Assume that a person's profession can be classified as professional, skilled, or unskilled. Assume also that the probabilities thatthe child of a professional laborer becomes a professional, skilled, or unskilled laborer are 0.8, 0.1, and 0.1, respectively.Similarly, assume that the probabilities for the child of a skilled laborer are 0.2, 0.6, and 0.2 and for the child of an unskilledlaborer are 0.25, 0.25, and 0.5. (To keep things simple, we will assume that the primary bread winner solely determines theprobabilities or their children.)1. Construct a stochastic probability matrix that models this system.2. What does your model give as the probability that a randomly chosen grandchild of an unskilled laborer will become aprofessional laborer?3. What does your model predict about the long term distribution of labor in this population?(Sub

Answered: illed. Assume also that the pr. the…

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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Let SN = X1 + X2+..+XN. IfN takes the values 0, 1, 2, 3 with probabilities 0.5, 0.3, 0.1, 0.1 respectively, and X takes values 1, 2, 3, 4, 5, 6 with probabilities 0.2, 0.2, 0.2, 0.2, 0.1, 0.1 respectively. Determine the mean of the stochastic sum i.e. E(SN)
The probability of a thunderstorm on Memorial Day is 0.13 and the probability of a thunderstorm on Independence Day is 0.59. Assuming that these two are Independent, what is the probability of thunderstorms on both Memorial and Independence Day?
The probability that a student will pass in the Economics test is 2/3, and that a vill not pass in the English test is 5/9. If the probability of his passing in at ne ane of these two tests is 4/5 , find the probability that he will pass in both 20 is the tests. CS Scanned with CamScanner
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The probability that a certain machine will produce a defective item is 0.2. If a random sample of 6 items is taken, the probability that there will be 6 defectives in the sample equals a. 0.002328 b. none of the choices c. 0.000064 d. 0.001546
Brgy. Pallet has one Full Restore and one Max Revive available for emergencies. The probability that the Full Restore is available for use is 0.98 and the probability that the Max Revive is available for use is 0.92. Assuming that the availability of these items is independent of each other, what is the probability that both of these items are available for a Trainer to use?
Given Probabilities y = 1 y = 2 x = 1 x = 2 0.2 0.3 0.5 Find: а. Pr(X > Y) %3 b. Pr(Y = 1) =
2. The following probabilities are given for a certain life: 10P75 = 0.55, 20 P60 = 0.35, and = 0.65 15P 60 Evaluate (i) the probability that the life aged 60 will die between ages 75 and 85. (i the probability that the life aged 60 will die within age 80.
Benford's Law claims that numbers chosen from very large data files tend to have "1" as the first nonzero digit disproportionately often. In fact, research has shown that if you randomly draw a number from a very large data file, the probability of getting a number with "1" as the leading digit is about 0.301. Suppose you are an auditor for a very large corporation. The revenue report involves millions of numbers in a large computer file. Let us say you took a random sample of n = 250 numerical entries from the file and r = 60 of the entries had a first nonzero digit of 1. Let p represent the population proportion of all numbers in the corporate file that have a first nonzero digit of 1. Test the claim that p is less than 0.301 by using α = 0.01. What does the area of the sampling distribution corresponding to your P-value look like? a. The area in the right tail of the standard normal curve. b. The area not including the right tail of the standard normal curve.…
Suppose that on any given day, there is a 20% chance that Lebron has a bad day, a 50% day that Lebron has a so-so day, and a 30% chance that Lebron has a good day. On a bad day, the probability that Lebron makes any given 3-point shot is 0.5. On a so-so day, the probability that Lebron makes any given 3-point shot is 0.7. On a good day, the probability that Lebron makes any given 3-point shot is 0.9. Suppose that tomorrow, Lebron takes a 3-point shot, and we record whether he hits or misses and what kind of day he was having. What is the probability that Lebron hits? What is the probability that if Lebron is having a bad day given that he misses a shot that day?

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