Exam 4: Introduction to Probability

A business statistics class roster includes 14 business major students and 21 students of another major. Sixteen students in this class are male. There are eight female business majors. What is the number of men in the class who are not business majors?

Exams are approaching and Helen is allocating time to studying for exams. She plays for the very successful women's lacrosse team and must schedule her studying around lacrosse practices and play-off games. She thinks that with the appropriate preparation, she has a 70% chance of getting an A in Marketing. She also believes that this chance will decrease to 60% if the lacrosse team makes the play-offs. Are getting an A on the exam and being in the lacrosse play-offs independent events? Show evidence of your response.

An investor in Apple is worried the latest management earnings forecast is too aggressive and the company will fall short. His favorite analyst that covers Apple is going to release his report on Apple the week before the earnings announcement. Report stands for the analyst's report, and Forecast stands for the earnings announcement. What is the probability the analyst issued a good report given Apple's earnings announcement was below the forecast?

How many project teams composed of five students can be created out of a class of 10 students, if each of the five students is assigned a specific position in each group such as president, vice president, secretary, treasurer and social coordinator?

The following table summarizes the ages of the 400 richest Americans. Suppose we select one of these individuals. Find the probability that the selected individual is at least 60 years old.

The following contingency table provides frequencies for the preferred type of exercise for people under the age of 35 and those 35 years of age or older. Here xx and yy represent missing values. Determine whether selecting an individual under 35 is independent of selecting an individual who prefers swimming.

Let P(A ∩B) = 0.3, and P(A ∩ B^c) = 0.15, and P(A^c ∩B) = 0.35. Compute PP(A^c ∩ B^c)

For an experiment in which a single die is rolled, the sample space may be {1, 1, 2, 3, 4, 5}.

An analyst expects that 10% of all publicly traded companies will experience a decline in earnings next year. The analyst has developed a ratio to help forecast this decline. If the company is headed for a decline, there is a 70% chance that this ratio will be negative. If the company is not headed for a decline, there is only a 20% chance that the ratio will be negative. The analyst randomly selects a company and its ratio is negative. Based on Bayes' theorem, the posterior probability that the company will experience a decline is ________.

Peter applied to an accounting firm and a consulting firm. He knows that 30% of similarly qualified applicants receive job offers from the accounting firm, while only 20% of similarly qualified applicants receive job offers from the consulting firm. Assume that receiving an offer from one firm is independent of receiving an offer from the other. What is the probability that both firms offer Peter a job?

The contingency table below provides frequencies for the preferred type of exercise for people under the age of 35 and those 35 years of age or older. Find the probability that an individual prefers running.

The intersection of two events A and B, denoted by A ∩ B, is the event consisting of all outcomes that are in A and B.

Mark Zuckerberg, the founder of Facebook, announced that he will eat meat only from animals that he has killed himself (Vanity Fair, November 2011). Suppose 257 people were asked, "Does the idea of killing your own food appeal to you, or not?" The accompanying contingency table, cross-classified by gender, is produced from the 187 respondents. The probability that a respondent to the survey is male is the closest to ________.

The intersection of two events is the event consisting of all outcomes in A ________ B.

A(n) ________ ________ of an experiment records all possible outcomes of the experiment.

An analyst has a limit order outstanding on a stock. He argues that the probability that the order will execute before the close of trading is 0.20. Thus, the odds for the order executing before the close of trading are

Assume the sample space S = {win, loss}. Select the choice that fulfills the requirements of the definition of probability.

In an experiment in which a coin is tossed twice, which of the following represents mutually exclusive and collectively exhaustive events?

Subjective probability is assigned to an event by drawing on logical analysis.

A sample space contains ________.