4. Assume that a fund manager has no idea of what he/she is doing and is essentially flipping a coin in order to make decisions. Let's say it's a 50/50 proposition that he/she will have a “good year. What is the probability that the fund manager will have 6 or more good years out of 10 years?

Q: Two cards are drawn at random from a shuffled deck and laid aside without being examined. Then a…

A: Given: Two cards are drawn at random from a shuffled deck and laid aside without being examined and…

Q: Suppose that in a group of 510 students at ISU, there are 67 business majors and 204 freshmen. There…

A: We have to find the solution.

Q: One-fourth of the married couples in a far-off society have exactly three children. The other…

A: Answer can be given using the simple concept of probability.

Q: onceptions or fallacies related to probability, and how can they be avoided?

A: There are many common misconceptions or fallacies related to the probability that can lead to…

Q: what is the probability that a person who could give up her cell phone could also give up

A: Answer is  0.31

Q: Before deciding on a morning or afternoon class, Lisa remembered she wants to take her math class…

A: Given information: Morning classes will be the periods 1, 2, 3, 4 and 5. Afternoon classes will be…

Q: Suppose that 20% of the programs sold at the home game of a professional sports team contain a…

A: Since, we have to calculate the probability that at least half of the friends received the discount…

Q: "My next-door neighbor has three boys and she's pregnant again. This or is bound to be a girl."…

A: Given statement: My next-door neighbor has three boys and she's pregnant again. This one is bound to…

Q: Imagine a bank that has raised $600M in funds (total funding raised) and invested these funds in a…

A: Sol:- To calculate the deposit insurance premium that would eliminate any subsidy created by deposit…

Q: Suppose that you flip a coin 10 times. What is the probability that you achieve at least 5 tails?

A: We have to find the probability that you achieve at least 5 tails.....

Q: What is the probability that your best friend will order fries with her special?

A: Probability of an event occurring is defined as the ratio of the number of favorable outcomes to the…

Q: Atlantic Lotto recently came out with a new lottery game called “Daily Grand”. This lottery is split…

A:

Q: If she calls 10 investors, what is the probability that exactly 6 will be interested to invest in…

A: Let p be the probability that a investor invests in new technology. Given that p = 0.183 Let X…

Q: Professor Ramos will participate in a lottery that will be played by five hundred participants. He…

A: Total number of participants = 500 (This implies 500 lottery tickets are there) Professor Ramos buys…

Q: 7. A student takes a 10-question, true-false exam and guesses on each question. Find the probability…

A: Solution To find the probability we will use binomial distribution.

Q: A person invests $3 in a market in which he may gain $1 with probability or may lose $1 with…

A: Given data A person invests $3 in a market in which he may gain $1 with probability 1/2 or may lose…

Q: If records indicate that 4 houses out of 1000 are expected to be damaged by fire in any year, what…

A: Given that 4 houses out of 1000 are expected to be damaged by fire in any year. Therefore,…

Contingency Table

A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.

Binomial Distribution

Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.