Question

Two brothers are in a hurry to raise money for an activity. Theamount ofmoney each of...

Two brothers are in a hurry to raise money for an activity. Theamount ofmoney each of them collects is independent of that of the other and is uniformly distributed between $10 and $25. What is the probability that either brother is able to bringhomemore than twice as much money than the other?

Homework Answers

Answer #1

As the two variables X and Y which are the money brought by them are independent of each other, therefore the joint PDF for the amount of money brought by them is modelled here as:

Now the probability that either brother is able to bringhomemore than twice as much money than the other is computed here as:

.

As Y > 2X, the max value of X can only be 12.5 here, because 2*12.5 = 25.

Therefore 1/18 = 0.0556 is the required probability here.

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Two brothers named Mario and Luigi like to compete against each other by playing a certain...
Two brothers named Mario and Luigi like to compete against each other by playing a certain video game. One afternoon, Mario wins and is a being a jerk about it. Luigi is convinced that he is better than Mario and starts keeping track of who wins every time they play. Over the next 40 games, Luigi wins 22 of them (55%). Luigi knows that 22 wins in 40 games is not enough evidence to conclude that the brothers are not...
3) For a binomial probability distribution, the probability of success and failure. A. Will change with...
3) For a binomial probability distribution, the probability of success and failure. A. Will change with each trial B. Stays the same from trial to trial 7) Wait times for a school bus are uniformly distributed with a mean 20 minutes and a minimum wait time of 10 minutes. What is the probability a student will wait more than 25 minutes? A. 15% B. 25% 8) Wait times for a school bus are uniformly distributed with a mean 20 minutes...
4.) The student council is hosting a drawing to raise money for scholarships. They are selling...
4.) The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $10 each and will sell 800 tickets. There is one $3,000 grand prize, three $400 second prizes, and thirteen $30 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent. 5.)61% of all students at a college still need to take another math class. If 50 students are randomly selected, find the probability...
Brothers Victor and Logan each have $100 to spend on comic books (X) and all other...
Brothers Victor and Logan each have $100 to spend on comic books (X) and all other goods (Y). Comic books cost $5 each, and all other goods (AOG) have a composite price of $1 each. Assume that their preferences are represented by convex indifference curves. Their grandfather wants to give each boy either 5 comic books or $25 for their birthday. For the analyses below, include a budget line, indifference curve, and optimal choice for each option (comic books and...
This is the random process problem. Vehicles of two different types, cars and trucks, arrive to...
This is the random process problem. Vehicles of two different types, cars and trucks, arrive to a gas station, so that gaps between their arrivals are independent exponential random variables with parameter 1 (vehicle per hour). Each vehicle, independently of others, is a car with probability p and is a truck with probability 1−p. Independently of other vehicles, each car and truck fills up by the number of gallons that is uniformly distributed between [8, 12] and [14, 16], respectively....
Let X1, X2 be two normal random variables each with population mean µ and population variance...
Let X1, X2 be two normal random variables each with population mean µ and population variance σ2. Let σ12 denote the covariance between X1 and X2 and let ¯ X denote the sample mean of X1 and X2. (a) List the condition that needs to be satisfied in order for ¯ X to be an unbiased estimate of µ. (b) [3] As carefully as you can, without skipping steps, show that both X1 and ¯ X are unbiased estimators of...
1.       A researcher tells you that flights between two cities in the United States are uniformly...
1.       A researcher tells you that flights between two cities in the United States are uniformly distributed with arrival times that vary between 4 hours and 4 hours 30 minutes, with a mean of 4 hours 15 minutes. a.       Sketch out a related graph, being sure to label the base and the height appropriately. (10 pts.) b.       What is the probability of a randomly chosen flight between these two cities arriving in less than 4 hours 10 minutes? (15 pts.)...
John Jackson makes the following offer to his two sons, Dave and Thomas. He says that...
John Jackson makes the following offer to his two sons, Dave and Thomas. He says that each of them is to submit a written request for an amount that they want (in whole dollars). They can request $0. Let $ D (respectively, $T ) denote the amount requested by Dave (respectively, Thomas). Each son is to decide on the amount to request without the knowledge of the amount requested by the other brother. If D + T ≤ 20, then...
1) There are two more assignments in your course before the semester ends, and if you...
1) There are two more assignments in your course before the semester ends, and if you get an A on at least one of them, you will get an A for the semester. Your "what-if" scenario looks like this: Event Probability A on paper and A on presentation .25 A on paper only .10 A on presentation only .20 Do not get an A on either .35 Answer the following questions: (1 point each, except the last item, 2 points)...
14.Each of two investment projects has a probability of 0.03 of a loss of $20 million...
14.Each of two investment projects has a probability of 0.03 of a loss of $20 million and a probability of 0.97 of a loss of $2 million during a one-year period. They are independent of each other. What are the 99% VaR and expected shortfall (ES) for a portfolio consisting of the two investments? VaR = $20 million; ES = $0.2362 million ($236,200) VaR = $22 million; ES = $23.62 million VaR = $20 million; ES = $23.62 million VaR...