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Economics 320
Homework 2
1.
Suppose that in the packagedserial industry, 29% of all vice presidents hold MBA degrees, 24%
undergraduate business degrees, and 8% hold both.
A vice president is to be selected at random.
a.
What is the probability that the vice president holds either an MBA or an undergraduate
business degree (or both)?
b.
What is the probability that the vice president holds neither degree?
c.
What is the probability that the vice president holds one degree or the other but not both?
2.
An Automatic Shaw machine fills plastic bags with a mixture of beans, broccoli and other
vegetables.
Most bags contain te correct weight, but because of variation in the size of the beans
and other vegetables, a package might be underweight or overweight.
A check of a sample of
4000 packages revealed: A (underweight) occurred on 100 packages, B(satisfactory) occurred on
3,600 packages and C (overweight) occurred on 300 packages.
a.
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This homework help was uploaded on 04/22/2008 for the course ECON 320 taught by Professor Martin during the Spring '08 term at Allegheny.
 Spring '08
 Martin
 Economics

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