The personnel department of Franklin National Life Insurance compiled the accompanying data regarding the income and education of its employees.IncomeIncome$60,000 or BelowAbove $60,000Noncollege GraduateCollege Graduate8507501980420Let A be the event that a randomly chosen employee has a college degree, and let B be the event that the chosen employee's income is more than $60,000.(a) Find each of the following probabilities. (Round your answers to four decimal places.)P(A) =P(B) =P(A n B) =P(B | A) =P(B | A) =(b) Are the events A and B independent events?O YesNoNeed Help?Watch ItTalk to a Tutor

Total number of people= 1980+850+420+750=4000 Total number of people in A= 420+750=1170 Total…

Answered: The personnel department of Franklin…

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...

See similar textbooks

Similar questions

A telemarketer is paid $10 for each sale she makes. The probability that any call she makes results in a sale is 0.4. (a) What is the probability that she made at most 6 calls to earn $10? (b) What is the probability that she made exactly 6 calls to earn $30? (c) What is the probability that she made at least 6 calls to earn $30? (d) If she made 6 calls per hour, what is the probability that she earned $80 in two hours? (e) Explain the relationship (i.e the similarity and the difference) be- tween Binomial and Negative binomial distributions.
The personnel department of Franklin National Life Insurance compiled the accompanying data regarding the income and education of its employees. s this a Income Income $60,000 or Below Above $60,000 Noncollege Graduate College Graduate 2080 820 380 720 Let A be the event that a randomly chosen employee has a college degree, and let B be the event that the chosen employee's income is more than $60,000. (a) Find each of the following probabilities. (Round your answers to four decimal places.) P(A) = P(B) = P(A n B) = P(B | A) = P(B | A) = (b) Are the events A and B independent events? 38 Yes O No
Is the following a probability model? What do we call the outcome "yellow"? Color Probability red 0.2 0.2 green blue 0.15 brown 0.25 yellow orange 0.2 Is the table above an example of a probability model? O A. Yes, because the probabilities sum to 1. O B. No, because not all the probabilities are greater than 0. OC. No, because the probabilities do not sum to 1. O D. Yes, because the probabilities sum to 1 and they are all greater than or equal to 0 and less than or equal to 1.
Use the following results from a test for marijuana use, which is provided by a certain drug testing company. Among 146 subjects with positive test results, there are 25 false positive results; among 151 negative results, there are 5 false negative results. If one of the test subjects is randomly selected, find the probability that the subject tested negative or did not use marijuana. (Hint: Construct a table.) The probability that a randomly selected subject tested negative or did not use marijuana is (Do not round until the final answer. Then round to three decimal places as needed.)
Each probability in the body of a joint probability table represents the intersection of two events. Displaying the given data in terms of probabilities allows us to make comparisons about the events in the data. The joint probability table will be set up in much the same way as the given data table. Recall the given data. Intended Enrollment Status 1 2 3 4 Full-Time 5 6 Part-Time Totals A Undergraduate Major Business Engineering Intended Enrollment Status 350 148 498 199 159 358 Other 249 196 Copy and paste this data into an Excel spreadsheet using the following format. B D C Undergraduate Major Business Engineering Full-Time 350 Part-Time 148 Totals 498 445 Totals 199 159 358 798 503 1,301 E Other 249 196 445 F Totals 798 503 1,301 Recall that the probability of an event is found by dividing the number of times an event occurs by the number of all possible outcomes. The probabilities that will be developed are for all students, so each value in the table will be divided by the number…
Use the following results from a test for marijuana use, which is provided by a certain drug testing company. Among 149 subjects with positive test results, there are 24 false positive results; among 155 negative results, there are 4 false negative results. If one of the test subjects is randomly selected, find the probability that the subject tested negative or did not use marijuana. (Hint: Construct a table.) The probability that a randomly selected subject tested negative or did not use marijuana is (Do not round until the final answer. Then round to three decimal places as needed.) Enter your answer in the answer box. 9:35 PM 2/28/2021 P Type here to search కాు PoDn End PrtScn Home F9 FIO DII 米 F2 F6 F5 F4 Esc F3 & %23 2$ % @ 7 8. 3 4 R Y H
