2. John Nowell sells new cars for Pohlman Chevy. John usually sells the largest

Question

2. John Nowell sells new cars for Pohlman Chevy. John usually sells the largest number of cars on Saturday. Over time he has established the following probability distribution for the number of cars he expects to sell on a given Saturday 0 0.10 0.30 0.60 0.90 .00 a. What is the probability that John will sell at least two cars on a given Saturday? b. What is the probability that John will sell exactly two cars on a given Saturday? 3. In the casino game of roulette, you can bet on whether the ball will fall in an arc on the wheel colored red, black, or green. The ares are of equal length with 18 colored red, 18 colored black and 2 colored green. Suppose you make a $5 bet on red. a. Create a probability distribution for this situation where X net winnings for this single bet. (4 points b. Compute the expected or mean net winnings for this single bet. Use the correct notation.

Explanation / Answer

Q1) a) P(X>=2) = 1-P(X<=1) = 1-0.30 = 0.70

b) P(X = 2) = F(2)-F(1) = 0.60-0.30 = 0.30

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