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A survey of recent e-commerce start-up firms was undertaken at an industry convention. Representatives of the firm were asked for the geographic location of the firm as well as the firm's outlook for growth in the coming year. The results are provided below. Expected Growth a) b) c) Low Medium High Total Northeast 57 36 105 South 42 18 24 84 Region Midwest 36 15 75 West 12 15 9 Calculate the missing values. Produce the probability table. What is the probability that one of these start-up firms was from the Northeast? Total 147 93 60 d) What is the probability that one of these start-up firms' expected growth is Medium? e) What is the probability that one of these start-up firms was from the Midwest and expected growth was rated as high?

A survey of recent e-commerce start-up firms was undertaken at an industry convention. Representatives of the firm were asked for the geographic location of the firm as well as the firm's outlook for growth in the coming year. The results are provided below. Expected Growth a) b) c) Low Medium High Total Northeast 57 36 105 South 42 18 24 84 Region Midwest 36 15 75 West 12 15 9 Calculate the missing values. Produce the probability table. What is the probability that one of these start-up firms was from the Northeast? Total 147 93 60 d) What is the probability that one of these start-up firms' expected growth is Medium? e) What is the probability that one of these start-up firms was from the Midwest and expected growth was rated as high?

A First Course in Probability (10th Edition)
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...
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A survey of recent e-commerce start-up firms was undertaken at an industry convention. Representatives of the firm were asked for the geographic location of the firm as well as the firm's outlook for growth in the coming year. The results are provided below. Expected Growth a) b) Low Medium High Total Northeast 57 36 105 South 42 18 24 84 Region Midwest 36 15 75 West 12 15 9 Calculate the missing values. Produce the probability table. What is the probability that one of these start-up firms was from the Northeast? Total 147 93 60 d) What is the probability that one of these start-up firms' expected growth is Medium? e) What is the probability that one these start-up firms was from the Midwest and expected growth was rated as high?
Transcribed Image Text:A survey of recent e-commerce start-up firms was undertaken at an industry convention. Representatives of the firm were asked for the geographic location of the firm as well as the firm's outlook for growth in the coming year. The results are provided below. Expected Growth a) b) Low Medium High Total Northeast 57 36 105 South 42 18 24 84 Region Midwest 36 15 75 West 12 15 9 Calculate the missing values. Produce the probability table. What is the probability that one of these start-up firms was from the Northeast? Total 147 93 60 d) What is the probability that one of these start-up firms' expected growth is Medium? e) What is the probability that one these start-up firms was from the Midwest and expected growth was rated as high?
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