Exam 7: Randomness and Probability

During its grand opening week, Stickler's bicycle shop offers a "wheel of discount savings." After customers select the items they wish to purchase, they spin the wheel to Determine the discount they will receive.The wheel is divided into 12 slices.Six slices Are red and award a 10% discount, three slices are white and award a 20% discount, and Two slices are blue and award a 40% discount.The remaining slice is gold and awards a 100% discount! The probability that a customer gets a 10% or 20% discount 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.What is the probability that three customers in a row do not get $50?

As accounts manager in your company, you classify 75% of your customers as "good credit" and the rest as "risky credit" depending on their credit rating.Customers in the "risky" category allow their accounts to go overdue 50% of the time on average, whereas Those in the "good" category allow their accounts to become overdue only 10% of the Time.What percentage of overdue accounts are held by customers in the "risky credit" Category?

During its grand opening week, Stickler's bicycle shop offers a "wheel of discount savings." After customers select the items they wish to purchase, they spin the wheel to determine the discount they will receive.The wheel is divided into 12 slices.Six slices are red and award a 10% discount, three slices are white and award a 20% discount, and two slices are blue and award a 40% discount.The remaining slice is gold and awards a 100% discount! a.What is the probability that a customer gets at least a 40% discount? b.What is the probability that a customer does not get at least a 40% discount? c.What is the probability that a customer gets a 10% or 20% discount? d.What is the probability that two customers in a row get a 20% discount?

One explanation put forth for the dearth of women CEO's in the high tech industry is that there are a lack of mentoring opportunities for women.A recent survey of CEO's in that industry found that 80% were men.Moreover, 75% had been mentored while only 15% were women and had been mentored. a.Construct the contingency table. b.Are gender and mentoring independent? Explain.

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?

Suncast Cable offers high definition (HD) cable TV, Internet and phone services to its customers.For those service issues that can be resolved by calling its technical support Center, Suncast's goal is to have the problem solved within 30 minutes.In order to Determine how well it is achieving this goal, they monitored calls to its technical support Center over the last three months.The data compiled is shown in the table below.What Is the probability that a call to the technical support center involved an issue with Internet Service?

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.Which Of the following statement is true?

Suncast Cable offers high definition (HD) cable TV, Internet and phone services to its customers.For those service issues that can be resolved by calling its technical support Center, Suncast's goal is to have the problem solved within 30 minutes.In order to Determine how well it is achieving this goal, they monitored calls to its technical support Center over the last three months.The data compiled is shown in the table below.If Suncast wished to determine probabilities using these data, what type of probability Would it be calculating?