In the game show “Deal or no Deal?”, a contestant must first choose 5 boxes out of 22 to be opened. Each box contains a different amount of money. Once a box has been opened, its contents can no longer be won. For each question, explain your reasoning carefully: (a) What is the probability that the contestant chooses the most valuable box? (b) What is the probability that the contestant chooses at least one of the top 5 most valuable boxes
Chuck works at the BuyMore where people can bring in broken computers. When a customer enters the store there is a good chance he will not be paid anything from helping them. But sometimes there is a chance he will be paid to work on their computer. The probability of each amount from a random customer is given in the following table: Job payment $13 $90 $300 $1,400 Probaiblity 0.39 0.1 0.06 0.01 When the next person walks into the BuyMore, how much money can Chuck expect to get from them on average?Answer to two decimals What is the probability he will get less than $160 from a random customer?Answer to four decimals What is the standard deviation for the payments from the customers?Answer to two decimals What is the median job payment amount?Answer to two decimals
The personnel department of Franklin National Life Insurance compiled the accompanying data regarding the income and education of its employees. Income $60,000 or Below Income Above $60,000 Noncollege Graduate 1950 900 College Graduate 400 750 Let A be the event that a randomly chosen employee has a college degree, and let B be the event that the chosen employee's income is more than $60,000. (a) Find each of the following probabilities. (Round your answers to four decimal places.) P(A) = P(B) = P(A B) = P(B | A) = P(B | Ac) =
Kramer wants to open a fruit stand. He figures his business can be really successful, moderately successful, barely successful, a failure, or a complete failure. Below is a table of all the possible outcomes, the estimated probability that each outcome will occur, and the profit Kramer will make for each out. What is the expected profit, in thousands, for this business? (Round your answer to the nearest two decimal places. Do not include the dollar sign ($) in your answer.) Outcome Really successful Moderately successful Failure P() 0.1 2 0.2 Complete failure 0.3 Barely successful ³1 5 0.2 8 Quarterly Profit ($, thousands) 0.0 2 30 16 -5 -25
The following table represents the highest educational attainment of all adult residents in a certain town. If a resident who is 40 or older is chosen at random, what is the probability that they have only completed high school? Round your answer to the nearest thousandth. Age 20-29 Age 30-39 | Age 40-49 | Age 50 & over Total High school only 1634 1411 917 936 4898 Some college 1946 1303 785 1176 5210 Bachelor's degree 1295 1536 777 1980 5588 Master's degree 818 949 195 792 2754 Total 5693 5199 2674 4884 18450
The personnel department of Franklin National Life Insurance compiled the accompanying data regarding the income and education of its employees. Income $60K or Below Income above $60K Noncollege Graduate 1980 830 College Graduate 410 780 Let A be the event that a randomly chosen employee has a college degree, and let B be the event that the chosen employee's income is more than $60,000. (a) Find each of the following probabilities. (Round your answers to four decimal places.)1. P(A) = .2975 (I GOT THIS ANSWER CORRECT)2. P(B) = .4025 (I GOT THIS ANSWER CORRECT) 3. P(A intersection B) = (I GOT THIS ANSWER WRONG - I THOUGHT IT WAS .1197 - WHICH IS P(A) * P(B)4. P(B | A) = (I GOT THIS ANSWER WRONG - I THOUGHT IT WAS .4025 - WHICH IS P(A intersection B)/ P(A) 5 P(B | Ac) = (I GOT THIS ANSWER WRONG - I THOUGHT IT WAS .4025 - WHICH IS ((1 - P(A)) * P(B)) / (1 - P(A)) Thanks!

SEE MORE QUESTIONS

Recommended textbooks for you

A First Course in Probability (10th Edition)

Probability

ISBN:

9780134753119

Author:

Sheldon Ross

Publisher:

PEARSON

A First Course in Probability

Probability

ISBN:

9780321794772

Author:

Sheldon Ross

Publisher:

PEARSON

A First Course in Probability (10th Edition)

Probability

ISBN:

9780134753119

Author:

Sheldon Ross

Publisher:

PEARSON

A First Course in Probability

Probability

ISBN:

9780321794772

Author:

Sheldon Ross

Publisher:

PEARSON

SEE MORE TEXTBOOKS