FINANCE ba 142 Suppose that you toss two dice.

| June 14, 2018

1) Suppose that you toss two dice. Let event A = the event that thefirst die shows a 4 and B = the event that the total on the two dice is7.True or False? Events A and B are independent events.2) Suppose that next year the U.S. will be in one of the followingeconomic conditions: Boom, Moderate Growth, Recession, orDepression. The probability that each economic condition will occur,and that a jewelry store will earn profits within that broader economiccondition are listed below:QUESTION: The expected profit of the jewelry store during thenext year is?3) Suppose that next year the U.S. will be in one of the followingeconomic conditions: Boom, Moderate Growth, Recession, orDepression. The probability that each economic condition will occur,and that a jewelry store will earn profits within that broader economiccondition are listed below:QUESTION: The standard deviation of the jewelry store’s profitsnext year (rounded to the nearest dollar) is _____Jewelry Store Profits:400,000300,000100,000-500,0004) Suppose that the number of pounds of grapes sold by theSmalltown Co-op grocery store in a day is equally likely to beanywhere between 0 and 100 pounds (fractional values are possible).If you use a probability density function to describe the number ofpounds of grapes sold daily by the store, the height of the function forany number of pounds between 0 and 100 is5) A drug company believes that the annual demand for a drug willfollow a normal random variable with a mean of 900 pounds and astandard deviation of 60 pounds. If the company produces 1000pounds of the drug, what is the chance (rounded to the nearesthundredth) that it will run out of the drug? Assume that the only wayto meet the demand for the drug is to use this year’s productionnumber.6) Smalltown Elevator produces elevator rails. To meet specifications,an elevator rail must be between 0.995 inches and 1.005 inches indiameter. Suppose that the diameter of an elevator rail follows anormal random variable with mean of 1 inch and standard deviationof 0.003 inches. Rounded to the nearest one tenth of one percent,what fraction of all elevator rails will meet specifications?7) The annual revenue-growth rates for a new tech startup during itsfirst 4 years of operations were as follows:QUESTION: Rounded to the nearest tenth of one percent, thestartup’s 4-year Compound Annual Growth Rate was _____

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