The first 3 characters of standard NJ license plates consist of one letter follo

Question

The first 3 characters of standard NJ license plates consist of one letter followed by two digits. The letter cannot be Q, I, Z, or O; the digits can be any of the digits 0 through 9. Digits cannot be repeated. How many different possibilities are there for the first 3 license plate characters? There are 6 weekend shifts available (Saturday morning, afternoon, and evening and Sunday morning, afternoon, and evening). The employee must work 2 weekend shifts. How many different combinations of two weekend shifts are there? The probability of a 60-year-old woman living for the next year is .99345. Suppose a $50, 000 one-year term life insurance policy for a 60-year-old woman costs $899. What is the expected value (mean) for this policy, for the insurance company?

Explanation / Answer

1)for number of letters have 22 choices and for first digit we have 10 choices and for 2nd 9 choices

hence total possibilities =22*10*9 =1980

2)selecting 2 weekend shift out of 6 =6C2 =6!/(2!*4!) =15

3)expected value =899-(1-0.99345)*50000=571.5

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