Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Statistics and Probability Expert

In a certain city, 30% of the families have a MasterCard, 20% have an American Express card, and 25% have a Visa card. Eight percent of the families have both a MasterCard and an American Express card. Twelve percent have both a Visa card and a MasterCard. Six percent have both an American Express card and a Visa card.

a. What is the probability of selecting a family that has either a Visa card or an American Express card?

b. If a family has a MasterCard, what is the probability that it has a Visa card?

c. If a family has a Visa card, what is the probability that it has a MasterCard?

d. Is possession of a Visa card independent of possession of a MasterCard? Why or why not?

e. Is possession of an American Express card mutually exclusive of possession of a Visa card?

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M9956521
  • Price:- $10

Priced at Now at $10, Verified Solution

Have any Question?


Related Questions in Statistics and Probability

1 the personnel office at a large electronics firm

1. The personnel office at a large electronics firm regularly schedules job interviews and maintains records of the interviews. From the past records, they have found that the length of a first interview is normally dist ...

1nbspfind the probability that among 16 randomly selected

1) Find the probability that among 16 randomly selected people; at least 4 believe that college is no longer a good investment. P ( x > or = 4), n=16, p=0.1 2) Find the probability that among 16 randomly selected people; ...

Monroe inc is evaluating a project the company uses 138

Monroe, Inc, is evaluating a project. The company uses 13.8 percent discount rate for this project. cost and cash flows are shown in the table. What is the NPV of the project? year. Project 0. ($11,368,000) 1. $2,187,590 ...

The length of time a person takes to decide which shoes to

The length of time a person takes to decide which shoes to purchase is normally distributed with a mean of 8.21 minutes and a standard deviation of 1.90. Find the probability that a randomly selected individual will take ...

A population has a mean mu equals84 and a standard

A population has a mean mu equals84 and a standard deviation sigma equals6. Find the mean and standard deviation of a sampling distribution of sample means with sample size n=36.

Iq test scores of students are normally distributed with

IQ test scores of students are normally distributed with mean μ=100 and standard deviation σ=10. What is the 33th percentile of the IQ scores? For a randomly chosen student, what is the probability that his or her IQ sco ...

You are in charge of numbering the homes in a new

You are in charge of numbering the homes in a new subdivision. If we were to ue 0 through 9 as our number to use and we want to have 3 digit house numbers, how many unique homes numbers would we potentially be able to pr ...

The length of time needed to complete certain test is

The length of time needed to complete certain test is normally distributed with mean 74 minutes and standard deviation 17 minutes. Find the probability that it will take more than 70 minutes to complete the test. 0.7035 ...

In a random sample ofnbsp50nbsprefrigerators the mean

In a random sample of 50 ?refrigerators, the mean repair cost was ?$146.00 and the population standard deviation is ?$17.80. Construct a 90?% confidence interval for the population mean repair cost. Interpret the results ...

Based on labornbspstatisticsnbsp12 nbspof workers in a

Based on labor? statistics, 12 % of workers in a particular profession are male. Complete parts a through e below based on a random sample of 8 workers in this profession. a.  What is the probability that exactly one wor ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As