Plan to buy Intentions of consumers regarding future automobile purchases and the financial capability of the consumers are given below: \[\begin{array}{l} \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \text { Plan to buy }\\ \begin{array} { | c | c c c | } \hline \begin{array} { c } \text { Qualify for } \\ \text { Financing } \end{array} & \begin{array} { c } \text { Within 6 months } \\ ( \mathrm { A } ) \end{array} & \begin{array} { c } \text { 6 months or longer } \\ ( \mathrm { B } ) \end{array} & \begin{array} { c } \text { No } \\ \text { (C) } \end{array} \\ \hline \text { Yes (D) } & 0.30 & 0.20 & 0.10 \\ \text { No (E) } & 0.10 & 0.10 & 0.20 \\ \hline \end{array} \end{array}\] -For a randomly selected consumer,find the following probability: P(A / D).

The answer of Plan to buy Intentions of consumers regarding future...

Event 1 The prior probabilities of events AS1U1B11S1U1B0,AS1U1B12S1U1B0,and AS1U1B13S1U1B0 are P(AS1U1B11S1U1B0)= .50,P(AS1U1B12S1U1B0)= .20 and P(AS1U1B13S1U1B0)= .30.The conditional probabilities of event B given AS1U1B11S1U1B0,AS1U1B12S1U1B0,and AS1U1B13S1U1B0 are P(B / AS1U1B11S1U1B0)= .40,P(B / AS1U1B12S1U1B0)= .50 and P(B / AS1U1B13S1U1B0)= .30. -Compute P(B).

The answer of Event 1 The prior probabilities of events AS1U1B11S1U1B0,AS1U1B12S1U1B0,and...

Candidate Six candidates for a new position of vice-president for academic affairs have been selected.Three of the candidates are female.The candidates' years of experience are as follows: \[\begin{array} { | c | c | } \hline \text { Candidate } & \text { Experience } \\ \hline \text { Female 1 } & 5 \\ \text { Female 2 } & 9 \\ \text { Female 3 } & 11 \\ \text { Male 1 } & 6 \\ \text { Male 2 } & 4 \\ \text { Male 3 } & 8 \\ \hline \end{array}\] Suppose one of the candidates is selected at random.Define the following events: A = person selected has 9 years experience. B = person selected is a female. -Find P(A / B).

The answer of Candidate Six candidates for a new position of...

Overtime hours A personnel manager is reviewing number of overtime hours worked by employees in her plant.She has compiled the following data: \[\begin{array} { | c | c | c | } \hline \begin{array} { c } \text { Number. of Overtime } \\ \text { Hours Worked } \end{array} & \begin{array} { c } \text { No. of Employees } \\ \text { (Frequency) } \end{array} & \begin{array} { c } \text { Probability } \\ \text { P(x) } \end{array} \\ \hline 0 & 12 & 0.128 \\ 3 & 18 & 0.191 \\ 4 & 10 & 0.106 \\ 5 & 13 & 0.138 \\ 6 & 15 & 0.160 \\ 7 & 12 & 0.128 \\ 8 & 14 & 0.149 \\ \hline \text { Total } & 94 & 1.000 \\ \hline \end{array}\] For a randomly selected employee let X be the number of overtime hours worked,and define the following events: A = employee who works no overtime. B = employee who works at least 7 hours overtime. C = employee who works at most 4 hours overtime. -Determine the probability of event C.

The answer of Overtime hours A personnel manager is reviewing number...

Burger Queen Co. The Burger Queen Company has 124 locations along the west coast.The general manager is concerned with the profitability of the locations compared with major menu items sold.The information below shows the number of each menu item selected by profitability of store. \[\begin{array} { | c | c c c c c | c | } \hline \text { Profit } & \begin{array} { c } \text { Baby Burger } \\ \text { MI } \end{array} & \begin{array} { c } \text { Mother Burger } \\ \boldsymbol { M 2 } \end{array} & \begin{array} { c } \text { Father } \\ \text { Burger } \boldsymbol { M 3 } \end{array} & \begin{array} { c } \text { Nachos } \\ \text { M4 } \end{array} & \begin{array} { c } \text { Tacos } \\ \boldsymbol { M S } \end{array} & \text { Total } \\ \hline \text { High Profit } R I & 250 & 424 & 669 & 342 & 284 & 1969 \\ \text { Medium Profit } R 2 & 312 & 369 & 428 & 271 & 200 & 1580 \\ \text { Low Profit } R 3 & 289 & 242 & 216 & 221 & 238 & 1206 \\ \hline \text { Total: } & 851 & 1035 & 1313 & 834 & 722 & 4755 \\ \hline \end{array}\] -If a menu order is selected at random,describe the following in words. A)P(M5) B)P(R3) C)P(R2 and M3) D)P(M2 / R2) E)P(R1 / M4)

