A sample of 38 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. Which of the following are possible events. (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer.) check all that apply 30 people respond "Yes. 40 people respond "Yes." 43 people respond "No. 53 people respond "No. The questionnaire fails to reach one executive.unanswered c. 28 of the 38 executives responded yes. Based on these sample responses, what is the probability that an oil industry executive will respond yes? (Round your answer to 2 decimal places.) d. What concept of probability does this illustrate? multiple choice 1 Empirical Subjective Classical e. Are each of the possible outcomes equally likely and mutually exclusive? multiple choice 2 The outcomes are not equally likely but are mutually exclusive. The outcomes are not equally likely and are also not mutually exclusive. The outcomes are equally likely and are also mutually exclusive. The outcomes are equally likely but are not mutually exclusive.
Addition Rule of Probability
It simply refers to the likelihood of an event taking place whenever the occurrence of an event is uncertain. The probability of a single event can be calculated by dividing the number of successful trials of that event by the total number of trials.
Expected Value
When a large number of trials are performed for any random variable ‘X’, the predicted result is most likely the mean of all the outcomes for the random variable and it is known as expected value also known as expectation. The expected value, also known as the expectation, is denoted by: E(X).
Probability Distributions
Understanding probability is necessary to know the probability distributions. In statistics, probability is how the uncertainty of an event is measured. This event can be anything. The most common examples include tossing a coin, rolling a die, or choosing a card. Each of these events has multiple possibilities. Every such possibility is measured with the help of probability. To be more precise, the probability is used for calculating the occurrence of events that may or may not happen. Probability does not give sure results. Unless the probability of any event is 1, the different outcomes may or may not happen in real life, regardless of how less or how more their probability is.
Basic Probability
The simple definition of probability it is a chance of the occurrence of an event. It is defined in numerical form and the probability value is between 0 to 1. The probability value 0 indicates that there is no chance of that event occurring and the probability value 1 indicates that the event will occur. Sum of the probability value must be 1. The probability value is never a negative number. If it happens, then recheck the calculation.
A sample of 38 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?
check all that apply
- 30 people respond "Yes.
- 40 people respond "Yes."
- 43 people respond "No.
- 53 people respond "No.
- The questionnaire fails to reach one executive.unanswered
c. 28 of the 38 executives responded yes. Based on these sample responses, what is the probability that an oil industry executive will respond yes? (Round your answer to 2 decimal places.)
multiple choice 1
-
Empirical
-
Subjective
-
Classical
multiple choice 2
-
The outcomes are not equally likely but are mutually exclusive.
-
The outcomes are not equally likely and are also not mutually exclusive.
-
The outcomes are equally likely and are also mutually exclusive.
-
The outcomes are equally likely but are not mutually exclusive.
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