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SusanAthena
SusanAthena, Master's Degree
Category: Math Homework
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I would like to request Susan Athena to answer these questions... 1.

Resolved Question:

I would like to request Susan Athena to answer these questions...


1. A firm will promote two employees out of a group of six men and three women. Which concept of probability would you use to estimate the probability of each promotion?


Probability of each Promotion

Empirical

Classical

2. The chair of the board of directors says, "There is a 50 percent chance this company will earn a profit, a 30 percent chance it will break even, and a 20 percent chance it will lose money next quarter."

(a) Use an addition rule to find the probability the company will not lose money next quarter.(Round your answer to 2 decimal places.)

(Click to select)0.5 - 0.20.5 + 0.21.0 - 0.20.3 + 0.20.5 + 0.3 =

(b) Use the complement rule to find the probability it will not lose money next quarter.(Round your answer to 2 decimal places.)

(Click to select)0.3 + 0.20.5 + 0.30.5 + 0.20.5 - 0.21.0 - 0.2 =

3. A student is taking two courses, history and math. The probability the student will pass the history course is 0.60, and the probability of passing the math course is 0.70. The probability of passing both is 0.50.

What is the probability of passing at least one? (Round your answer to 2 decimal places.)

Probability=



4. All Seasons Plumbing has two service trucks that frequently need repair. If the probability the first truck is available is .75, the probability the second truck is available is .50, and the probability that both trucks are available is .30

What is the probability neither truck is available? (Round your answer to 2 decimal places.)

Probability=



5. An investor owns three common stocks. Each stock, independent of the others, has equally likely chances of (1) increasing in value, (2) decreasing in value, or (3) remaining the same value.

Estimate the probability at least two of the stocks increase in value. (Round your answer to 3 decimal places.)

Probability=

6.

Assume the likelihood that any flight on Northwest Airlines arrives within 15 minutes of the scheduled time is .90. We select four flights from yesterday for study.

(a) What is the likelihood all four of the selected flights arrived within 15 minutes of the scheduled time? (Round your answer to 4 decimal places.)

Probability=

(b) What is the likelihood that none of the selected flights arrived within 15 minutes of the scheduled time? (Round your answer to 4 decimal places.)

Probability=

(c) What is the likelihood at least one of the selected flights did not arrive within 15 minutes of the scheduled time? (Round your answer to 4 decimal places.)

Probability=
Submitted: 4 years ago.
Category: Math Homework
Expert:  SusanAthena replied 4 years ago.
Hi. Thanks for requesting me!

Your answers are below.

Kind regards,
Susan


1.
Classical




2.
(a)
0.5 + 0.3 = 0.8

(b)
1.0 - 0.2 = 0.8



3.


To solve this I built a contingency table

Pass-History Fail-History Total

Pass Math 0.5 0.2 0.7
Fail Math 0.1 0.2 0.3
Total 0.6 0.4 1

Probability of passing neither is 0.2, so the probability of passing at least one is 1 - 0.2 = 0.8


4.

To solve this I built a contingency table

1st-yes 1st-No Total

2nd-yes 0.3 0.2 0.5
2nd-No 0.45 0.05 0.5
Total 0.75 0.25 1

Using the contingency table, the probability that neither is available is 0.05


5.

The probability that all 3 increase in value is 1/3 * 1/3 * 1/3 = 1/27

So the probability that at least 2 increase in value is 1 - 1/27 = 26/27 = 0.963



6.

(a)
Probability= 0.6561


(b)

Probability= 0.0001


(c)

Probability= 1 - 0.6561 = 0.3439
SusanAthena and other Math Homework Specialists are ready to help you
Customer: replied 4 years ago.

1. Solve the following:

(a). 20!

17!

 

(b) gP 3

 

(c) 7C subscript 2

 

2. A recent survey reported in BusinessWeek dealt with the salaries of CEOs at large corporations and whether company shareholders made money or lost money.


CEO Paid
More Than
$1 Million
CEO Paid
Less Than
$1 Million
Total
Shareholders made money211 13
Shareholders lost money43 7
Total

6

14

20



If a company is randomly selected from the list of 20 studied, calculate the probabilities for the following :

PictureClick here for the Excel Data File


(a)

The CEO made more than $1 million. (Round your answer to 2 decimal places.)


Probability
(b)

The CEO made more than $1 million or the shareholders lost money. (Round your answer to 2 decimal places.)


Probability

(c)

The CEO made more than $1 million given the shareholders lost money. (Round your answer to 2 decimal places.)


Probability
(d)

Select 2 CEOs and find that they both made more than $1 million. (Round your answer to 2 decimal places.)


Probability

 

3. An investor purchased 100 shares of Fifth Third Bank stock and 100 shares of Santee Electric Cooperative stock. The probability the bank stock will appreciate over a year is .70. The probability the electric utility will increase over the same period is .60.


(a)

What is the probability both stocks appreciate during the period? (Round your answer to 2 decimal places.)


Probability
(b)

What is the probability the bank stock appreciates but the utility does not? (Round your answer to 2 decimal places.)


Probability

(c)

What is the probability at least one of the stocks appreciates? (Round your answer to 2 decimal places.)


Probability

 

4. For the daily lottery game in Illinois, participants select three numbers between 0 and 9. A number cannot be selected more than once, so a winning ticket could be, say, 307 but not 337. Purchasing one ticket allows you to select one set of numbers. The winning numbers are announced on TV each night.


(a)How many different outcomes (three-digit numbers) are possible?

Probability

(b)

If you purchase a ticket for the game tonight, what is the likelihood you will win? (Round your answer to 4 decimal places.)


Probability

(c)

Suppose you purchase three tickets for tonights drawing and select a different number for each ticket. What is the probability that you will not win with any of the tickets? (Round your answer to 4 decimal places.)


Probability

 

Explain a unique-real situation where probabilities exist. Point out all of the outcomes, and the probabilities associated with each outcome. ( someone else has the same example that you provided me before with this question

Expert:  SusanAthena replied 4 years ago.
Hi. Thanks for requesting me again. Please accept the answers to the previous question so I can get credit for my work.

thank you!
Susan
Expert:  SusanAthena replied 4 years ago.
Hi. Can you please check 1b? It should be a number where it says "g"

Customer: replied 4 years ago.
there is no number....it just says gP subscript 3
Expert:  SusanAthena replied 4 years ago.
Hi. I'm just following up to see how your statistics class is going. If you need more help, just ask!

Kind regards,
Susan
Customer: replied 4 years ago.
Explain a unique-real situation where probabilities exist. Point out all of the outcomes, and the probabilities associated with each outcome.
Expert:  SusanAthena replied 4 years ago.
Hi. Do you think you could take a screen shot of question 1b for me? The rest of the questions seem straightforward.

Kind regards,
Susan

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