Ch 5, Profitability

Calculate the conditional probability that a country club member does not play tennis given that they do not play golf.

.5

Binary events are those that

Are mutually exclusive Are collectively exhaustive

Using the multiplication rule, the joint probability of event A and event B is computed by multiplying the conditional probability of event A given event B by the probability of

Event B

True or false: Define event A = {1, 2, 3, 4} and event B= {2, 3, 6, 7}. A u B= {2, 3}

False

True or false: The General Law of Multiplication is used to calculate the probability of the union of teo events.

False

The people who are involved in which of the following areas talk more commonly about odds rather than speaking of probability

Games of chance Sports

The multiplication rule used to calculate what type of probability?

Joint

A probability assigned by a person that is based on that person's judgment or experiences is a ______ probability

subjective

Which statement given below is correct?

A and B are dependent events because P(B I A) ≠ P(B) or 35/60 ≠ 85/120 A and B are dependent events because P(A I B) ≠ P (A) or 35/85 ≠ 60/120

The _____approach is assigning probability Is often used before we actually observe an experiment and often assumes each outcome is equally likely

Classical

Playing tennis and playing gold are _____

Dependent

The probability that a customer will purchase a product is 0.15. The probability that a customer is a male is 0.5. The probability that a customer is a male and will purchase a product is 0.075. The events purchasing a product and being a male are

Independent

An important theorem in probability states that as the number of trials increase, an empirical probability will approach the theoretical probability. This theorem is called the

Law of large numbers

Which comparison of probabilities would you choose to show dependence between a resident's location and whether or not they purchased a season pass

P (season Pass I Lives West) p(Season Pass) P (Season Pass I Lives East) P (Season Pass)

A set of all possible outcomes from a random experiment is called a

Sample space

Suppose in a population of adults there are 10% that are avid fly fishermen/ women. If we were to choose a random sample of 10 adults from this population the law of large numbers says

That the percentage of fishermen/ women in this sample might not equal 10% but as the sample gets larger the percentage will get closer to 10%.

A conditional probability is calculated by dividing the probability of the intersection of two events by the probability of

The given event.

Which of the following are examples of conditional probabilities?

The probability of Angel going to the movie, given that Derrick is going to the movie If Nail has already purchased groceries, then the probability of Colleen purchasing groceries

Contingency tables are useful to analyze

The results of a survey Relative frequencies

The addition rule is used to calculate

The union of two events.

Which of the following are examples of random experiments?

What payment method will the next five customers use? How many bacon cheeseburgers will our restaurant serve next week?

Events that cannot both occur at the time are mutually _____ events

exclusive

Define event A= {1,2,3,4} and event B= {2,3,6,7}. A u B=

{1,2,3,4,6,7}

Define event A = {1, 2, 3, 4} and event B = {2, 3, 6, 7}. A n B =

{2, 3,}

The highest possible probability, of the choices below, for an event is

1.0

The conditional probability that a country club member is married with children given they do not play tennis is

.3171

Given P(A) = .4, P(B) = .6 and P(A and B) = .2 calculate the conditional probability of A given B.

.3333

The probability of Margaret getting a promotion at XYZ Corp. is 0.7. The probability of Katia getting a promotion at ABC Inc is 0.6. If the two promotions are unrelated, then the probability of both Margaret and Katia receiving a promotion is

.42

Calculate the joint probability that a country club member plays tennis an golf

.45

The event A cannot occur if the P(A)=

0.

A probability that can be deduced through logical reasoning before an experiment is performed is what type of probability?

Classical

The marginal probability that a country club member is unmarried with children is

.15

The sportsbook at the High Roller Casino put the odd of a certain baseball team to win the World Series at 1:25 (1 to 25). Bases on those odds, what is the probability that this baseball team will win the world series

1/(1+25)= 0.0385

Calculate the marginal probability that a country club member does not play golf

100/400= 0.25

A _____ probability is the probability of an event given that another event has already occurred.

Conditional

To calculate a joint probability from a contingency table, the frequency of each cell is divided by the

Total number of outcomes in the sample space

True or false: Probability is a number that describes uncertainty

True

The _____ of two events, A and B, contains all the outcomes in either A or B or both A and B

Union

The odds against a horse winning a race were set at 7 to 1. The probability of that horse not winning the race is

7 /(1+7)= 0.875

P(A) = .45 and P(B) = .2. A and B are mutually exclusive. P(A I B)=

0

In order to make sure Sam gets to his final exam on time he sets 3 alarm clocks that work independently of each other. Assume the probability of any one of the alarms working is equal to 098. What is the probability that Sam is late to his final exam?

0.000008

A manufacture of liquid laundry determent has a 0.02 probability that the detergent bottles will be improperly filled. (Either too much or too little detergent.) There is a 0.03 probability that the label on the bottle will not be affixed properly, If the events of bottle fill the affixing the label are independent, then the probability of a bottle being filled improperly and having improperly affixed label is

0.006

The following relative frequencies help determine if a residents' location affects whether the resident get season passes to the pool located on the west side.

0.1

The odds against a horse winning a race are set at 7 to 1. The probability of that horse not winning the race

0.125

The probability of an employee getting a promotion is 0.2. The probability of an employee having an MBA is 0.3. The probability of an employee getting a promotion given that the employee has an MBA is 0.28. What is the probability that an employee has an MBA and gets a promotion?

0.28 x 0.3= 0.084

The probability of a customer purchasing popcorn at the movie theater is 0.3. What is the probability that a customer will not purchase popcorn?

0.7

The probability of Anthony being on tile for work is 0.9. The probability that Anthony will take the train to work is 0.8. The probability that Anthony will e on time for work if he took the train is 0.95. The probability that Anthony is on time for work and took the train is

0.76

82% of companies ship their products by truck. 47% of companies ship their products by rail. 40% of companies ship by truck and rail. What is the probability that a company ship by truck or rail?

0.89

XYZ corp. has filled 100, 000 purchase orders during its existence. 1,100 of the purchase orders have had errors. Using an empirical probability, the probability of the next purchase order having an error is

1100/100,000 =0.011

The probability of randomly selecting a "spade" from a deck of cards is

13/52= 0.25

Calculate the conditional probability that a country club member plays golf given that they play tennis

180/230= .783

80% of companies ship their products by truck. 50% of companies ship their products by rail. 60% of companies ship by either truck or rail. What is the probability that a company ships by truck and rail?

80+50-60= 70% =0.7

A travel web site wants to provide information comparing hotel costs verses the quality ranking of the hotel for hotels in New York City. One way to summarize this data would be

A contingency table

The probability of Murali going to the coffee shop is 0.7. The probability of Connie going to the coffee shop is 0.4. If Murali goes to the coffee shop, the probability of Connie going to the coffee shop is 0.48. The events Murali going to the coffee shop and Connie going to the coffee shop are

Dependent

Assume P(A) = .3 and P(B) = .4. If the P(A or B)= .7 we can say that A and B are

Disjoint Mutually exclusive events

A subset of the sample space is a/an

Event