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# Probability

### subjective probability

1. Match each of these terms with one of the phrases below. Terms: a. sample space b. events c. complement d. subjective probability e. outcomes f. theoretical probability g. trials Phrases: 1. deduced from analysis of all possible outcomes 2. the set of all possible outcomes 3. repetitions of a probability experimen

### Probability 2: Qualitative Data of 10 Observations

Your specific assignment for this week is to select a type of quantitative data to collect from your own life. Some examples of data to collect could be: How long it takes to drive to work each day. How many hours of TV shows you watch each day. Number of phone calls you get each day. In a brief paper, describe the

### Probability

Solve the following problems showing your work: 1. Suppose you have 4 nickels, 6 dimes, and 4 quarters in your pocket. If you draw a coin randomly from your pocket, what is the probability that a. You will draw a dime? b. You will draw a nickel? c. You will draw a quarter? 2. You are rolling a pair of d

### Expected Value Problem

There are 7 prisoners, and 7 rooms each with a switch. Assume all switch are off at first. Now there is a fair coin in each room. Each prisoner goes to each room and flips the coin. If the coin comes up heads, prisoner changes the state of the switch. Else, prisoner moves to the next room and repeats. What is the average numb

### Conditional Probability Overview

See the attached file. A school principal is looking at the combination of subjects students are studying. He learns that the probability that a student is studying Chemistry is 0.5 and that the probability that a student is studying Physics is 0.1. He has also found that the probability that a student is studying Chemist

### binomial and combinatorial probability

An engineer has 200 resistors that he keeps in one box. Resistors are colored to help their identification, and in this box there are 30 white resistors, 50 black resistors, 80 red resistors and 40 green resistors. (a) If he chooses one resistor from this box without looking what is the probability that the resistor is eithe

### College Mathematics

Exercises on Sets 1. Please provide a short definition of the following: a. Set b. Subset c. Proper Subset d. Complement of a set e. Union of a set f. Intersection of a set Solve following problems showing your work: 2. Set X = {3, 7, 11, 21, 39, 43, 567}, Set Y = {1, 3, 6, 8, 11, 42, 567}

### Joint Probability Shown

Please give step-by-step process for solving the following problem. Suppose that X and Y are continuous random variables with joint pdf (probability distribution function) fXY(x,y) = kx^2y, when 0 < x < y < 1, 0, otherwise. (a) Determine the value of k. (b) Find P(X+Y > 1).

### Exponential Distribution: Probability distribution function

Please give step-by-step process for solving the following probability problems. Let X ~ Exp(lamda1) and that Y ~ Exp(lambda2). Further assume that X and Y are independent. (a) Write down the joint pdf (probability distribution function) of X and Y, fXY(x,y). (b) For t > 0, prove that P(Y < tX) = t lambda2 / ( lambda1 +

### Stock Probability

Please explain how to solve this problem. An investment advisor recommends the purchase of shares in Probaballisitics, Inc.. He has made the following predictions: P(Stock goes up 20% | Rise in GDP) = .6 P(Stock goes up 20% | Level GDP) = .5 P(Stock goes up 20% | Fall in GDP) = .4 An economist has predicted that the p

### Biased Bernoulli Process

Suppose that two teams that meet in the world series are closely matched: the better team wins a given game with a probability of .55. What is the probability that the better team will win the World Series? Treat the games as tosses of a biased coin. Express the event "the better team wins" in terms of elementary Bernoulli event

### probability of a company's stock price

The average stock price for companies making up the S&P 500 is \$30,and the standard deviation is \$8.20. Assume the stock prices are normally distributed. a. What is the probability that a company will have a stock price of at least \$40? b. What is the probability that a company will have a stock price no higher than \$20?

### Poisson arrival, Exponential service time

The Friendly Neighbor Grocery Store has a single checkout stand with a full-time cashier. Customers arrive randomly at the stand at a mean rate of 30 per hours. The service-time distribution is exponential, with a mean of 1.5 minutes. This situation has resulted in occasional long lines and complaints from customers. Therefore,

### Sets and probability of marble drawn from a box

28. A marble is drawn from a box containing 3 yellow, 4 white, and 8 blue marbles. Find the odds in favor of drawing the following. a. A yellow marble b. A blue marble c. A white marble If two cards are drawn without replacement from an ordinary deck, find the probabilities of the following results 8. The second is blac

