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RESPONSE:

1. Discuss the three types of probability and the three assumptions underlying the probability theory.

There are types and approaches to probability, and some authors refer to both as types, so I will provide both the three types and three approaches for you to consider based on your course content.

A. Three types of probabilities are as follows:

1). Marginal Probability:

A marginal probability is usually calculated by dividing some subtotal by the whole. For example, the probability of a person wearing glasses is calculated by dividing the number of people wearing glasses by the total number of people. Marginal probability is denoted P(X), where X is some event.

2). Union Probability:

A union probability is denoted by P(X or Y), where X and Y are two events. P(X or Y) is the probability that X will occur or that Y will occur or that both X and Y will occur. The probability of a person wearing glasses or having blond hair is an example of union probability. All people wearing glasses are included in the union, along with all blondes and ...

Solution Summary

This solution discusses the three types of probability and the three assumptions underlying the probability theory.

All Seasons Plumbing has two service trucks which frequently break down. If the probability the first truck is available is .75, the probability the second truck is available is .50, and the probability that both trucks are available is .30, what is the probability neither truck is available?

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Why is this important?
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Let (S, E, P) be a probability space.
(a) Let A <- E be an event such that P(A) = 0. Does it follow that A = PHI? If not, what can you say about A?
(b) Prove that if A, B <- E, then A INTERSECTION B <- E and A - B <- E.

1. There are two events A and B, both with nonzero probabilities. If the occurrence of
B makes occurrence of A more likely, is it ALWAYS true that the occurrence of A also
makes occurrence of B more likely? (hint: "B makes occurrence of A more likely" can be
represented as "P(A│B) > P(A)")
2. A parking lot consists o

1. The weight of a one cubic yard bag of landscape mulch is normally distributed with a mean of 40 pounds and a standard deviation of 2 pounds.
a. What is the probability that a bag will weigh less than 40 pounds?
b. What is the probability that a bag will weigh between 38 and 40 pounds?
2. Accord

How can you use probability theory to increase your odds of winning at Blackjack?
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