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1. Suppose that if it is cloudy, the probability of rain is 0.3, and the probability of it being cloudy is 0.2. What is the probability that it is cloudy and raining?
Your answer must be precise to two decimal points.
2. The weight of a pumpkin is normally distributed with a mean of 10 kilograms and a standard deviation of 2.0 kilograms. There is a 75.17% chance that we would find a pumpkin that weighs more than what?
Write down the details of the solution
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Suppose that the preferences a typical American has for quantities of electricity (E) and gasoline (G) is given by U(E,G) = a ln(E) + (1 - a) ln(G). If a = .75, find the optim
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