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In Exercises 1–8, use Bayes’ theorem or a tree diagram to calculate the indicated probability. Round all answers to four decimal places. [HinT: See Quick Example 1 and Example 3.]
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Finite Mathematics and Applied Calculus (MindTap Course List)
- Subject; algebraarrow_forwardSection 2 7. The joint probability function for X and Y is given below. Find Pr(X >Y). fx,x (x, y) 0.24 0.36 1 0.21 0.19 0.79 0.43 None of the given options. 0.21 0.57arrow_forwardMany professional baseball teams (including the Cincinnati Reds and the Boston Red Sox) use Bill James's formula to estimate their probability of winning a league pennant: (Runs scored)2 (Runs scored)2 + (Runs allowed)2 Probability) of winning This formula, whose form is reminiscent of the Pythagorean theorem, is considered more accurate than just the proportion of games won because it takes into consideration the scores of the games.t Find this probability for a team that has scored 500 runs and allowed 400 runs. (Round your answer to the nearest whole percent.)arrow_forward
- i will rate. answer correctly.arrow_forwardBased on historical data kept by a business school, the probability distribution for students who have been found in violation of academic integrity in the core accounting class each semester is given below. Let x = number of students found in violation of academic integrity in a semester in the core accounting class. Answer the questions below. Do your calculations in the columns to the right of Prob(x). x Prob(x) 0 0.5 1 0.18 2 0.17 3 0.04 4 0.106 5 0.004 A) Is this a valid probability distribution? Justify briefly. B) What is the expected value of the number of students found to be in violation of academic integrity in the core accounting class c) What is the standard deviation of the number of students found to be in violation of academic integrity in the core accounting class?arrow_forwardll GOMO 1:07 AM 32% O Activity 3 .docx Activity/Assessment: Directions: Answer the following question. 1. On New Year's Eve, the probability of a person driving while intoxicated is 0.32, the probability of a person having a driving accident is 0.09, and the probability of a person having a driving accident while intoxicated is 0.06. What is the probability of a person driving while intoxicated or having a driving accident? 2. In a recent survey, the following data were obtained in response to the question, "If the number of summer classes were increased, would you be more likely to enroll in one or more of them?" Class No opinion Yes No Freshmen 15 Sophomores 24 4 If a student is selected at random, find the probability that the student a. Has no opinion b. Is a freshman or is against the issue c. Is a sophomore and favors the issue 3. There are 16 seniors and 15 juniors in a particular social organization. In how many ways can 4 seniors and 2 juniors be chosen to participate in a…arrow_forward
- (Devore: Section 2.5 #74) The proportions of blood phenotypes in the U.S. population are shown in the table. Assuming that the phenotypes of two randomly selected individuals are independent of one another. A 0.40 B AB O 0.11 0.04 0.45 (a) What is the probability that both phenotypes are O? (b) What is the probability that the phenotypes pf two randomly selected individuals match?arrow_forwardi need help comprehending this question.arrow_forwardANSWER COMPLETELY FOR UPVOTEarrow_forward
- E and F are mutually exclusive events. P(E) = 0.1; P(F) = 0.6. Find P(E | F).arrow_forwardI need help solving the Question number 8arrow_forward1. ABC inc. stock is currently selling for $30, one year from today the stock price can either increase by 20% or decrease by 15%. The probability of an increase in the stock price is equal to 0.3. The one-year risk-free rate is 5% What is the value of a European put that expires in one year with an exercise price of $24. 2. Graphically, show the value and the profit and loss of the following butterfly position: Long in a call with an exercise price of $30, short in 2 calls with an exercise price of $45, and long in a call with an exercise price of 60. All calls are written on the same stock and have the same maturity. 3. "Early exercise of an American option on a stock that does not pay any dividend is not optimal regardless of whether the option is a Call or a Put". True, False, or Uncertain. Explain.arrow_forward
- Algebra & Trigonometry with Analytic GeometryAlgebraISBN:9781133382119Author:SwokowskiPublisher:Cengage