Shannon owns two stocks: A and B. The probability that A will be profitable is 0.7. The probability that B will be profitable is 0.2. There will never arise a situation where both are profitable. What is the probability that either A or B will be profitable?
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Shannon owns two stocks: A and B. The
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- A company is introducing a new product into the market. If the sales are high, there is a 0.6 probability that they will remain so next month. If they are not, the probability that will become high next month is only 0.1. The company has the option of launching an advertisement campaign. If it does and the sales are high, the probability that they will remain high next month will increase to 0.7. On the other hand, an advertising campaign while the sales are low will raise the probability to only 0.3. If no advertisement is used and the sales are high, the returns (in thousands of dollars) are expected to be 9 if the sales remain high next month and 3 if they do not. The corresponding returns if the product starts with low sales are 6 and -3. Using advertisement will result in returns of 8 if the product starts with high sales and continues to be so and 5 if it does not. If the sales start low, the returns are 4 and -6, depending on whether or not they remain high. Obtain the…You purchase a brand new car for $15,000 and insure it. The policy pays 78% of the car's value if there is an issue with the engine or 30% of the car's value if there is an issue with the speaker system. The probability of an issue with the engine is 0.009, and the probability there is an issue with the speaker system is 0.02. The premium for the policy is p. Let X be the insurance company's net gain from this policy. (a) Create a probability distribution for X, using p to represent the premium on the policy. Enter the possible values of X in ascending order from left to right. P(X) (b) Compute the minimum amount the insurance company will charge for this policy. Round your answer to the nearest centSolve the following probabilty problem: Doris and her friend plan to travel to Florida during the winter intersession period. Based upon the past experience they know that the probability that they go by car is 0.4 and the probability that they go by plane is 0.2. What is the probability that they travel to Florida by car or plane only?
- On cloudy days, Lucy has ramen for lunch with probability 0.4.On non-cloudy days, she has ramen with probability 0.2.There's a probability of 0.3 that it'll be cloudy tomorrow.What's the probability that she eats ramen tomorrow?Two professors are applying for grants. Professor Jane has a probability of 0.66 of being funded. Professor Joe has probability 0.29 of being funded. Since the grants are submitted to two different federal agencies, assume the outcomes for each grant are independent.Give your answer to four decimal places. 1. Given at least one of the professors is funded, what is the probability that Professor Jane is funded, but Professor Joe is not?Johnny plans to go biking or hiking over the weekend. The probability that he does at least one of these is 0.70 while the probability that he does both is only 0.50. If Johnny is equally likely to go biking as to go hiking, what is the probability that he goes biking but not hiking?
- The probability that an applicant will be approved for a mortgage is 0.15. Each applicant has the same probability of being approved and the event that they are approved are independent. What is the probability that out of three applicants, exactly two of them get approved? Enter your answer as a decimal, with three decimal places. For example, if the probability is 15.37%, enter 0.154A doctor is seeking an anti-depressant for a newly diagnosed patient. Suppose that, of the available anti-depressant drugs, the probability that any particular drug will be effective for a particular patient is p = 0.32. What is the probability that the patient will need toa. take 4 different drugs until the effective one is found. b. take 5 different drugs until the effective one is found. c. take 7 different drugs until the effective one is found.Suppose the probability of getting the flu is 0.20, the probability of getting a flu shot is 0.60, and the probability of bothgetting the flu and a flu shot is 0.10. (a) Find the probability of the union between (getting the the flu) and (getting the flu shot).
- Machines A and B produce 40% and 60% respectively of the production of a component intended for the motor industry. The probability that machine A produces a defective component is 0.05 while the probability that machine B produces a defective component is 0.09.D. If a component is selected at random and is found to be not defective, find the probability that it was made by machine B.E. What is the probability to find a component that is not defective and it was made by machine A?F. What is the probability to find a component that is not defective and it was made by machine B?Q1. Some couples planning a new family would prefer at least one child of each sex. The probability that a couple’s first child is a boy is 0.512. In the absence of technological intervention, the probability that their second child is a boy is independent of the sex of their first child, and so remains 0.512. Imagine that you are helping a new couple with their planning. If the couple plans to have only two children: What is the probability that at least one girl is born?