that the mean rainfall exceeds 4 cm? Use a = 0.05. (Show the 7-step procedure of hypothesis testing) b. (2 points) At what significance level will the null hypothesis be rejected in part (a)?...
an
outdoor restaurant in a summer resort closes only on rainy days
finite
An outdoor restaurant in a summer resort closes only on rainy days. From past records, it is found that from May through September, when it rains one day, the probability of rain for the next day is 0.4 when it does not rain one day, the probability of rain for the next day is 0.06. (A) Draw a transition diagram (B) Write the transition matrix. (C) if...
The number of Rainy days in a week Year at a certain place is given below. OVER a of rainy days 0 1 2 3 4 5 6 7 of times 6 12 9 8 7 5 4 1 number of rainy week. (0) Find the mean variance, and skewness of Rainy days in a (b) what is the probability that there will be 3 or less rainy day in any week?
Find the indicated probability. 23) In January in a certain city the unconditional probability of rain on any given day of the month is 0.300.But the probability of rain on a day that follows a rainy day is 0.650 and the probability of rain on a day following a nonrainy day is 0.250. Find the probability of rain on three randomly selected consecutive days in January.
Find the indicated probability. 23) In January in a certain city the unconditional probability...
not sure what to do?
An outdoor restaurant in a summer resort closes only on rainy days. From past records, it is found that from May through September when it rains one day, the probability of rain for the next day is 0.2 when it does not rain one day, the probability of rain for the next day is 007 (A) Draw a transition diagram chan on Thursday, what is the probably the restaurant will be closed on Saturday? On...
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