Probability of tacos being ordered.; Pro

Telephone survey A political telephone survey of 360 people asked whether they were in favor or not in favor of a proposed law.Each person was identified as either Republican or Democrat.The results are shown in the following table: \[\begin{array} { | l | c | c | c | c | } \hline \text { Party } & \text { In Favar } & \text { Nat in Favar } & \text { Undecided } & \text { Tatal } \\ \hline \text { Republican } & 98 & 54 & 4 \square & 192 \\ \hline \text { Democrat } & 79 & 29 & 60 & 168 \\ \hline \text { Tatal } & 177 & 83 & 100 & 360 \\ \hline \end{array}\] -What is the probability that a randomly selected respondent was a Republican and undecided about the proposed law?

The answer of Telephone survey A political telephone survey of 360...

Gulf Coast A Gulf Coast travel park has the following accommodations: \[\begin{array}{l} \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \text { Number of bedrooms }\\ \begin{array} { | l | c | c | c } \hline \text { Location } & \text { 3 Gedranm } & \text { 4 Gedranm } & \text { Tatal } \\ \hline \text { Beach Frant } & 17 & 24 & 41 \\ \hline \text { Nan Beach Frant } & 6 & 210 & 216 \\ \hline \text { Tatal } & 23 & 234 & 257 \\ \hline \end{array} \end{array}\] -What is the probability of selecting a beachfront site?

The answer of Gulf Coast A Gulf Coast travel park has...

Exam 5: Probability: Review of Basic Concepts

Dormitory A dormitory has two activating devices in each fire detector.One is smoke activated and has a probability of .98 of sounding an alarm when it should.The second is a heat sensitive activator and has a probability of .95 of operating when it should.Each activator operates independently of the other.Presume a fire starts near a detector. -What is the probability that the detector will sound an alarm?

(Short Answer)

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Question 21

Plan to buy Intentions of consumers regarding future automobile purchases and the financial capability of the consumers are given below: Plan to buy Qualify for Financing Within 6 months () 6 months or longer () No (C) Yes (D) 0.30 0.20 0.10 No (E) 0.10 0.10 0.20 -For a randomly selected consumer,find the following probability: P(A / D).

(Short Answer)

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Question 22

If inspection finds the item to be defective,what is the revised probability that the item came from machine A?

(Essay)

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Question 23

Event 1 The prior probabilities of events A₁,A₂,and A₃ are P(A₁)= .50,P(A₂)= .20 and P(A₃)= .30.The conditional probabilities of event B given A₁,A₂,and A₃ are P(B / A₁)= .40,P(B / A₂)= .50 and P(B / A₃)= .30. -Compute P(B).

(Short Answer)

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Question 24

Candidate Six candidates for a new position of vice-president for academic affairs have been selected.Three of the candidates are female.The candidates' years of experience are as follows: Candidate Experience Female 1 5 Female 2 9 Female 3 11 Male 1 6 Male 2 4 Male 3 8 Suppose one of the candidates is selected at random.Define the following events: A = person selected has 9 years experience. B = person selected is a female. -Find P(A / B).

(Short Answer)

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Question 25

When the events within a set are both mutually exclusive and exhaustive,the sum of their probabilities is 1.0.

(True/False)

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Question 26

Portfolio Composition An investment firm has classified its 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: Partfolin Compasition Cender Ennds Stacks Galanced Mala 0.18 0.20 0.25 Female 0.12 0.05 0.20 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. -Find the following probabilities: A)P(A) B)P(B)

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Question 27

If Events A and B are not mutually exclusive,then the probability that one of the events will occur is represented by

(Multiple Choice)

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Question 28

In the classical approach,probability is the proportion of times an event is observed to occur in a very larger number of trials.

(True/False)

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Question 29

The classical approach describes a probability:

(Multiple Choice)

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Question 30

Overtime hours A personnel manager is reviewing number of overtime hours worked by employees in her plant.She has compiled the following data: Number. of Overtime Hours Worked No. of Employees (Frequency) Probability P(x) 0 12 0.128 3 18 0.191 4 10 0.106 5 13 0.138 6 15 0.160 7 12 0.128 8 14 0.149 Total 94 1.000 For a randomly selected employee let X be the number of overtime hours worked,and define the following events: A = employee who works no overtime. B = employee who works at least 7 hours overtime. C = employee who works at most 4 hours overtime. -Determine the probability of event C.

