Every year, thousands of people are left homeless due to natural disasters.
Therapy dogs help improve people's mental health.
Guide dogs help blind people earn their independence.
Labradors are a popular breed of dog.
Dogs have always played a significant role in our community.
The old man went to live in a retirement home.
He worked hard to guide his place in the community.
The sentences given are related to dogs and their roles in society. The first sentence talks about natural disasters that leave people homeless. This is a sad...
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aker's gains or losses. The two discrete probability dis
tributions given in the next table were developed from
historical data. They describe the potential total physical
*damage losses next year to the fleets of delivery trucks
of two different firms.
Firm A
Loss Next Year
Probability
§
0
500
01
01
1,000
01
1,500
2,000
2,500
29
3,000
.25
3,500
4,000
.02
4.500
01
01
5,000
01
Firm B
Loss Next Year
0
200
700
1.200
1,700
2.200
2,700
3.200
3,700
4.200
4,700
Probability
00
01
879948
.02
01
a. Verity that both firms have the same expected total
physical damage loss
h. Compute the standard deviation of each prob-
ability distribution and determine which firm faces
the greater risk of physical damage to its fleet next
ycar,
Answer
Both firms have the same expected total physical damage loss. Firm A has a standard deviation of 1,845.45 and Firm B has a standard deviation of 1,072.45, so Firm A faces the greater risk of physical damage to its fleet next year.
The expected total physical damage loss for both firms can be calculated by multiplying the probability of each loss by the amount of the loss and then summing...