Answer:
A. Mr. Fudd to pay Mr. Leghorn between $500 and $900 to continue hunting.
Explanation:
Answer:
I believe the best and most correct answer is A.)
Explanation:
Answer:
a) 
And adding we got:
b) 
And replacing we got:
![P(X \geq 2)= =1-[0.00049 +0.0054] = 0.994](https://tex.z-dn.net/?f=%20P%28X%20%5Cgeq%202%29%3D%20%3D1-%5B0.00049%20%2B0.0054%5D%20%3D%200.994)
c) 
And replacing we got:
Explanation:
Previous concepts
The binomial distribution is a "DISCRETE probability distribution that summarizes the probability that a value will take one of two independent values under a given set of parameters. The assumptions for the binomial distribution are that there is only one outcome for each trial, each trial has the same probability of success, and each trial is mutually exclusive, or independent of each other".
Solution to the problem
Let X the random variable of interest "number of women", on this case we now that:
The probability mass function for the Binomial distribution is given as:
Where (nCx) means combinatory and it's given by this formula:
Part a
For this case we want to find this probability:
And adding we got:
Part b
For this case we want this probability:
And we can use the complement rule and we got:
And replacing we got:
Part c
For this case we want this probability:
And we can use the complement rule and we got:
And replacing we got:
Complete Question:
James Stilton is the chief executive officer (CEO) of RightLiving, Inc., a company that buys life insurance policies at a discount from terminally ill persons and sells the policies to investors. RightLiving pays the terminally ill patients a percentage of the future death benefit (usually 65%) and then sells the policies to investors for 85% of the value of the future benefit. The patients receive the cash to use for medical and other expenses, and the investors are "guaranteed" a positive return on their investment. The difference between the purchase and sale prices is RightLiving's profit.
Stilton is aware that some sick patients may obtain insurance policies through fraud (by not revealing their illness on the insurance application). An insurance company that discovers such fraud will cancel the policy and refuse to pay. Stilton believes that most of the policies he has purchased are legitimate, but he knows that some are probably not.
Requirement:
What are other ethical concerns that Stilton may be facing?
Answer with Explanation:
The ethical concerns of Stilton are as under:
- Should he tell the investors about the fraud about the policies before making sales?
- What policies must be implemented so that the legitimate people can easily sell the policies and if not implemented it would not be fair for the RightLiving, Inc.
- Stilton will also be facing ethical concerns because the business wishes that the customer dies early so that they can benefit from increased deaths of policy holders.
Answer:
The correct option is D. Customize product offering and marketing strategy to local conditions
Explanation:
Global standardization strategy refers to the ability to use a particular standard of marketing internationally. In other words, it's the ability for an organization to use the same marketing strategy from one country to another country, and across various cultures.
What this means is that an organisation using the global standardization strategy will treat the world as largely one market and one source of supply with little local variation.
Therefore, the firms following the global standardization strategy will not Customize product offering and marketing strategy to local conditions
.