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Question 31

Appliance dealer An appliance dealer calculated the proportion of new dishwashers sold that required various numbers of service calls to correct problems during the warranty period.The records were: No. of service calls Relative frequency 0 0.25 1 0.38 2 0.30 3 0.04 4 0.03 -Let X be the number of service calls during the warranty period for a dishwasher.What is the probability that there will be at least one service call?

(Short Answer)

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Question 32

Burger Queen Co. The Burger Queen Company has 124 locations along the west coast.The general manager is concerned with the profitability of the locations compared with major menu items sold.The information below shows the number of each menu item selected by profitability of store. Profit Baby Burger MI Mother Burger Father Burger Nachos M4 Tacos Total High Profit RI 250 424 669 342 284 1969 Medium Profit R2 312 369 428 271 200 1580 Low Profit R3 289 242 216 221 238 1206 Total: 851 1035 1313 834 722 4755 -What item was the favorite in a medium profit store? What percentage of the time was this item selected?

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Question 33

Define marginal probability.

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Question 34

Burger Queen Co. The Burger Queen Company has 124 locations along the west coast.The general manager is concerned with the profitability of the locations compared with major menu items sold.The information below shows the number of each menu item selected by profitability of store. Profit Baby Burger MI Mother Burger Father Burger Nachos M4 Tacos Total High Profit RI 250 424 669 342 284 1969 Medium Profit R2 312 369 428 271 200 1580 Low Profit R3 289 242 216 221 238 1206 Total: 851 1035 1313 834 722 4755 -If a menu order is selected at random,describe the following in words. A)P(M5) B)P(R3) C)P(R2 and M3) D)P(M2 / R2) E)P(R1 / M4)

(Essay)

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Question 35

Burger Queen Co. The Burger Queen Company has 124 locations along the west coast.The general manager is concerned with the profitability of the locations compared with major menu items sold.The information below shows the number of each menu item selected by profitability of store. Profit Baby Burger MI Mother Burger Father Burger Nachos M4 Tacos Total High Profit RI 250 424 669 342 284 1969 Medium Profit R2 312 369 428 271 200 1580 Low Profit R3 289 242 216 221 238 1206 Total: 851 1035 1313 834 722 4755 -What item has the highest probability of being selected for any type store? What percentage of the time was this item selected?

(Short Answer)

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Question 36

Telephone survey A political telephone survey of 360 people asked whether they were in favor or not in favor of a proposed law.Each person was identified as either Republican or Democrat.The results are shown in the following table: Party In Favar Nat in Favar Undecided Tatal Republican 98 54 4\square 192 Democrat 79 29 60 168 Tatal 177 83 100 360 -What is the probability that a randomly selected respondent was a Republican and undecided about the proposed law?

(Short Answer)

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Question 37

Event 1 The prior probabilities of events A₁,A₂,and A₃ are P(A₁)= .50,P(A₂)= .20 and P(A₃)= .30.The conditional probabilities of event B given A₁,A₂,and A₃ are P(B / A₁)= .40,P(B / A₂)= .50 and P(B / A₃)= .30. -Apply Bayes' theorem to compute the posterior probability P(A₁ / B).

(Short Answer)

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Question 38

Event 1 The prior probabilities of events A₁,A₂,and A₃ are P(A₁)= .50,P(A₂)= .20 and P(A₃)= .30.The conditional probabilities of event B given A₁,A₂,and A₃ are P(B / A₁)= .40,P(B / A₂)= .50 and P(B / A₃)= .30. -Compute P(B and A₁).

(Short Answer)

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Question 39

Gulf Coast A Gulf Coast travel park has the following accommodations: Number of bedrooms Location 3 Gedranm 4 Gedranm Tatal Beach Frant 17 24 41 Nan Beach Frant 6 210 216 Tatal 23 234 257 -What is the probability of selecting a beachfront site?

(Short Answer)

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Question 40

If inspection finds the item to be defective,what is the revised probability that the item came from machine A?

Event 1 The prior probabilities of events A₁,A₂,and A₃ are P(A₁)= .50,P(A₂)= .20 and P(A₃)= .30.The conditional probabilities of event B given A₁,A₂,and A₃ are P(B / A₁)= .40,P(B / A₂)= .50 and P(B / A₃)= .30. -Compute P(B).

