1. A farmer estimates her hens will produce 3,000 dozen more eggs this year than last year.
She estimates the probability of her net profit or
loss on each dozen eggs based on her costs.
SEE EXAMPLE 1
Egg production last year: 12,000 dozen
Estimated Net Profit per Dozen Eggs
Net profit 8 6 4 2 °
8 6 4 2 0
(¢ per doz)
Probability 0.1 0.4 0.2 0.1 0.1 0.1

What is her expected profit per dozen eggs?

What is her expected profit on the total egg
production?

Unaware that 35% of the 10000 voters in his constituency support him, a politician decides to estimate his political strength. a sample of 200 voters shows that 40% support him. a. what is the population? b. what is the parameter of interest? state its value c. what is the statistics of the interest? state its value d. compare your answers in (b) and (c) is it surprising they are different? if the politician were to sample another 200 voters, which of the two numbers would most likely change? explain