Carmen, a computer sales person, believes that the odds are 8 to 7 that she will clinch the sale of a network server to a certain company. What is the (subjective) probability that Carmen will make the sale? (Round your answer to three decimal places.) P(sale) =

Carmen, a computer sales person, believes that the odds are 8 to 7 that she will clinch the sale of a network server to a certain company. What is the (subjective) probability that Carmen will make the sale? (Round your answer to three decimal places.) P(sale) =

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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Joan and Cindy are on the same bowling league. The probability that Joan scores more than 150 is 0.4 and the probability that Cindy scores more than 150 is 0.6. a. Find the probability that both score more than 150 in the same game. b. What did you assume to solve part (a)?
For two events A and B, P(A) = 0.55, P(B) = 0.40, and P(A & B) = 0.22. Find P(A|B). Express your answer as a decimal rounded to 2 digits, eg. 0.96.
A booth at the school carnival prepared 30 grab bags offered for sale for $3.00 a bag. Ten bags contain merchandise worth $1.00. Eight bags contain merchandise worth $2.00, and twelve bags contain merchandise worth $3.00. You purchase one bag. What is your expected gain or loss?
An insurance company sells a $9,000, seven-year term life insurance policy to an individual for $560. Find the expected return for the company if the probability the individual will live for the next seven years is 0.96. (Round your answer to the nearest cent.)An insurance company sells a $9,000, seven-year term life insurance policy to an individual for $560. Find the expected return for the company if the probability the individual will live for the next seven years is 0.96. (Round your answer to the nearest cent.)
c) A manufacturer is considering the production of a new and better mousetrap. She estimates the probability that the new mousetrap is successful is ¾. If it is successful, it would generate profits of $174,000. The development costs of the mousetrap are $121,000. Should the manufacturer proceed with plans for the new mousetrap? Why or why not?
How are your grades? In a recent semester at a local university, 700 students enrolled in both Statistics I and Psychology I. Of these students, 88 got an A in statistics, 62 got an A in psychology, and 46 got an A in both statistics and psychology. Round the answers to four decimal places, as needed. (a) Find the probability that a randomly chosen student got an A in statistics or psychology or both. (b) Find the probability that a randomly chosen student did not get an A in statistics.
The map below shows the percentage change in housing prices from June 2014 to June 2015 in each of nine regions (U.S. Census divisions).+ Pacific 7.68 Mountain 7.17 West North Central 3.91 West South Central 6.92 East North Central 4.51 East South Central 4.88 Middle Atlantic 1.72 South Atlantic 6.12 New England 3.18 by You are choosing a region of the country to move to. Let E be the event that the region you choose saw a increase in housing prices of 4% or more, and let F be the event that the region you choose is on the east coast. Describe the event of EU F in words. You choose a region that saw an increase in housing prices of 4% or more or is on the east coast. You choose a region that saw a increase in housing prices of 4% or more and is on the east coast. List the outcomes of E UF. OEUF = {Pacific, Mountain, South Atlantic} EUF = {East North Central, South Atlantic, West North Central, Mountain, Pacific} EUF = {New England, Middle Atlantic, East North Central} EUF = {East North…
In gambling, the chances of winning are often written in terms of odds rather than probabilities. The odds of winning is the ratio of the number of successful outcomes to the number of unsuccessful outcomes. The odds of losing is the ratio of the number of unsuccessful outcomes to the number of successful outcomes. For example, if the number of successful outcomes is 2 and the number of unsuccessful outcomes is 3, the odds of winning are 2:3 (read "2 to 3") or 2 2 (Note: If the odds of winning are the probability of success is 3' 5.) 2 3 The odds of an event occurring are 3:1. Find (a) the probability that the event will occur and (b) the probability that the event will not occur.
How are your grades? In a recent semester at a local university, 700 students enrolled in both Statistics I and Psychology I. Of these students, 77 got an A in statistics, 68 got an A in psychology, and 35 got an A in both statistics and psychology. Round the answers to four decimal places, as needed. Part 1 of 2 (a) Find the probability that a randomly chosen student got an A in statistics or psychology or both. The probability that a randomly chosen student got an A in statistics or psychology or both is Part 2 of 2 (b) Find the probability that a randomly chosen student did not get an A in psychology. The probability that a randomly chosen student did not get an A in psychology is X X
Helen plays basketball. Helen must now attempt two free throws. C = the event that Helen succeeds on the first shot with P(C) = 0.50. D = the event Helen succeeds on the second shot with P(D)= 0.50. The probability that Helen succeeds on the second shot given that she succeeds on the first one is 0.63. What is the probability that Helen succeeds in both shots?
You are playing a game of dice where it involves rolling three dice and betting on one of the six numbers that are on the dice. The game costs P80 to play. You win P160 if the number you bet appears on only one dice, P180 if on two dice and P320 if on all three. What is your expected profit from the game? Select one: O a.-P10.50 O b. P35.80 C. P23.25 d. P85.00 O e. -P63.25
maya is playing a role playing game with her friends. She will roll a dice to determine if her character casts a spell. The odds in favor of her character casting a spell are 8/7. Find the probability of her character casting a spell.