The odds against student X solving a Business Statistics problem are 8 to 6, and odds infavour of student Y solving the problem are 14 to 16.() What is the probability that the problem will be solved if they both try independently of eachother ?(i) What is the probability that none of them is able to solve the problem ?

Answered: Image /qna-images/answer/bf685c08-5693-4593-9418-369c9fc3216c.jpg

Answered: The odds against student X solving a…

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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If P (A) = 0.6, P (B) =0.5 and P (A U B) = 0.9, find the following probabilities: (a) P (ANB) (b) P (A/B)
Suppose I flip a fair coin n = 20 times. A psychic tries to predict the outcome before each flip. Three researchers have different ideas about the psychic's ability. There is Sydney, the Skeptic (S), who thinks the psychic's success rate is between 49% and 51%. There is Morgan, the Mark, M, who thinks that the psychic's success rate is 80%. And there is Carter, the Cynic (C), who thinks the psychic's success rate is 10%. Specifically: S+ 0 ~ U(.49, .51) M + 0 = .80 C0 = .10 %3D In all cases, assume the number of successful predictions follows a binomial distribution with success rate 0. Usek for the number of successes and n for the number of trials. Given all that: Determine the formula for the Bayes factor (a.k.a., likelihood ratio) supporting Carter over Morgan. Call that Bayes factor Bc:M Determine the formula for the Bayes factor (a.k.a., likelihood ratio) supporting Morgan over Sydney. Call that Bayes factor BM:S Determine the formula for the Bayes factor (a.k.a., likelihood…
Your car is making a funny noise. You believe that the problem is either with the wheel or the axle, and you believe the probability is 0.3 that the wheel needs to be replaced, and 0.7 that the axle needs to be replaced. You need to decide whether to replace the wheel or the axle first. The cost of each alternative is given in the following table (if you decided to replace the wrong part first, you have to replace both of them). The Wheel is broken p = 0.3 The Axle is broken p = 0.7 Replace Wheel First Replace Axle First 600 1500 1500 900 a) Find the EV of each decision alternative. Which part should you replace first? b) What is the EVPI?
Suppose you are deciding whether or not to bring an umbrella to school and the weathercan be either sunny or rainy. Initially, you think the probability that it will be sunny isP (S) = 0.6, and the probability that it will be rainy is P (R) = 0.4. If you bring an umbrellaand it rains, your payoff is 6. If you bring an umbrella and it is sunny, your payoff is 9. Ifyou don’t bring an umbrella and it rains, your payoff is 0. If you don’t bring an umbrellaand it is sunny, your payoff is 10. Suppose that you check two websites for weather forecasts.You know that the two forecasts are independent of each other, and each forecast is correct70% of the time. That is, the probability that the website says it will be sunny given that itactually will be sunny is 0.7, and the probability that the website says it will rain given thatit actually will rain is 0.7. Suppose that you suffer from confirmation bias. You initially thinkit is more likely to be sunny, so you misinterpret rain forecasts as sun…
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 cent
Bob has a peculiar pair of four-sided dice. When he rolls the dice, the probability of any particular outcome is proportional to the product of the outcome of each die. All outcomes that result in a particular product are equally likely. (a) What is the probability of the product being even? (b) What is the probability of Bob rolling a 2 and a 3?
Solve 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?
Dace is a political analyst for a presidential candidate (Aspirant A) with two strong competitors (Aspirants B and C). She analyzed that B and C have exactly the same chance of winning a seat while A has twice the chance of either B and C. With the given information, what is the chance of A in winning.
Foreign freshmen are required to take an English placement exam. Over the past several years, 20% of the new students have failed the test and have been placed in remedial classes. In a sample of n = 100 studentsfrom this year’s class, only 12 failed the test.
Sarah and Thomas are going bowling. The probability that Sarah scores more than 175 is 0.5 , and the probability that Thomas scores more than 175 is 0.1 . Their scores are independent. Round your answers to four decimal places, if necessary. (a) Find the probability that both score more than 175 . (b) Given that Thomas scores more than 175 , the probability that Sarah scores higher than Thomas is 0.4 . Find the probability that Thomas scores more than 175 and Sarah scores higher than Thomas.
(2.1)
Betty is offered a bet where she can win $100 dollars with a 1/4 chance and she would lose X with a 3/4 chance. She feels indifferent between taking the bet or not, and considers herself risk neutral, so X must be about. $25 O $33 O $80 O $66

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