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never [62]
2 years ago
11

From the set $\{1, 2, 3, \dots, 20\},$ ten numbers are chosen at random, forming a subset. Let $M$ be the largest element among

the ten numbers. Find the expected value of $M.$
Business
1 answer:
Marysya12 [62]2 years ago
6 0

The largest element can be as small as 10, which happens when the subset is {1, 2, ..., 10}.  The probability of choosing this subset is (1/2)^10 = 1/1024.  (Every element from 1 to 10 can either be in the subset, or not.)

The largest element can also be 11.  All the numbers in the subset must be from 1 to 10, and we must choose 1 to leave out, so the probability that the largest element is 11 is C(10,1)*1/1024.

The largest element can also be 12.  All the numbers in the subset must be from 1 to 11, and we must choose 2 to leave out, so the probability that the largest element is 12 is C(11,2)*1/1024.

We can do the other cases similarly:

Largest element is 13 -> C(12,3)*1/1024

Largest element is 14 -> C(13,4)*1/1024

Largest element is 15 -> C(14,5)*1/1024

Largest element is 16 -> C(15,6)*1/1024

Largest element is 17 -> C(16,7)*1/1024

Largest element is 18 -> C(17,8)*1/1024

Largest element is 19 -> C(18,9)*1/1024

Largest element is 20 -> C(19,10)*1/1024

Adding these up, we get (1 + C(10,1) + C(11,2) + ... + C(19,10))*1/1024.  Since 1 = C(9,0), we also get (C(9,0) + C(10,1) + C(11,2) + ... + C(19,10))*1/1024.

By the Hockey Stick Identity, C(9,0) + C(10,1) + C(11,2) + ... + C(19,10) = C(20,10), so the expected value of the largest element is 1/11*C(20,10)*1/1024 = 4199/256.

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2 years ago
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Answer  and Explanation:

1.

Direct Material budget  

April May June

Budgeted Production (Units) 880 1100 1075

Material required per unit (Pounds)4 4 4

Materials needed for production 3520 4400 4300

Add : Desired Ending Inventory 1760 1720 1800

Total Material Requirements (Pounds) 5280 6120 6100

Less : Beginning Inventory 1408 1760 1720

Materials to be purchased (pounds) 3872 4360 4380

Material price per pound $ 3 $ 3 $  3

Budgeted Cost of direct material purchases $     11,616 $        13,080 $       13,140

Ending Inventory is 40% of next month production needs

Ending inventory for June can be analysed from chart given above which shows 1800, therefore production for July is = 1800/40% = 4500 units

Beginning Inventory is taken as 40% of current months

2.

Direct Material budget  

April May June

Budgeted Production (Units) 880 1100 1075

Material required per unit (Pounds) 4 4 4

Materials needed for production 3520 4400 4300

Add : Desired Ending Inventory 1540 1505 1575

Total Material Requirements (Pounds) 5060 5905 5875

Less : Beginning Inventory 1408 1540 1505

Materials to be purchased (pounds) 3652 4365 4370

Material price per pound $  3 $   3 $  3

Budgeted Cost of direct material purchases $     10,956 $        13,095 $    13,110

Budgeted cost for april will therefore down, as less material is required and needed to be purchased.

4 0
2 years ago
Total quality management (TQM) is a comprehensive approach led by top management and supported throughout the organization that
Lelechka [254]

Answer:

This is TRUE.

Explanation: Total quality management refers to the organization-wide efforts to ensure that the working conditions in an organization are geared towards making employees continuously strive to improve their capacity to provide on demand products and services that customers will find of particular value.

The two core principles of Total Quality Management are as follows:

1. People orientation: this has to do with the fact that everyone involved in the organization should focus on delivering top quality service to customers.

2. Improvement orientation: this has to do with the fact that everyone in the organization should work on continuously improving work processes.

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2 years ago
Gator Tires pays a constant annual dividend of $1.21 per share. How much are you willing to pay for one share if you require a r
lora16 [44]

Answer:

I will pay $13 for one share

Explanation:

Dividend Valuation method is used to value the stock price of a company based on the dividend paid, its growth rate and rate of return. The price is calculated by calculating present value of future dividend payment.

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Answer:

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