Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Statistics and Probability Expert

Section A -  Solve the following problems-

1. Exercise 1 in page 17

When events are Non-mutually exclusive, two or more of them can happen at the same time. In this case the general rule of addition can be used in calculating probabilities.

General Rule of addition when events are non-mutually exclusive

P(A U B) = P(A) + P(B) - P(A ∩ B)

Exercise 1. Calculate the following probabilities, either by Venn diagram or Probability Rules

a)? P (female)

b)? P (16 or older)

c)? P (female and under 16)

d)? P (A' and B')

e)? P (A' or B')

2. Example 5 and Exercise 1 in page 19

Example 5. Suppose that a large civil engineering company is involved in two major projects: the construction of a bridge in Brazil and a dam in Russia. It is estimated that the probability that the bridge construction will be completed on time is 0.8, while the probability that the dam will be completed on time is 0.7. The teams involved with the two projects operate totally independently, and the company wants to determine the probability that both projects will be completed on time.

Exercise 1. In a Western community, the probability of passing the road test for a driver's license on the first try is 0.75. After that, the probability of passing becomes 0.60 regardless of how many times a person has failed. What is the probability of getting one's license on the fourth try? (Hint: you can use a tree diagram)

3. Exercise 2 in page 21

Exercise 2. In reference to example (e) find P (G|N') from the table and by using the formula of conditional probability.

4. Exercise 1 and 2 in page 26

Exercise 1. The probability is 0.60 that a famous Nigerian distance runner will enter the Boston marathon. If he does not enter, the probability that last year's winner will repeat is 0.66, but if he enters, the probability that last year's winner will repeat is only 0.18. What is the probability that last year's winner will repeat?

Exercise 2. No diagnostic test is infallible, so imagine that the probability is 0.95 that a certain test will correctly diagnose a person with diabetes as being diabetic, and it is 0.05 that the test will incorrectly diagnose a person without diabetes as being diabetic. It is know that roughly 10% of the population is diabetic. Estimate the probability that a person diagnosed as being diabetic actually has diabetes. Use Bayes' theorem.

5. Exercise 3 in page 29

Exercise 3. Two ?rms A and B consider bidding on a road-building job that may or may not be awarded depending on the amount of the bids. Firm A submits a bid and the probability is ¾ that it will get the job provided ?rm B does not bid. The odds are 3 to 1 that B will bid, and if it does, the probability that A will get the job is only ?.

(a) What is the probability that A will get the job?

(b) If A gets the job, what is the probability that B did not bid?

6. Example 2 in page 27:

Example 2. Suppose that in a particular chest clinic 5% of all patients who have been to the clinic are ultimately diagnosed as having lung cancer, while 50% of patient are smokers. By considering the records of all patients previously diagnosed with lung cancer, we know that 80% were smokers. A new patient comes into the clinic. We discover this patient is a smoker. What we want to know is the probability that this patient will be diagnosed as having lung cancer.

7. Exercise 4 in page 29:

Exercise 4. In a cannery, assembly lines, I, II, and III account for 50, 30, and 20% of the total output. If 0.4% of the cans from assembly line I are improperly sealed, and the corresponding percentages for assembly lines II and III are 0.6% and 1.2%, what is the probability that an improperly can (discovered at the ?nal inspec?on of outgoing products) will have come from assembly line I ?

Section B - In reference to Example 6 in page 22 -

A black box contains five identical balls, two red, two blue and one white. Two balls are drawn at random (sequentially, one after the other).

B1. What is the probability that they will both be blue if

a) the first ball is put back before the second ball is drawn

b) the first ball is not put back before the second ball is drawn

B2. What is the probability that they will be the first red and second white if

a) the first ball is put back before the second ball is drawn

b) the first ball is not put back before the second ball is drawn.

Attachment:- Assignment.rar

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M92005600

Have any Question?


Related Questions in Statistics and Probability

Can anyone tell me how the margin of error and the level of

Can anyone tell me how the margin of error and the level of confidence are related to one another in statistics?

Timco is considering project a project a will cost 23000 it

Timco is considering project A. Project A will cost 23000. It should provide after tax cash inflows of 5000 per year for the next 6 years. The cost of funds is 10%. Find the MIRR. Should Timco buy it?

The following frequency table summarizes the distances in

The following frequency table summarizes the distances in miles of 100 patients from a regional hospital. Distance           Frequency 0-2                  30 2-4                  35 4-6                  20 6-8           ...

Suppose thatnbspx1nbspx2 nbspx100nbspis a sample from a

Suppose that  X 1 ,  X 2 , ...,  X 100  is a sample from a normal distribution whose  Sample Mean  has a  N (3,3) distribution. What is the population distribution? (note: specify parameters of the distribution)

Transaction costs you would like to purchase one class a

Transaction costs You would like to purchase on?e Class A share of Berkshire Hath-away through your Scottrade brokerage account. Scottrade charges a $7 commission for online trades. You log into your account, check the r ...

A pawnshop will lend 4750 for 45 days at a cost of 35

A pawnshop will lend $4,750 for 45 days at a cost of $35 interest. What is the effective rate of interest?  (Use a 360-day year. Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal ...

What is the business of wholesale banking in terms of its

What is the business of wholesale banking in terms of its Products and Services and its customer base? What are the key challenges in the wholesale banking market?

To finance additional inventory arbutus ltd is considering

To finance additional inventory, Arbutus Ltd. is considering forgoing the cash discount on all of its purchases presently offered on terms of 2/10, net 45. No payments will be stretched. Annual purchases are $9.21 millio ...

A community hospital wants to estimate the body mass index

A community hospital wants to estimate the body mass index (BMI) of its local population. To estimate the BMI with an error of at most 0.5 at a 95% confidence level, what sample size should they use? The standard deviati ...

Calculation of individual costs and wacc lang enterprises

Calculation of individual costs and WACC Lang Enterprises is interested in measur-ing its overall cost of capital. Current investigation has gathered the following data. The firm is in the 21% tax bracket. Debt The firm ...

  • 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