Exam 6: Probability

Drunk Drivers Six hundred accidents that occurred on a Saturday night were analyzed.Two items noted were the number of vehicles involved and whether alcohol played a role in the accident.The numbers are shown below: -{Drunk Drivers Narrative} Given alcohol was involved, what proportion of accidents involved a single vehicle?

Which of the following is a requirement of the probabilities assigned to outcome O_i?

Financial Consultants A Financial Consultant has classified his clients according to their gender and the composition of their investment portfolio (primarily bonds, primarily stocks, or a balanced mix of bonds and stocks).The proportions of clients falling into the various categories are shown in the following table: One client is selected at random, and two events A and B are defined as follows: A: The client selected is male. B: The client selected has a balanced portfolio. -{Financial Consultants Narrative} Find the following probabilities: a. P(A) b. P(B)

Bayes' Law involves three different types of probabilities: 1) ____________________ probabilities; 2) likelihood probabilities; and 3) posterior probabilities.

The ____________________ of two events A and B is the event that occurs when either A or B or both occur.

GPA and Class A college professor classifies his students according to their grade point average (GPA) and their class rank.GPA is on a 0.0-4.0 scale, and class rank is defined as the under class (freshmen and sophomores) and the upper class (juniors and seniors).One student is selected at random. -{GPA and Class Narrative} What is the probability that the student is in the upper class and has GPA under 2.0?

An approach of assigning probabilities which assumes that all outcomes of the experiment are equally likely is referred to as the:

A sample space of an experiment consists of the following outcomes: 1, 2, 3, 4, and 5.Which of the following is a simple event?

The probability of an intersection of two events is called a(n) ____________________ probability.

A(n) ____________________ is a collection or set of one or more simple events in a sample space.

Messenger Service Three messenger services deliver to a small town in Oregon.Service A has 60% of all the scheduled deliveries, service B has 30%, and service C has the remaining 10%.Their on-time rates are 80%, 60%, and 40% respectively.Define event O as a service delivers a package on time. -{Messenger Service Narrative} If a package was delivered 40 minutes late, what is the probability that it was service A?

If A and B are mutually exclusive events, with P(A) = 0.20 and P(B) = 0.30, then the probability that both events will occur simultaneously is:

The union of events A and B is the event that occurs when either A or B occurs but not both.

A random experiment is an action or process that leads to one of several possible ____________________.

The second set of branches of a probability tree represent ____________________ probabilities.

If events A and B are independent then:

No matter which approach was used to assign probability (classical, relative frequency, or subjective) the one that is always used to interpret a probability is the ____________________ approach.

If two events are collectively exhaustive, what is the probability that both occur at the same time?

The outcomes of a sample space must be ____________________ and ____________________.

Financial Consultants A Financial Consultant has classified his clients according to their gender and the composition of their investment portfolio (primarily bonds, primarily stocks, or a balanced mix of bonds and stocks).The proportions of clients falling into the various categories are shown in the following table: One client is selected at random, and two events A and B are defined as follows: A: The client selected is male. B: The client selected has a balanced portfolio. -{Financial Consultants Narrative} Express each of the following probabilities in words: a. P(A|B) b. P(B|A)