Exam 4: Introduction to Probability

The following probability distribution was subjectively assessed for the number of sales a salesperson would make if he or she made five sales calls in one day. When the salesperson makes a sale,there are three possible sales levels: large,medium,and small.The probability of a large sale is 0.20 and the chance of a medium sale is 0.60.The probability on a given day that the salesperson will make one sale and that it is medium is 0.09.

The Anderson Lumber Company has three sawmills that produce boards of different lengths.The following table is a joint frequency distribution based on a random sample of 1000 boards selected from the lumber inventory. Based on these data,if three boards are selected at random,the probability that all three were made at sawmill A is:

There are three general locations that a taxi can go to: the airport,downtown,and elsewhere.When a taxi driver starts in the downtown location,there is a 0.40 chance that his first call will take him to the airport and a 0.40 chance of going to another downtown location.Once a taxi is at the airport,there is a 0.80 probability that the next fare will take him downtown and a 0.20 chance of going elsewhere.The probability of a call from anywhere except downtown taking him to the airport is 0.20.Therefore,the probability that the taxi is at the airport when the third call arrives after going on shift is 0.20.

Hubble Construction Company has submitted a bid on a state government project that is to be funded by the federal government's stimulus money in Arizona.The price of the bid was predetermined in the bid specifications.The contract is to be awarded on the basis of a blind drawing from those who have bid.Five other companies have also submitted bids. What is the probability of the Hubble Construction Company winning the bid?

When customers come to a bank,there are three primary locations they may select to go to: teller,loan officer,or escrow department.Based on past experience,the following probability distribution applies: Seventy percent of customers are males.The probability that the next customer will be male and will go to either the teller or the escrow department is 0.49.