Finance : Combinations, Interest, Annuities and Loans

1) An admissions test given by a university contains 10 true-false questions. Eight or more of the questions must be answered correctly in order to be admitted. a) How many different ways can the answer sheet be filled out? b) How many different ways can the answer sheet be filled out so that 8 or more questions are answere ...continues

Systems of Linear Equations : 10 Examples, Equalities, Inequalities and Optimizations

Find the solution, if it exists, to this system of linear equations: x + 2y – z = -4 3x + 7y – 6z = -21 x + 4y – 6z = -17 Find the solution, if it exists, to this system of linear equations: x – z = 2 2x - y = 4 x + y + z = 6 A cookie company makes three kinds of cookies, oatmeal raisin, cho ...continues

Probability: Real World Problem Involving Random Selection

Lucky Charms has one of six different watches for prizes inside their box of cereal. If you were to purchase 60 boxes, what are the chances that you will collect all six? If you and 10 of your friends were to go purchase 10 boxes each how greater would your chances be?

Six Probability Problems

1) In a survey of 125 college students, it was found that of three newspapers, the Wall Street Journal, New York Times, and Chicago Tribune: 60 read the Chicago Tribune 40 read the New York Times 15 read the Wall Street Journal 25 read the Chicago Tribune and New York Times 8 read the New York Times and Wall Street Journa ...continues

Probability : Random Selection

Three enevelopes are addressed for 3 secret letters written in invisible ink. A secretary randomly places each of the letters in an envelope and mails them. What is the probability that at least 1 person receives the correct letter?

Probability

In one math class of college there aer 10 males and 20 females. The professor makes 3 student teams to work on a group project. A) How many possible teams can be made? B) What is a probability that 2 females and 1 male will be in a group? C) What is a probability of 3 females only? D) What is a probabilty at least 2 ...continues

Probability, solve using methods of probability in a poker game

Poker, in the deck 52 cards, hand of 5 cards, one of the winning hands is flush, all cards belong to a common suit. A) Calculate the number of possible combinations of poker hands B) Calculate a probabilty of flush C) Calculate a probabilty of getting 4 aces on one hand D) calculate a probabilty of getting 2 aces or ...continues

Probabilty: solve using Bayes Theorem

An admissions committee must select students for an MBA program. Past data show that 70% of students complete (C) the program. It is also known that 50% of the graduating students scored above 500 (A) on the GMAT test. While 20% of the dropouts (D) scored that well. Consider a new MBA student. A) What is the prior probabilty ...continues

Probability: bernoulli trial model

Use the Bernoulli model to solve: A) Calculate probabilites of gettin from 0 to 5 clubs on a hand B) What is the probabilty of gettin 2 or fewer cubs of 5 cards?

Normal Distrubution

An airline wants to find out how long it takes for a travel agent to complete an airline ticket order from a computer terminal. Assume that the mean transaction time is 150 seconds. also assume that the population of transaction times has normal frequency curve. Find the probability that the 150 and 175 seconds to complete if s ...continues