Revenue into the general fund of the state ofTexas for any biennium is highly dependent onthe price of oil. At a price average of $50 per barrel,general revenue will be $95 billion. At $68and $75 per barrel, the revenue will be $118 billionand $125 billion, respectively. If the chancesare estimated at 10%, 35%, and 55% for oil pricesof $50, $68, and $75 per barrel for the next biennium,respectively, the expected revenue (in $ billion)is closest to: (a) $117.38 (b) $118.02 (c) $118.92 (d) $119.50

ENGR 3341 Probability Theory and Statistics Prof. Gelb Week 2 homework solutions Textbook problems: Section 1.5: Problem 25: A professor thinks students who live on campus are more likely to get As in the probability course. To check this theory, the professor combines the data from the past few years: 1. 600 students have taken the course. 2. 120 students have got As. 3. 200 students lived on campus. 4. 80 students lived off campus and got As. Does this data suggest that “getting an A” and “living on campus” are dependent or independent Solution: let C be the event that a random student lives on campus and A be the event that he/she gets an A. We have: 120