A survey of Probability Exercise Solution Download | Statistical Technique in Business & Economics(1-10) | Lind/Marchal/Wathen

A Survey of Probability Exercise Solution Free Download:-

Here , I have uploaded:- Self Test solution, Exercises Solution, Example.

Question 1,2

1. Some people are in favor of reducing federal taxes to increase consumer spending and others are against it. Two persons are selected and their opinions are recorded. Assuming no one is undecided, list the possible outcomes.

2. A quality control inspector selects a part to be tested. The part is then declared acceptable, repairable, or scrapped. Then another part is tested. List the possible outcomes of this experiment regarding two parts...?

Solution  :-

Question 5,6,7

5. a.In each of the following cases, indicate whether classical, empirical, or subjective probability is used. a. A baseball player gets a hit in 30 out of 100 times at bat. The probability is .3 that he gets a hit in his next at bat.

b. A seven-member committee of students is formed to study environmental issues. What is the likelihood that any one of the seven is randomly chosen as the spokesperson?

c. You purchase 1 of 5 million tickets sold for Lotto Canada. What is the likelihood you will win the $1 million jackpot?

d. The probability of an earthquake in northern California in the next 10 years above 5.0 on the Richter Scale is .80.

6. A firm will promote two employees out of a group of six men and three women.

a. List all possible outcomes.

b. What probability concept would be used to assign probabilities to the outcomes?

7. A sample of 40 oil industry executives was selected to test a questionnaire. One question about  environmental Issues required a yes or no answer.

a. What is the experiment?

b. List one possible event.

c. Ten of the 40 executives responded yes. Based on these sample responses, what is the probability that an oll Industry executive will respond yes?

d. What concept of probability does this illustrate?

e. Are each of the possible outcomes equally likely and mutually exclusive?

Question 8,9,10