Probability
Not what you're looking for?
The probability
--------------------------------------------------------------------------------
1) A very rich investor has a small amount of spare cash which she wishes to invest. She has four options to choose from. She thinks company 1 has a 43% chance of giving her a return of $327, otherwise she believes it will lose her $296. She thinks company 2 has a 81% chance of giving her a return of $228, otherwise she believes it will lose her $1043. She thinks company 3 has a 46% chance of giving her a return of $181, otherwise she believes it will lose her $187. She thinks company 4 has a 33% chance of giving her a return of $705, otherwise she believes it will lose her $205. Based on these opinions, which company should she invest in?
2) In a certain mining town there are 3 times as many men as women. 64% of the men and 28% of the women attend the weekly football match. During half time a ticket is selected and the holder of that ticket is selected to win a prize. What is the probability that the holder of the winning ticket is a woman?
Purchase this Solution
Solution Preview
1) Need to use the formula for calculating expected return:
EXPECTED RETURN = POTENTIAL RETURN* PROBABILITY OF ...
Purchase this Solution
Free BrainMass Quizzes
Terms and Definitions for Statistics
This quiz covers basic terms and definitions of statistics.
Know Your Statistical Concepts
Each question is a choice-summary multiple choice question that presents you with a statistical concept and then 4 numbered statements. You must decide which (if any) of the numbered statements is/are true as they relate to the statistical concept.
Measures of Central Tendency
This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.
Measures of Central Tendency
Tests knowledge of the three main measures of central tendency, including some simple calculation questions.