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Let X be the total amount saved in dollars at the cash register. The pdf of X is given by: Value of X 8 20 28 40 50 58 70 probability 0.36 0.21 0.24 0.1225 0.0175 0.03 .0175 0.0025 Before I make the purchase, you would place my chance of saving $20 at 24%. Suppose you approach me after I pay for my items and ask: "Did you save any money?" If I answer "no", then you know I didn't save $20 and thus the chance of saving $20 changes from the unconditional chance 24% to the conditional chance 0%. However, if I answer "yes" my chance of saving $20 would get higher. What would be the conditional chance of saving $20 if you knew I got a discount? Mathematically, we seek: P(X = 20 |X > 0 ). Even though it looks weird, it is just a conditional probability. Find it. P(X = 20|X > 0) = P(X = 20 and X > 0) / P(X > 0) = Hint: P(X = 20 and X > 0) can be read off the table by identifying possible values where the event (X = 20 and X > 0) is true, don't use the multiplication rule. Do not round, express your answer as a proportion using up to 4 decimal places.

Let X be the total amount saved in dollars at the cash register. The pdf of X is given by: Value of X 8 20 28 40 50 58 70 probability 0.36 0.21 0.24 0.1225 0.0175 0.03 .0175 0.0025 Before I make the purchase, you would place my chance of saving $20 at 24%. Suppose you approach me after I pay for my items and ask: "Did you save any money?" If I answer "no", then you know I didn't save $20 and thus the chance of saving $20 changes from the unconditional chance 24% to the conditional chance 0%. However, if I answer "yes" my chance of saving $20 would get higher. What would be the conditional chance of saving $20 if you knew I got a discount? Mathematically, we seek: P(X = 20 |X > 0 ). Even though it looks weird, it is just a conditional probability. Find it. P(X = 20|X > 0) = P(X = 20 and X > 0) / P(X > 0) = Hint: P(X = 20 and X > 0) can be read off the table by identifying possible values where the event (X = 20 and X > 0) is true, don't use the multiplication rule. Do not round, express your answer as a proportion using up to 4 decimal places.

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Let X be the total amount saved in dollars at the cash register. The pdf of X is given by: Value of X 20 28 40 50 58 70 probability 0.36 0.21 0.24 0.1225 0.0175 0.03 .0175 0.0025 Before I make the purchase, you would place my chance of saving $20 at 24%. Suppose you approach me after I pay for my items and ask: "Did you save any money?" If I answer "no", then you know I didn't save $20 and thus the chance of saving $20 changes from the unconditional chance 24% to the conditional chance 0%. However, if I answer "yes" my chance of saving $20 would get higher. What would be the conditional chance of saving $20 if you knew I got a discount? Mathematically, we seek: P(X = 20|X > 0 ). Even though it looks weird, it is just a conditional probability. Find it. P(X = 20|X > 0) = P(X = 20 and X > 0) / P(X > 0) = Hint: P(X = 20 and X > 0) be read off the table by identifying possible values where the event (X = 20 and X > 0) is true, don't use the multiplication rule. Do not round, express your answer as a proportion using up to 4 decimal places.
Transcribed Image Text:Let X be the total amount saved in dollars at the cash register. The pdf of X is given by: Value of X 20 28 40 50 58 70 probability 0.36 0.21 0.24 0.1225 0.0175 0.03 .0175 0.0025 Before I make the purchase, you would place my chance of saving $20 at 24%. Suppose you approach me after I pay for my items and ask: "Did you save any money?" If I answer "no", then you know I didn't save $20 and thus the chance of saving $20 changes from the unconditional chance 24% to the conditional chance 0%. However, if I answer "yes" my chance of saving $20 would get higher. What would be the conditional chance of saving $20 if you knew I got a discount? Mathematically, we seek: P(X = 20|X > 0 ). Even though it looks weird, it is just a conditional probability. Find it. P(X = 20|X > 0) = P(X = 20 and X > 0) / P(X > 0) = Hint: P(X = 20 and X > 0) be read off the table by identifying possible values where the event (X = 20 and X > 0) is true, don't use the multiplication rule. Do not round, express your answer as a proportion using up to 4 decimal places.
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