e 43. A print shop has three presses : P, P2 and P3. Each press is shut down 10 per cent of the time. The probability of any press being shut down is not influenced by the operating conditions of the other two. Determine the probability that (i) All the three presses are shut dowil (ii) At least one press is shut down (iii) P, or P, or both are shut down.
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- 3.12 Mark is deciding which route to take to work. His choices are I = the Interstate and F = Fifth Street.• P(I) = 0.44 and P(F) = 0.55• P(I AND F) = 0 because Mark will take only one route to work.What is the probability of P(I OR F)?To generate leads for new business, Gustin Investment Services offers free financial planning seminars at major hotels in Southwest Florida. Gustin conducts seminars for groups of 25 individuals. Each seminar costs Gustin $3,400, and the commission for each new account opened is $4,900. Gustin estimates that for each individual attending the seminar, there is a 0.01 probability that he/she will open a new account. Determine the equation for computing Gustin's profit per seminar, given static values of the relevant parameters. Profit =(New accounts opened x _______)-_________ Construct a simulation model to analyze the profitability of Gustin's seminars. Would you recommend that Gustin continue running the seminars? (Use at least 1,000 trials. Round your answer to two decimal places.) What is the minimum number of attendees (in a multiple of five, i.e., 25, 30, 35, …) that Gustin needs before a seminar's average profit is greater than zero? =______ attendeesAlicia believes that the probability for the stock market to go down is 0.7 given that the economy deteriorates during pandemic covid-19. She also believes that the probability that the economy will deteriorate is 0.5. Based on the information above, what is the probability that the economy will deteriorate and the stock market will go down?
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