Exercise 5. One die is rolled. Find the probability of rolling a two given that an even number
has been rolled.

Exercise 6. In a small, rural town in Pennsylvania, 62% of the work force is classified as "blue collar". It is also known that 72% of the blue collar workers are dog owners and that 56% of the white collar workers are also dog owners.
a) Find the probability of randomly selecting a white collar worker form the work force of this town.
b) Find the probability of selecting a white collar worker given that the person selected is a dog owner.

Exercise 7. Forty honor society inductees must be arranged in rows of eight. How many different arrangements of the honor students are possible?

Exercise 8. A professor writes fifteen different essay questions for an upcoming exam.
a) If the exam is to be made up of only six of the essay questions, how many different ways can the questions be arranged?
b) If each student is instructed to choose four questions to answer, how many different four-question exams can be made?

Exercise 9: Testing a Claim:
The biogene research company claims that it has developed a technique for ensuring that a baby will be a girl. In a test of that technique, 12 couples all have baby girls. Find the probability of getting 12 baby girls b chance, assuming that boy s and girls are equally likely and that all the gender of any child is independent of the others. Does that result appear to support the company's claim?

Solution Summary

Neat and Step by step solutions are provided for all the questions.

After careful testing and analysis, an oil company is considering drilling in two different sites. It is estimated that site A will net $20 million if successful (probability .4) and lose $3 million if not (probability .6); site B will net $70 million if successful (probability .3) and lose $5 million if not (probability .7). Wh

The Ramshead Pub sells a large quantity of beer every Saturday. From the past sales records the pub has determined the following probabilities for sales. Compute the expected number of barrels that will be sold on Saturday.
Barrels Probability
6 .10
7

A contractor is considering a sale that promises a profit of $31,000 with a probability of 0.7 or a loss (due to bad weather, strikes, and such) of $13,000 with a probability of 0.3. What is the expected profit?

Based on past records, a salesman expects a $0 commission with probability 0.19, $1000 with probability 0.2, $2000 with probability 0.41 and $3000 or $4000 both with probability 0.1.
Find the expected commission for the salesman.

For a certain animal species, the probability that a female will have a certain number of offspring in a given year is given in the table below. Find the expected number of offspring per year.
Number of Offspring: 0
Probability: 0.31
Number of Offspring: 1
Probability: 0.21
Number of Offspring: 2
Probability: 0.19

-Provide one example to show how you can use the ExpectedValue computation to assess the fairness of a situation (probability experiment). Provide the detailed steps and calculations.
-Develop a tree diagram for tossing two, eight-sided gaming dice to figure out how many possibilities there are.
-Discuss the purpose of using

Consider the following probability distribution of returns for Alpha Corporation:
Current Stock Price ($25):
One Year ($) $35, $25, $20;
Return R: 40%, 0%, -20%;
Probability PR: 25%, 50%, 25%.
(A). Compute the expected return for Alpha Corporation.
(B). Compute the standard deviation of the return on Alpha Corporati

You know that there is a 40% probability that Microsoft will be selling for $22.50 three months from now and a 60% probability that it will be selling for $42.50. Microsoft does not pay a dividend. Currently, Microsoft is selling for $30. You are thinking of either buying 100 shares or selling short 100 shares. If you go lon