Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Business Economics Expert

Economics


Home >> Business Economics

Susie is looking for butterflies in an area where:

15% of the butterflies are of type A

20% of the butterflies are of type B

65% of the butterflies are of type C

Suppose that she spots two butterflies on her walk, and that the types of the two butterflies are independent from each other (perhaps because they are spotted in different locations).

(a) What is the probability that the two butterflies she spots will both be type A butterflies?

(b) What is the probability that the two butterflies she spots will be of the same type?

(c) What is the probability that neither of the two butterflies she spots will be type C butterflies?

A survey is being conducted in a county where 58% of the voters are Democrats and 42% are Republican.

(c) What is the probability that one would be a Democrat and one a Republican?

Suppose that two teams called the Bears and Wildcats are in a playoff series where the first team to win 3 games wins the series. For each game they play, the probability that the Bears win is 0.6 and the probability the Wildcats win is 0.4.

(e) What is the probability that the Bears win the series in exactly 5 games? 

(f) What is the probability that the Wildcats win the series in exactly 5 games? 

(g) What is the probability that the Bears win the series (i.e. the Bears win but we don't care how many games are required)? 

(h) What is the probability that the Wildcats win the series?

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M92782371
  • Price:- $20

Priced at Now at $20, Verified Solution

Have any Question?


Related Questions in Business Economics

A certain device is used to determine the sex of an unborn

A certain device is used to determine the sex of an unborn baby, but the device is not very reliable. If the fetus is truly a boy, the device says BOY with probability 0:8 (but, mistakenly, GIRL with probability 0:2). If ...

Mathew and susan are both optimizing consumers in the

Mathew and Susan are both optimizing consumers in the markets for shirts and hats, where they pay $100 for a shirt and $50 for a hat. Matthew buys 4 shirts and 16 hats, while Susan buys 6 shirts and 12 hats. From this in ...

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 ...

The attractiveness of a country as a market or investment

The attractiveness of a country as a market or investment site depends on balancing the likely long-term benefits of doing business there, against the likely costs and risks. What do you consider are the determinants of ...

What type of exchange rate is associated with a higher

What type of exchange rate is associated with a higher probability of experiencing a crisis? Why?

How does health insurance coverage affect the incentive to

How does health insurance coverage affect the incentive to reduce medical expenses? For the insured person? For the provider of services? What happens to the incentive to hold down medical expenses once the initial insur ...

The often made statement that inflation greases the wheels

The often made statement that inflation? "greases the wheels of the labor? market" means simply that A. high and unanticipated inflation allows for real wage adjustments when nominal wages are? sticky, thereby permitting ...

Suppose that the fair work commission imposes a minimum

Suppose that the Fair Work Commission imposes a minimum wage of $19 per hour. (i) How many hours of employment are exchanged in the market? Below is related information: Assume that the market for unskilled labour in Aus ...

Of all the companies on the new york stock exchange profits

Of all the companies on the New York Stock Exchange, profits are normally distributed with a mean of $6.54 million and a standard deviation of $10.45 million. In a random sample of 73 companies from the NYSE, what is the ...

Global poverty is an international issue other countries

Global poverty is an international issue. Other countries are inclined to look to the U.S. with its great wealth to take an active role in assisting poor nations. People here spend money trying to counter baldness while ...

  • 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

Follow Us

© Copyright 2013-14 mywordsolution.com All rights reserved