What is the probability a randomly selected LGA refrigerator is at least one year old and no longer works? (A) 0.051 (B) 0.135 (C) 0.480 (D) 0.531 (E) 0.904
Compound Probability
Compound probability can be defined as the probability of the two events which are independent. It can be defined as the multiplication of the probability of two events that are not dependent.
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Probability theory is a branch of mathematics that deals with the subject of probability. Although there are many different concepts of probability, probability theory expresses the definition mathematically through a series of axioms. Usually, these axioms express probability in terms of a probability space, which assigns a measure with values ranging from 0 to 1 to a set of outcomes known as the sample space. An event is a subset of these outcomes that is described.
Conditional Probability
By definition, the term probability is expressed as a part of mathematics where the chance of an event that may either occur or not is evaluated and expressed in numerical terms. The range of the value within which probability can be expressed is between 0 and 1. The higher the chance of an event occurring, the closer is its value to be 1. If the probability of an event is 1, it means that the event will happen under all considered circumstances. Similarly, if the probability is exactly 0, then no matter the situation, the event will never occur.
19. A particular manufacturer of refrigerators has come under fire as their $1,700 LGA model has failed for a significant portion of owners. The LGA model often failed approximately 1-2 years after purchase, which is outside the warranty period. A class action lawsuit was filed by owners of the LGA model claiming that the manufacturer should repair or replace the units.
The lawyer representing the class action lawsuit obtained a list of LGA owners who completed registration cards and asked a simple random sample of 1000 LGA owners, “Is your LGA refrigerator still working?” He also recorded the age of the refrigerator from information provided on the registration card. Here are the data:
What is the
- (A) 0.051
- (B) 0.135
- (C) 0.480
- (D) 0.531
- (E) 0.904
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