Uncategorized

Statistics and Econ Research Paper

Statistics and Econ Research Paper

1) The sample space contains 6(A)s and 4(B)s. What is the probability that a randomly selected set of 3 will include 1A and 2 Bs? 2) In a city of 120,000 people there are 20,000 Norwegians. What is the probability that a randomly selected person from the city will be Norwegian? 3) In a city of 180,000 people there are 20,000 legal immigrants from Latin America. What is the probability that a random sample of two people from the city will contain two legal immigrants from Latin America? 4) A corporation just received new machinery that must be installed and checked before it becomes operational. The accompanying table shows a managers probability assessment for the number of days required before the machinery becomes operational. Number of Days 3 4 5 6 7 Probability .08 .24 .41 .20 .07 Let A be the event It will be more than 4 days before the machinery becomes operational?, and let B be the event It will be less than 6 days before the machinery becomes operational?. a) Find the probability of event A. b) Find the probability of event B. c) Find the probability of the complement of Event A. d) Find the probability of the intersection of events A and B. e) Find the probability of the union of events A and B. 5) The probability of A is .60, the probability of B is .45, and the probability of either is .80. What is the probability of both A and B? 6) A mail-order form considers three possible events in filing an order: a) The wrong item is sent. b) The item is lost in transit. c) The item is damaged in transit. Assume that A is independent of both B and C and that B and C are mutually exclusive. The individual event probabilities are P(A) = .02, P(B) = .01, and P(C) = .04. Find the probability that at least one of these foul-ups occurs for a random chosen order. 7) Suppose you are dealt two cards from a standard deck of playing cards. a) What is the probability of being dealt a pair of aces? b)There are 13 possible pairs possible (Aces through Kings). What is the probability of being dealt a pair of any type (That is, the probability of a pair of Aces OR 2s OR 3s, etc?)? c) What is the probability of being dealt two cards of the same suit? d) What is the probability of being dealt any two cards greater than a 10? This includes Jacks, Queens, Kings, and Aces.

Is this the question you were looking for? If so, place your order here to get started!

×