From a large survey of customers using a chain of coffee shops, 60% of the customers are male, 50% purchase food, 15% are both Male and purchase food. What are the probabilities that: A customer is both female and purchases food? A female customer purchases food? A customer purchasing food is female?
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From a large survey of customers using a chain of coffee shops, 60% of the customers are male, 50% purchase food, 15% are both Male and purchase food. What are the
- A customer is both female and purchases food?
- A female customer purchases food?
- A customer purchasing food is female?
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- Here are three lotteries played by three individuals that cost $100. Could you tell whether they are risk-neutral, risk-seeking(loving) or risk-averse? the percentages in () are the probabilities associated with the events. 1)Win (50%): gets $180, lose (50%): gets $40; 2)Win (50%): gets $160, lose (50%): $0; 3)Win (20%): gets $300, lose (80%): gets $50. which one of these individuals are more likely to pursue entrepreneurship? Briefly explain why.solve this pleasseA regional automobile dealership sent out fliers to prospective customers indicating that they had already won one of three different prizes: an automobile valued at $20,000, a $125 gas card, or a $5 shopping card. To claim his or her prize, a prospective customer needed to present the flier at the dealership's showroom. The fine print on the back of the flier listed the probabilities of winning. The chance of winning the car was 1 out of 31,515, the chance of winning the gas card was 1 out of 31,515 and the chance of winning the shopping card was 31,513 out of 31,515. Using the information above, what is the expected value of the prize won by a prospective customer receiving a flier? (Round to two decimal places.)
- A regional automobile dealership sent out fliers to prospective customers indicating that they had already won one of three different prizes: an automobile valued at $30,000, a $125 gas card, or a $5 shopping card. To claim his or her prize, a prospective customer needed to present the flier at the dealership's showroom. The fine print on the back of the flier listed the probabilities of winning. The chance of winning the car was 1 out of 31,729, the chance of winning the gas card was 1 out of 31,729, and the chance of winning the shopping card was 31,727 out of 31,729. Complete parts (a) through (d). a. How many fliers do you think the automobile dealership sent out? Assume there is one car and one gas card available. 31729 fliers C b. Using your answer to (a) and the probabilities listed on the flier, what is the expected value of the prize won by a prospective customer receiving a flier? H=$5.95 (Round to the nearest cent as needed.) c. Using your answer to (a) and the probabilities…Suppose that Trendy Inc. products a style of a seasonal business suit, Sit-T-Slicker, which has a cost of $500 per unit. The demand during the season for Sit-T-Slicker is generally unknown and could be either: 200, 500, 800, 1100, and 1500 units with equal probabilities. Trendy sells the Sit-T-Slicker suit for $900 per unit during its three-month season, and for $300 per unit when sold after that time. Given the above data, what is the optimal order quantity for the Sit-T-Slicker? What is expected profit? Suppose the probabilities in part a change to 0.05, 0.25, 0.40, 0.25, 0.05 for demand levels 200, 500, 800, 1100, 1500, respectively. What is the optimal order quantity and expected profit in this case? How would better information regarding the demand for the Sit-T-Slicker suit change the data provided in this problem? How would this information affect the answers to part a? Explain.(QUEEN'S SECRET AND GENIES) In old days, there was a queen and she had a secret problem to solve. To get an answer to her secret problem, the queen bought one female and one male genie lamps. The probabilities that her secret problem can be solved by the male and female genies are 0.3 and 0.4 respectively. A Queen looking for divine help. Assume the queen keeps the genies independently away from each other with a fear that both could not harm her, what is the probability that the queen's secret problem is solved by at least one of the genies? Note: Please keep accuracy upto two decimal places.
- At the Washington University 35%, 25% and 40% of the students in Calculus are taught by Prof. A, Prof. B and Prof. C, respectively. The respective probabilities of failing in Calculus for the three professors are 6%, 7% and 5%. A student in Calculus in the previous semester was randomly selected and was found out to have failed in the subject. Under which class most likely did he belong?Ponderosa Paint and Glass carries three brands of paint. A customer wants to buy another gallon of paint to match paint she purchased at the store previously. She can’t recall the brand name and does not wish to return home to find the old can of paint. So, she selects two of the three brands of paint at random and buys them. What is the probability that she matched the paint brand? Her husband also goes to the paint store and fails to remember what brand to buy. So, he also purchases two of the three brands of paint at random. Determine the probability that both the woman and her husband fail to get the correct brand of paint. (Hint: Are the husband’s selections independent of the wife’s selections?)A shop keeper sells three models of televisions A, B and C.Sale of model A is 40% of which 3% are with stereo.Sale of model B is 40% of which 7% are with stereo.Sale of model C is 20% of which 9% are with stereo.What is the probability that a randomly sold television is with stereo?
- A regional automobile dealership sent out fliers to prospective customers indicating that they had already won one of three different prizes: an automobile valued at $24 000, a $75 gas card, or a $5 shopping card. To claim his or her prize, a prospective customer needed to present the flier at the dealership's showroom. The fine print on the back of the flier listed the probabilities of winning. The chance of winning the car was 1 out of 31 679, the chance of winning the gas card was 1 out of 31 679, and the chance of winning the shopping card was 31 677 out of 31 679. Complete parts (a) through (d). a. How many fliers do you think the automobile dealership sent out? b. Using your answer to (a) and the probabilities listed on the flier, what is the expected value of the prize won by a prospective customer receiving a flier? μ=? (Round to the nearest cent as needed.) c. Using your answer to (a) and the probabilities listed on the flier, what is the standard…Hey! Need help with the following problem, thank you! Contains three parts (a-c).The accidents that occur in a manufacturing company were classified by severity (strong, moderate and mild) and by sex with the following characteristics: 40% of the accidents were strong and 30% were moderate. Women suffered 20% of the accidents. Of the total number of serious accidents, men suffered 85.5% of the accidents. Similarly, of the total moderate accidents, women suffered 45% of the accidents. Calculate the following probabilities:- If a woman suffered an accident, what is the probability that it was minor?- If a man suffered an accident, what is the probability that he is strong?