Probability and Relative Risk Handout

# Probability and Relative Risk Handout - 1 Stat 100A/Sanchez...

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3 (b) Consider the event D or H (That is, house sold for between \$300,000 and \$600,000 inclusive or the sale was made in more than 90 days). Fill in the gaps: P(D or H) = = = P( ) + P( ) – P( ) (c) Fill in the gaps: For any two events A and B P(A or B) = ________ + ________ – ____________ 5. Look at your answer to Question 2(e). (a) Comment on the events E and H. ________________________________________________________________________ ________________________________________________________________________ (b) E and H are called mutually exclusive events or disjoint events. Fill the gap: For any two mutually exclusive events A and B P(A and B) = _________ Discussion Exercise Days on the market Selling price Less than 30 days 30 – 90 days More than 90 days Total Under \$300,000 39 31 15 85 \$300,000 - \$600,000 35 45 4 84 Over \$600,000 8 4 0 12 Total 82 80 19 181 For the 181 house sales in the above table, what proportion of the houses that sold for over \$600,000 were on the market for less than 30 days? ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ 4 2. Conditional Probability Exercise 2 Days on the market Selling price Less than 30 days 30 – 90 days More than 90 days Total Under \$300,000 39 31 15 85 \$300,000 - \$600,000 35 45 4 84 Over \$600,000 8 4 0 12 Total 82 80 19 181 1. For the 181 house sales in the above table: (a) What proportion of the houses that sold for under \$300,000 were on the market for less than 30 days?
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