A financial analyst claims that, out of 5 specific stocks, it is possible to predict, in the correct order, the three that will perform best during the coming year. What is the probability of making the correct selection by chance? Show your work

A financial analyst claims that, out of 5 specific stocks, it is possible to predict, in the correct order, the three that will perform best during the coming year. What is the probability of making the correct selection by chance? Show your work

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

See similar textbooks

Related questions

Q: Suppose that 34% of people own dogs. If you pick two people at random, what is the probability that…

A: No.of people select at random = 2 The probability of one person own dogs is, P(one person own dogs)…

Q: From experience, an airline knows that only 85% of the passengers booked for a certain flight…

A: Given Information : From experience, an airline knows that only 85% of the passengers booked for a…

Q: This problem involves students who have taken Calculus in high school. Assume that 15 percent of…

A: Probability quantifies the chances of happening an event. The probability values always lie in the…

Q: In the marketing division of a particular company, there are 65 part-time employees and 33 full-time…

A: From the provided information, There are 65 part-time employees and 33 full-time employees. Total…

Q: The accompanying table shows the numbers of male and female students in a particular country who…

A: The question is about conditional probabilityGiven :To find :a ) Prob. that a rand. selected student…

Q: thirty four percent of us adults have very little confidence in newspapers. You randomly select 8 US…

A: Binomial distribution:The binomial distribution gives the probability of number of successes out of…

Q: In a large population, 59% of the people have been vaccinated. If 5 people are randomly selected,…

Q: Suppose that 54% of people own dogs. If you pick two people at random, what is the probability that…

A: Given, 54% of the people own dog.That is

Q: A basketball player with a history of making 80% of the foul shots taken during games. What is…

A: Given that n =7 , p= 0.80 Find P ( X =5 ) =?

Q: Suppose that 24% of people own dogs. If you pick 4 people at random, what is the probability that…

A: Given Information:24% of people own dogs.

Q: If 52% of the people at a certain conference are doctors, 44% are women, and 67% are doctors or…

A: The union probability for any two events A and B is defined as P(A or B) = P(A) + P(B) – P(A and…

Q: In a large population, 53 % of the people have been vaccinated. If 4 people are randomly selected,…

A: Given information- Given problem is of binomial distribution. Probability of success, p = 0.53 No.…

Q: new drug cures 65% of the patients who take it. If it is given to 14 patients, what is the…

A: We have to find out answer of given question....

Q: Suppose that 84% of students in a college have a smart phone. If you select three students at…

A: sample size(n)=3 p=0.84 Let "x" be no.of students have a smart phone x~Binomial(n=3,p=0.84)…

Q: Suppose that 10% of people own dogs. If you pick two people at random, what is the probability that…

A: From the provided information, 10% of people own dogs that is p = 0.10 Sample size (n) = 2 X~B (2,…

Q: Assume that 30 percent of students have taken calculus in high school. Of those who have taken…

A: Let define the events: C = students taken calculus in high school C=students do not taken calculus…

Q: the sales manager knows that 13% of his clients do not pay their debts in full. He supposes that he…

A: We have to find out the given probability that 9% or more will not be fulfilled in their…

Q: In a large population, 68% of the people have been vaccinated. If 5 people are randomly selected,…

A: Givenp=0.68n=5Let x be no.of people vaccinatedx~Binomial(n=5,p=0.68)P(X=x)=(nx)×px×(1-p)n-x ;…

Q: Suppose that 24% of people own dogs. If you pick two people at random, what is the probability that…

A: Given 24% of people own dogs

Q: This problem involves students who have taken Calculus in high school. Assume that 25 percent of…

Q: Color blindness has a rate of about 5% among males. If you pick a group of 15 males, what is the…

Q: 34% that a stock investement will end up in a total loss what is the chance that 1 of 3 investments…

A: It is given that, 34% that a stock investment will end up in a total loss. It means that the…

Q: Suppose that 14% of people own dogs. If you pick two people at random, what is the probability that…

A: Answer: Given that: p=P(people own dogs)= 0.14 , n= 2 now will use Binomial probability…

Q: It has been estimated that 21% of Americans are smokers. If four American adults are chosen at…

A: Given that, proportion, p= 21% p= 0.21 So q= 1-p= 1-0.21 = 0.79 And sample size is n= 4 So X~…

Q: Long-term history has shown that 75% of all elected offices in an urban district have been won by…

A: Let x follows binomial distribution with parameters n = 8 and p = 0.75 The pdf of binomial…

Q: Suppose that 25% of people own dogs. If you pick two people at random, what is the probability that…

A: Solution:- from given information probability of people own dogs is 25% p=0.25 random sample n =…

Q: Records show that 65% of employees at a high-level research facility have a doctorate degree. If 14…

A: Given data Record shows that 65% of employees at high level research have a doctorate degree. 14…

Q: A person conducting telephone surveys must get 3 more completed surveys before their job is…

A: There is 20% chance of completing the phone survey

Q: On a statistics exam, 8 students received an A, 4 students received a B, and 6 students received a…

Q: t is estimate that 40% of households own a riding lawn mower. A sample of 11 households is studied.…

Q: A news station polls 405 voters to predict whether a budget will pass. Suppose the budget has…

A: Consider that p is population proportion of voters, who support the budget.

Question

Expert Solution

Step 1

Step by step

Solved in 2 steps with 2 images

SEE SOLUTION Check out a sample Q&A here

Similar questions

Suppose that 57% of people own dogs. If you pick two people at random, what is the probability that they both own a dog? Give your answer as a decimal (to at least 3 places) or fraction
In a large population, 68 % of the people have been vaccinated. If 4 people are randomly selected, what is the probability that AT LEAST ONE of them has been vaccinated? Give your answer as a decimal (to at least 3 places) or fraction.
Suppose that you and two friends go to a restaurant, which last month filled approximately 78 %78% of the orders correctly. Complete parts (a) through (d) below. a. What is the probability that none of the three orders will be filled correctly?
A restaurant randomly chooses what to include on its pizza of the day. The meat choices are pepperoni or sausage. The vegetable options are mushrooms, onions, or peppers. The crust options are sesame seed or garlic. Using a tree diagram, determine the probability of a pizza of the day including pepperoni, onions, and garlic crust on a given day? Express your answer as a percentage.
If the probability of a person losing on a scratch-off lottery ticket is 0.955, the odds of losing are
This problem involves students who have taken Calculus in high school. Assume that 35 percent of students have taken calculus in high school. Of those who have taken calculus in high school, 75 percent plan to major in science. Of those who did not take calculus in high school, only 20 percent plan to major in science. What is the probability that a randomly selected student plans to major in science?
Suppose that 35% of people own dogs. If you pick two people at random, what is the probability that they both own a dog?Give your answer as a decimal (to at least 3 places) or fraction
You are auditioning lead guitarists, in random order, for a project band. 35 people have signed up to audition, of which you will consider exactly 5 to be a good fit. What is the probability that you find the first person who auditions to be a good fit, then none of the next six people to be a good fit? Round to the nearest 0.1%
In a large population, 53% of the people have been vaccinated. If 4 people are randomly selected, what is the probability that at least one of them has been vaccinated? Round your answer to three decimal places.
Look at the picture