AnswerOnline | Failed =P(Onli Two teaching methods for a statistics class, online and face-to-face, are available during the course of an academic year. To date, 1 out of every 25 students has failedthe online class and 3 out of every 50 students have failed the face-to-face class. However, the online class is only offered 10% of the time due to faculty constraintsand the face-to-face class is offered the other 90% of the time. What is the probability that a student who failed the course took the class online? Round your answer tofour decimal places. (Do not round intermediate values.)

From the problem, we have:P(Failed | Online) = 1/25 = 0.04P(Online) = 0.1P(Failed | Face-to-face) =…

Answered: Answer Online | Failed = P(Onli Two…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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2. A city had an unemployment rate of 7%. The mayor pledged to lower this figure and supported programs to decrease unemployment. A group of citizens wanted to test with 0.032 label of significance if the unemployment rate had actually decreased, so they obtained a random sample of 500 citizens to see what proportion of the sample was unemployed. Only 32 citizens in the above sample is still unemployed. What is the probability of Type II error if the actual unemployment rate is 6.5% please don't use software everything needs to be done by hand. Explain because I don't understand my professor. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
This problem involves empirical probability. The table shows the breakdown of 95 thousand single parents on active duty in the U.S. military in a certain year. All numbers are in thousands and rounded to the nearest thousand. Use the data in the table to find the probability that a randomly selected single parent in the U.S. military is in the Army. Male Female Total Army 24 10 34 Navy 27 8 35 Marine Corps 5 1 6 Air Force 146 20 Total 70 25 95 The probability that a randomly selected single parent in the U.S. military is in the Army is (Type an integer or decimal rounded to the nearest hundredth as needed.)
According to a recent Wall Street Journal article, about 2% of new US car sales are electric vehicles (data from Edison Electric Institute reported by Jinjoo Lee, "Peak Oil? Not This Year. Or This Decade," January 9, 2021 pg. B12). Suppose a company has 111 employees who drive new cars (separately) to work each day. What is the probability that at least one of them will drive an electric car? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
Insurance: An insurance company sells a 1-year term life insurance policy to an 84-year-old man. The man pays a premium of $1600. If he dies within 1 year, the company will pay $33,000 to his beneficiary. According to the U.S. Centers for Disease Control and Prevention, the probability that an 84-year-old man will be alive 1 year later is 0.9537, Let X be the profit made by the insurance company. do Part: 0/2 Part 1 of 2 (a) Find the probability distribution. The probability distribution is 1600 P (x)
Brain tumors in children are rare: the base rate is only about 1/10,000. A child with a tumor is very likely to have occasional headaches: 99 out of 100 do. But there are many other reasons a child can have a headache: of those who do not have a tumor, 1 in 10 have occasional headaches. 1. Given that a child has occasional headaches (H), what it the probability that he or she has a brain tumor (T)? Show your work. 2. Name a behavioral bias that may occur when estimating the probability that your child has a brain tumor. Would this bias lead to under-or-overestimate that probability? Explain. 3. Among children with headaches (H), 999/1000 will ultimately be fine (F). Suppose that a physician using a simple test can correctly determine whether the child is fine or not in 95/100 of children with headaches. Given that the doctor after performing the test gives the patient a green light (G), what is the probability that the child really will be fine? Show your work.. Page 1 of 1 175 words…
The U.S. Census Bureau serves as the leading source of quantitative dataabout the nation's people and economy. The following crosstabulationshows the number of households (1000s) and the household income by the highest level of education for the head of household (U.S. Census Bureau website, 2013). Only households in which the head has a high school diploma or more are included. a. Develop a joint probability table.b. What is the probability of the head of one of these householdshaving a master's degree or more education?c. What is the probability of a household headed by someone with ahigh school diploma earning $100,000 or more: d. What is the probability of one of these households having anincome below $25,000?e. What is the probability of a household headed by someone with abachelor's degree earning less than $25,000?f. Is household income independent of educational level?
The following table shows the results of a survey conducted by Impulse Research for the Downtown Cookie Company. In the survey, 1050 adults were asked to identify their favorite cookie. a. b. Favorite Cookie Chocolate chip Peanut butter Oatmeal Sugar/shortbread Other Total Frequency 483 231 147 126 63 1050 Determine the probability distribution. What is the probability of selecting a person whose favorite cookie was chocolate chip? C. What is the probability of selecting a person whose favorite cookie was not chocolate chip? d. What is the probability of selecting a person whose favorite cookie was chocolate chip or a person whose favorite cookie was peanut butter?
Suppose the market for auto insurance is made of up two types of buyers: high-risk and low-risk. Buyers’ willingness to pay (WTP) for auto insurance plans, and sellers’ willingness to accept (WTA) when selling plans to each type of buyer, are outlined in a photo Assume now that there is asymmetric information and that insurance companies do not knowhow risky an individual buyer is. In the face of this uncertainty, they determine that the probability that a “walk-in” is high-risk is 0.75. What is the minimum price sellers are willing to accept when selling aninsurance plan? At this price, will low- and high-risk buyers both be willing to purchase this insurance plan? Explain. Be sure the mention adverse selection in your answer. Returning to the conditions outlined in Q1, suppose that buyers of auto insurance (high- and low-risk) were offered a $1,000 subsidy to purchase coverage. This would raise their WTP by $1,000. Would the market for both insurance plans clear after the…
A store sells from 0 to 12 computers per day. Is the amount of daily computer sales a discrete or continuous random variable?
Please no written by hand solution Kate recently invested in real estate with the intention of selling the property one year from today. She has modeled the returns on that investment based on three economic scenarios. She believes that if the economy stays healthy, then her investment will generate a 30 percent return. However, if the economy softens, as predicted, the return will be 10 percent, while the return will be -25 percent if the economy slips into a recession. If the probabilities of the healthy, soft, and recessionary states are 0.6, 0.2, and 0.2, respectively, then what are the expected return and the standard deviation of the return on Kate❝s investment? Calculate the coefficient of variation for this investment. (Round expected return to 3 decimal places, e.g. 0.125 and round intermediate calculations and standard deviation to 5 decimal places, e.g. 0.07680.)
2
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