Exam 7: Randomness and Probability

Use the appropriate probability model (Poisson). -Suppose you visit Stickler's bicycle shop in the hopes of getting a 100% discount on your purchases. As you wait your turn in line, there are three gold winners in a row. The two customers in line behind you begin to discuss what's happened. One believes that the streak of three gold winners has killed anyone else's chances of getting a 100% discount, while the other says just the opposite… that the wheel's "hot streak" increases their chances of getting a 100% discount. Comment on these opinions.

Use the addition rule or the multiplication rule for probability. -As an incentive to get new customers, the local branch of a bank launched "bouncing For bucks." During this week long event, any customer opening a new checking account With the bank would have the opportunity to throw a bouncy rubber ball into a large box Divided into squares. Each square was labeled with a dollar amount that would be Deposited into his / her new checking account. The way the box was labeled is shown Below. Out of the next three customers that come into the bank and play the game, what Is the probability that at least one gets $50? 10 30 10 30 10 20 10 50 10 20

Use the addition rule or the multiplication rule for probability. -It has been reported that men are more likely than women to participate in online Auctions. In a recent survey, 65% of respondents reported that they had participated in an Online auction. In this same survey, 45% of respondents were men and 38% were men Who had participated in online auctions. What is the probability that a respondent Selected at random is female and has never participated in an online auction?

Use the addition rule or multiplication rule for probability. -A recent survey of local cell phone retailers showed that of all cell phones sold last Month, 64% had a camera, 28% had a music player and 22% had both. The probability That a cell phone sold last month had a camera or a music player is

Use the addition rule or multiplication rule for probability. -A recent survey of local cell phone retailers showed that of all cell phones sold last Month, 64% had a camera, 28% had a music player and 22% had both. The probability That a cell phone sold last month did not have either a camera or a music player is

As an incentive to get new customers, the local branch of a bank launched "bouncing for bucks." During this week long event, any customer opening a new checking account with the bank would have the opportunity to throw a bouncy rubber ball into a large box divided into squares. Each square was labeled with a dollar amount that would be deposited into his / her new checking account. The way the box was labeled is shown below. 10 30 10 30 10 20 10 50 10 20 a. What is the probability that a customer gets $20 or more? b. What is the probability that a customer gets less than $20? c. What is the probability that a customer gets $20 or $30? d. What is the probability that two customers in a row get $50?

Does it appear that choice of instructional method (traditional or online) and division (sales, quality and operations) are independent? Explain.

The option to buy extended warranties is commonplace with most electronics purchases. But does the type of purchase affect a consumer's willingness to pay extra for an extended warranty? Data for 420 consumers who purchased digital cameras and laptop computers from a leading electronics retailer are summarized in the table. a. What is the probability that a consumer purchases an extended warranty? b. What is the probability that a consumer purchases a digital camera and an extended warranty? c. What is the probability that a consumer purchases an extended warranty given that he / she has purchased a digital camera?