EXPERIENCE 4 ASSIGNMENT Creating a discrete probability distribution: A venture capitalist, willing to invest $1,000,000, has three investments to choose from. The first investment, a social media company, has a 20% chance of returning $7,000,000 profit, a 30% chance of returning no profit, and a 50% chance of losing the million dollars. The second company, an advertising firm has a 10% chance of returning $3,000,000 profit, a 60% chance of returning a $2,000,000 profit, and a 30% chance of losing the million dollars. The third company, a chemical company has a 40% chance of returning $3,000,000 profit, a 50% chance of no profit, and a 10% chance of losing the million dollars. a. Construct a Probability Distribution for each investment. This should be 3 separate tables (See the instructors video for how this is done) In your table the X column is the net amount of profit/loss for the venture capitalist and the P(X) column uses the decimal form of the likelihoods given above. b. Find the expected value for each investment. c. Which investment has the highest expected return? d. Which is the safest investment and why? e. Which is the riskiest investment and why? When you are finished with your Assignment, upload the completed file below. You can create a spreadsheet with all of the above and submit it or create a document or write it up by hand and scan it.Suppose you work for a company that manufactures electronics. The development analysts estimate that 1% of their flagship product will fail within 2 years of the purchase date, with a replacement cost of $ 1500. A newly hired associate at the company proposes to charge $ 6 for a 2-year warranty. a. Compute the expected value of this proposal. Let X be the amount profited or lost (by the company) on the warranties and P(X) is the probability. E=E= b. Interpret the expected value in complete sentences. (See Example 4.3 in the textbook for an example of this) c. Write your review of the proposal and address it to VP of marketing and promotions. Include the following in your essay: Would the proposal benefit the company? Why or why not? Include the new proposed cost, new expected value, interpretation of the new expected value, and explanation of how the new cost was chosen. Question 1Choose FileNo file chosen PRACTICE E4 A group of people were asked if they had run a red light in the last year. 458 responded "yes", and 423 responded "no". Find the probability that if a person is chosen at random, they have run a red light in the last year. Give your answer as a fraction or decimal to 4 decimal places A random variable is defined as a process or variable with a numerical outcome. Which of the following are random variables?For families with 5 children, let XX be the number of children with Genetic Condition B. Can the following table be a probability distribution for the random variable XX?Assume that 12 jurors are randomly selected from a population in which 80% of the people are Mexican-Americans. Refer to the probability distribution table below and find the indicated probabilities. The amount of rain, in inches, that will fall next Friday in Dallas, TX. The major of a randomly drawn student from Arizona State University. The number of books purchased next year by your local library. i onlyii onlyiii onlyi and iiiii and iiii, ii, and iii xx P(x)P(x) 1 0.5558 2 0.034 3 0.121 4 0.3384 5 0.0378 yesno xx P(x)P(x) 0 0+ 1 0+ 2 0+ 3 0.0001 4 0.0005 5 0.0033 6 0.0155 7 0.0532 8 0.1329 9 0.2362 10 0.2835 11 0.2062 12 0.0687 Find the probability of exactly 6 Mexican-Americans among 12 jurors. Round your answer to four decimal places. P(x=6)=P(x=6)= Find the probability of 6 or fewer Mexican-Americans among 12 jurors. Round your answer to four decimal places. P(x≤6)=P(x≤6)= Does 6 Mexican-Americans among 12 jurors suggest that the selection process discriminates against Mexican-Americans? noyes Probability Scores 0.1 2 0.5 8 0.25 9 0.05 11 0.1 13 Find the expected value of the above random variable.

Discussion QuestionUsing the Excel Sheet and descriptive statistics page; you will write up your analysis for the 20 participants. This week, you learned about the statistical software applications used to analyze data for research analysis. For this week's discussion, you will use Excel sheet provide to run descriptive statistics, create graphs and respond to the following:How could you use Excel descriptive statistics for data analysis research?What are your plans for learning more about Excel and how will the information you learned about this software be of benefit in your future analysis of research data?Refer to this week’s readings and video tutorials before starting this two part discussion question assignment. Step 1: Entering DataOpen a blank worksheet in the Excel programYou will now use Excel to view a sample datasetDataset OptionsIn many cases, researchers may have the data from their study in another software package like Microsoft Excel. However, if the data is not available in a software spreadsheet you can manually enter the data. Option 2: Manual Data EntryIn the Worksheet window, type “Age” in C1. Enter the numbers as shown in the dataset below. Enter the remaining data as shown below (set up your column labels i.e., variable). The measure reflects math anxiety and the study variables (cringe, uneasy, afraid, worried, understand) the math anxiety range is from 1–5 with low being the least and 5 the highest. Age Cringe Uneasy Afraid Worried Understand 28 5 3 4 4 3 34 2 5 3 2 1 25 4 4 4 2 5 56 3 4 3 1 2 23 5 4 3 3 4 29 1 5 3 2 3 30 3 3 5 2 5 59 2 5 5 1 2 45 4 2 5 3 3 38 1 2 4 1 1 33 3 2 4 3 2 47 4 2 3 4 5 24 1 5 3 4 4 29 5 4 2 1 3 53 3 1 5 2 1 48 4 4 1 5 3 27 2 5 4 3 4 34 4 4 3 2 5 26 4 5 2 3 2 36 5 5 5 4 3 Step 2: Click on Excel tab for Add Ins; if you do not see statistics; you will need to open the file option; click on Add ins; click on ok; a box will open which will allow you to choose Statistics package; place a check mark in the box and click ok. How to Run Descriptive StatisticsNow that your data is in Excel, you will look at the descriptive statistics for this dataset. Select the data in all the columns except the top that has words for the columns; however you have the file already completed and a picture of the descriptive statistics..See end of page for a copy of the excel sheet and descriptive statistics output.Discussion Question Part 1How could you use Excel descriptive statistics for data analysis research? Write about your experience running descriptive statistics. Use the results in the Session Window to support your response. Then add to your discussion with the information you learn writing up your analysis.Step 3: Excel and GraphsYou will now look at graphing. Select insert graph located at the top of the sheet; highlight the data you want to use for a chart; select the type of chart; select ok. Try using the histogram feature for one of the variables and select "Ok". You can create other Histogram graphs by choosing different variables. You can also choose from the other ten graph choices shown on the insert chart function.Discussion Question Part 2What are your plans for learning more about Excel and how will the information you learned about this software be of benefit in your future analysis of research data? Copy and paste your graph(s) in a Word document and attach to your discussion response.