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Quantitative Methods - Probability Questions

1. The table below gives the qualification profile of the managers of a certain company:


MATRIC 26 12 10
DIPLOMA 18 20 6
DEGREE 6 8 14

What is the probability that a person selected randomly:
(show all work)

1.1 Has only matric?
1.2 Is a section head and has matric?
1.3 Is a department head given that the person has a diploma?
1.4 Has a diploma given that the person is a division head?

2. Based on past experience, 10% of the accounts of a large wholesale company are incorrect. If a random sample of 8 accounts is selected, what is the probability that at least two accounts are correct. (show all work)

3. The average number of claims per hour made to an insurance company is 1.2.

3.1 What is the probability that in a given hour no fewer than two claims are made? (show all work)
3.2 What is the probability that exactly three claims are made in 30 minutes? (show all work)

Solution Summary

This solution provides answers in Excel for various probability questions.