Question

Save Score: 0.5 of 1 pt 2 of 15 (15 complete) HW Score: 70%, 14 of 20 pts 6.2.7 E estion Help An orthodontist has three financing packages, and each has a different service charge. He estimates that 10% of patients use the first plan which has a $10 franche: 40% use the second plan which has a $20 finance charge and 50% use the third plan which has a $30 finance charge. Complete parts and a) Find the expected value of the service charge EX) $24 b) Find the standard deviation of the service charge. (Round to two decimal places as needed.)

Answer 1

Solution: from the given information, orthodonist has three financing packages an 10 20 30 wa chaorge) percentage 50% 402 40% 0.1 Probability @ Expected. valie 6(*) - EXP(x) 3.10(0.1) † 20(0.4) + 3060.5) : 24 b) .. 6(x): 24/ standard deviation SO(u): JEx PC*) - ú? 110% (0.1) + 20%(0,4) + 30%(0,5) - 24? : 620 376 14h

Jau : 6.6332 – 6.63 6.63 soloton 2 :: Given, anticipates a profit of 30,000 40% of chance of happening ... then 60% of non happening Gext = 30: Total probability should be Equal to pay out a P(x:x) 10 10.6. 1. because 0,4 30,000 . (a) E(M) ; Ex P(x) ::: 0x0.6 + 30,000 X 0,4 = 12000 ii Expected value f(x): 12000 000

standoond deviaton عمر - رم دے : (503 - + (0 . 6) و 200 ) - (Scooco . u 2/6 000000 14696939 . 1697 ه 4697 i standard deviation :

. . .. Queston 3-. . Given doba, P(x) 0.04 0.24 0.33 0.15 0.15 0.09 03 CCX) peas neos mean u = Eup(x) OX0.04 + 1X0.24 + 2x0.33 + 3 X0.15 + 480,15+5x0.09 : 2.4 . : li mi 2.4 (6) standard deviation 0 | Ex? PCM) - ce? : V 70 (0.04)+ 12(0,2%) + 22(0,33) + 32(0,15)+4?(0.15) ..+52(0.09) - 214? .118: 1,3416 2 7.56 - 5,76 To: 1,3416. ^_13/