When the events within a set are both mutually exclusive and exhaustive,the sum of their probabilities is 1.0.

If Events A and B are not mutually exclusive,then the probability that one of the events will occur is represented by

In the classical approach,probability is the proportion of times an event is observed to occur in a very larger number of trials.

The classical approach describes a probability:

Define marginal probability.

Event 1 The prior probabilities of events A₁,A₂,and A₃ are P(A₁)= .50,P(A₂)= .20 and P(A₃)= .30.The conditional probabilities of event B given A₁,A₂,and A₃ are P(B / A₁)= .40,P(B / A₂)= .50 and P(B / A₃)= .30. -Compute P(B and A₁).

Gulf Coast A Gulf Coast travel park has the following accommodations: Number of bedrooms Location 3 Gedranm 4 Gedranm Tatal Beach Frant 17 24 41 Nan Beach Frant 6 210 216 Tatal 23 234 257 -What is the probability of selecting a beachfront site?

A Preview of Business Statistics

Visual Description of Data

Statistical Description of Data

Data Collection and Sampling Methods

Discrete Probability Distributions

Continuous Probability Distributions

Sampling Distributions

Estimation From Sample Data

Hypothesis Tests Involving a Sample Mean or Proportion

Hypothesis Tests Involving Two Sample Means

Analysis of Variance Tests

Chi-Square Applications

Nonparametric Methods

Simple Linear Regression and Correlation

Multiple Regression and Correlation

Model Building

Models for Time Series and Forecasting

Decision Theory

Total Quality Management

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Exam 5: Probability: Review of Basic Concepts

If inspection finds the item to be defective,what is the revised probability that the item came from machine A?

Event 1 The prior probabilities of events A1,A2,and A3 are P(A1)= .50,P(A2)= .20 and P(A3)= .30.The conditional probabilities of event B given A1,A2,and A3 are P(B / A1)= .40,P(B / A2)= .50 and P(B / A3)= .30. -Compute P(B).

When the events within a set are both mutually exclusive and exhaustive,the sum of their probabilities is 1.0.

If Events A and B are not mutually exclusive,then the probability that one of the events will occur is represented by

In the classical approach,probability is the proportion of times an event is observed to occur in a very larger number of trials.

The classical approach describes a probability:

Define marginal probability.

Event 1 The prior probabilities of events A1,A2,and A3 are P(A1)= .50,P(A2)= .20 and P(A3)= .30.The conditional probabilities of event B given A1,A2,and A3 are P(B / A1)= .40,P(B / A2)= .50 and P(B / A3)= .30. -Apply Bayes' theorem to compute the posterior probability P(A1 / B).

Event 1 The prior probabilities of events A1,A2,and A3 are P(A1)= .50,P(A2)= .20 and P(A3)= .30.The conditional probabilities of event B given A1,A2,and A3 are P(B / A1)= .40,P(B / A2)= .50 and P(B / A3)= .30. -Compute P(B and A1).

Gulf Coast A Gulf Coast travel park has the following accommodations: Number of bedrooms Location 3 Gedranm 4 Gedranm Tatal Beach Frant 17 24 41 Nan Beach Frant 6 210 216 Tatal 23 234 257 -What is the probability of selecting a beachfront site?

A Preview of Business Statistics

Visual Description of Data

Statistical Description of Data

Data Collection and Sampling Methods

Discrete Probability Distributions

Continuous Probability Distributions

Sampling Distributions

Estimation From Sample Data

Hypothesis Tests Involving a Sample Mean or Proportion

Hypothesis Tests Involving Two Sample Means

Analysis of Variance Tests

Chi-Square Applications

Nonparametric Methods

Simple Linear Regression and Correlation

Multiple Regression and Correlation

Model Building

Models for Time Series and Forecasting

Decision Theory

Total Quality Management

Filters

Event 1 The prior probabilities of events A₁,A₂,and A₃ are P(A₁)= .50,P(A₂)= .20 and P(A₃)= .30.The conditional probabilities of event B given A₁,A₂,and A₃ are P(B / A₁)= .40,P(B / A₂)= .50 and P(B / A₃)= .30. -Compute P(B).

Event 1 The prior probabilities of events A₁,A₂,and A₃ are P(A₁)= .50,P(A₂)= .20 and P(A₃)= .30.The conditional probabilities of event B given A₁,A₂,and A₃ are P(B / A₁)= .40,P(B / A₂)= .50 and P(B / A₃)= .30. -Compute P(B and A₁).