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Jim owns an ice cream stand. Weekly sales and prices depend on the weather. If it is a normal week Jim sells between 300 and 500 ice cream cones at an average selling price of $2.50 each. If it is a hot week he sells between 350 and 675 ice cream cones at an average selling price of $2.75 each. Regardless of the weather conditions the cost per cone is $1.25 and his fixed costs per week are $100. On average, 20% of weeks are hot weeks. Perform a Monte Carlo simulation and use it to estimate Jim's average profit per week, the probability that weekly profit for a given week will be greater than $500, and the probability that any given week will result in a profit of less than $300.
The following two questions appear on an employee survey questionnaire. Each answer is chosen from the five point scale 1 (never), 2, 3, 4, 5 (always).
In a subway station, there are exactly enough customers on the platform to fill three trains. The arrival time of the nth train is X1 + ··· + Xn where X1, X2,... are iid exponential random variables with E[Xi] = 2 minutes.
A stock is worth 50 today. Interest rates are zero. It is worth 40 or 70 tomorrow. What risk-neutral probabilities should be used to price an option?
Describe the independent variable and the dependent variables?
Verify that for the data in the previous problem, the boxplot rule declares the values 20, 240, and 250 outliers. -What do the last three problems suggest about the boxplot rule versus the classic rule for detecting outliers?
If the sample mean is 9, the hypothesized population mean is 7, and the population standard deviation is 2, compute the test value needed for the z test.
assume that womens heights are normally distributed with a mean of 63.6 inches and a standard deviation of 2.5 inches.
which of the following is an example of a correlational study?a. what are the attitudes of the parents about the
Based on this compute a 95% confidence interval for the proportion of the couples who bought the book who stayed together.
mike dreskin manages a large los angeles movie theater complex called cinema i ii iii and iv. each of the four
Which confidence interval has the most variability?
a market research survey is available for 10000. using a decision tree analysis it is found that the expected monetary
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