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SusanAthena, Master's Degree

Category: Math Homework

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Experience: Tutor for Algebra, Geometry, Statistics. Explaining math in plain English.

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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.)

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.)

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 money

2

11

13

Shareholders lost money

4

3

7

Total

6

14

20

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

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