### From a Probability and Statistics math class

5. The fracture strength of tempered glass averages 14 (measured in thousands of pounds per square inch) and has standard deviation 2. a. What is the probability that the average fracture strength of 100 randomly selected pieces of this glass exceeds 14.5? b. Find an interval that includes, with probability 0.95, the avera

### Expected Cash Flow and Net Present Value

Cooper Construction is considering purchasing new, technologically advanced equipment. The equipment will cost \$625,000 with a salvage value of \$50,000 at the end of its useful life of 10 years. The equipment is expected to generate additional annual cash inflows with the following probabilities for the next ten years: Proba

### Statictis Problems

These are some of the questions I've run into and need help for. I'm unable to solve some of these problems. I'm studying for my final next week and I'm preparing for that. 7.16 Daily output of Marathon's Garyville, Louisiana, refinery is normally distributed with a mean of 232,000 barrels of crude oil per day with a s

### Probablity

1. Suppose you have 4 nickels, 6 dimes, and 4 quarters in your pocket. If you draw a coin randomly from your pocket, what is the probability that a. You will draw a dime? b. You will draw a nickel? c. You will draw a quarter? 2. You are rolling a pair of dice, one red and one green. What is the probability of

### Probability Questions Described

Using a deck of 52 cards (13 red numbered 1-13, 13 blue numbered 1-13, 13 green numbered 1-13 and 13 black numbered 1-13): 1. describe the steps neccessary to calculate the theroretical probability of a) drawing 2 red cards one after another (with replacement)from a given deck b) drawing 3 cards with the same value withou

### Small questions

1. A particular spell has a .18 (i.e. 18%) chance to do critical damage. What is the probability that a spell can be cast 10 times in a row without doing critical damage? A) .137 B) .820 C) .862 D) <.001 2. What is the probability of the sum of two dice equaling an odd number? A) .50 B) .38 C) .25 D) .61 3. A coin

### Probability

Suppose that you select 2 cards without replacement from an ordinary deck of playing cards. a. If the first card that you select is a king, what is the probability that the second card that you select is a heart? b. If the first card that you select is a heart, what is the probability that the second card that you select

### Probability: Problems and Solutions

1. How many ways are there of drawing a red, a black, and a green ball from a bucket with 2-Red, 2-Black, and 5-Green balls? 2. What is the probability of drawing exactly one ball of each color if you select 3 balls from the bucket above?

### Probability

Employees of a company fall into four categories: Managers (4%), Administrators (12%), Technicians (26%) and Labourers (58%). If 20% of the Managers, 5% of the Administrators, 3% of the Technicians and 0.5% of the Labourers have the opportunity of promotion in the next year: (i) What is the probability that a randomly chose

### Premutations, probability, variance, data display

Please make examples thorough enough at least 100 words each response. In your own words what is the difference between permutations and combinations? I need 3 real world examples of where order matters in a choice â?¦.and have to make and 3 examples of choices where order does not matter. What are some of the benefits

### Probability Question

Topic 18 Exp 3 The following table contains information on the 2002 resident population of the U.S., by age. (Source: The New York Times Almanac 2004, page 277.)

### Probability in a Multiple Choice Quiz

Cass is taking a 5 question multiple-choice quiz in which each question has 3 choices. He guesses o all of the questions. (a) What is the probability that Cass answers all of the questions correctly? (B) What the probability that he answers 3 questions correctly?

### Probability questions

7. Suppose that you are dealt a hand of 9 cards from a standard deck of 52 playing cards. a. What is the probability that you are dealt exactly 3 kings? b. What is the probability that you are dealt 9 cards of the same suit? c. What is the probability that you are not dealt at least 2 cards of each suit? 11.

### Determining Probability: Diagnostic Test for Cancer

Suppose that there is a diagnostic test for a particular type of cancer. Given that the person has this type of cancer, the probability that the test would be positive is 95%. However, if the person does not have this type of cancer, then the probability that the rest will be positive is 1%. Suppose that 2% of the population hav

### Standard Deviation Probability

The probability that a certain basketball team will win a given game is .62. If the team plays 50 games, find the expected number of wins and the standard deviation. (Round to the nearest hundredth if necessary.)

### Decision Analysis

1. The following payoff table shows profit for a decision analysis problem with two decision alternatives and three states of nature: State of Nature Decision Alternative S1 S2 S3 D1 250 100 25 D2 100 100 75 A. Construc