Subsets of the original sample space

Assignment Help Finance Basics
Reference no: EM131000637

1. A black velvet bag contains three red balls and three green balls. Each experiment involves drawing two balls at once, simultaneously, and recording their colors, for red, and for green.

(i) Obtain the sample space, assuming that balls of the same color are indistinguishable.

(ii) Upon assigning equal probability to each element in the sample space, determine the probability of drawing two balls of different colors.

(iii) If the balls are distinguishable and numbered from 1 to 6, and if the two balls are drawn sequentially, not simultaneously, now obtain the sample space and from this determine the probability of drawing two balls of different colors.

2. An experiment is performed by selecting a card from an ordinary deck of 52 playing cards. The outcome, ω, is the type of card chosen, classi?ed as: "Ace," "King," "Queen," "Jack," and "others." The random variable X(ω) assigns the number 4 to the outcome if ω is an "Ace;" X(ω) = 3 if the outcome is a "King"; X(ω) = 2 if the outcome is a "Queen," and X(ω) = 1 if the outcome  is  a "Jack"; X(ω) = 0 for all other outcomes.

(i) What is the space of this random variable?

(ii) If the probability set function (Γ) de?ned on the subsets of the original sample space Ω assigns a probability 1/52 to each of these outcomes, describe the induced probability set function P(A) induced on all the subsets of the space by this random variable.

(iii) Describe a physical (scienti?c or engineering) problem for which the above would be a good surrogate "model."

Reference no: EM131000637

Questions Cloud

Probability of having a third boy : Now consider the conjecture (based on empirical data) that, for a family that has already had two boys in a row, the probability of having a third boy is 0.8. Under these conditions, what is now the probability of a family having three boys in a r..
Discuss whether you are for or against free trade : Discuss whether you are for or against free trade. Start by explaining what it is and who does and does not benefit from it. Use real life examples to explain your case.
Which province has many counties in kenya : Kenya is divided into___________ counties. Which province has many counties in Kenya.
All the purchases from baker occurred during : Goods were in transit from Greg to Reagan on December 31. The cost of the goods was $25,000, and they were shipped f.o.b. shipping point on December 29.
Subsets of the original sample space : If the probability set function P (Γ) de?ned on the subsets of the original sample space Ω assigns a probability 1/52 to each of these outcomes, describe the induced probability set function PX (A) induced on all the subsets of the space V by this ra..
The following transactions occurred during : Assuming that operating expenses other than those indicated in the above transactions amounted to $150,000, determine income before income taxes for 2011.
Calculate the radius of its path in the magnetic field : An electron is accelerated from rest by a potential difference of 350 V. It then enters a uniform magnetic field of magnitude 200mT with its velocity perpendicular to the field. Calculate the speed of the electron as It enters the magnetic field.
Determine the single firm long-run equilibrium quantity : A perfectly competitive firm's cost function and inverse demand is estimated as TC (total cost) = 150 + 3q + 2q^2          q= quantity   p=price P=135-3Q  Determine the single firm long-run equilibrium quantity.
Find the magnetic field created by the loop in its center : An current of 5 A is flowing in the closed circular loop with radius 5cm as shown in the above diagram. Find the magnetic field created by the loop in its center.

Reviews

Write a Review

Finance Basics Questions & Answers

  Financial reporting and analysis

Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..

  A report on financial accounting

This report is specific for a core understanding for Financial Accounting and its relevant factors.

  Describe the types of financial ratios

Describe the types of financial ratios and other financial performance measures that are used during venture's successful life cycle.

  Differences between sole proprietorship and corporation

Briefly describe the major differences between a sole proprietorship and a corporation

  Prepare a cash budget statement

Calculate the expected value of the apartment in 20 years' time. What is the mortgage loan repayment at the beginning of each month

  What are the implied interest rates

What are the implied interest rates in Europe and the U.S.?

  State pricing theory and no-arbitrage pricing theory

State pricing theory and no-arbitrage pricing theory

  Small business administration

Identify the likely stage for each venture and describe the type of financing each venture is likely to be seeking and identify potential sources for that financing.

  Effect of financial leverage

The Effect of Financial Leverage and working capital management

  Evaluate the basis for the payment to the lender

Evaluate the basis for the payment to the lender and basis for the payment to the company-counterparty.

  Importance of opps, ipps, mpfs and dmepos

Research and discuss the differences and importance of : OPPS, IPPS, MPFS and DMEPOS.

  Time value of money

Time Value of Money project

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd