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Econ 261 Problem Set 2 Answers

# Econ 261 Problem Set 2 Answers - ECO 261-Sections IV&V Fall...

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Solutions for Problem Set 2 1) a) The complement of event A is that it will take 4 days or less before the machinery becomes operational. A = f 1 ; 2 ; 3 ; 4 g b) The intersection of A and B will be the event that it takes 5 days before the machinery becomes operational. A \ B = f 5 g c) A [ B = f 1 ; 2 ; 3 ; 4 ; 5 ; 6 ; 7 g d) A and B are not mutually exclusive because P ( A \ B ) 6 = 0 e) A \ B = f 5 g A \ B = f 1 ; 2 ; 3 ; 4 g = ) ( A \ B ) [ ( A \ B ) = f 1 ; 2 ; 3 ; 4 ; 5 g = B f) A = f 5 ; 6 ; 7 g A \ B = f 1 ; 2 ; 3 ; 4 g = ) A [ ( A \ B ) = f 1 ; 2 ; 3 ; 4 ; 5 ; 6 ; 7 g = A [ B 2) a) The total number of outcomes in the sample space is C 16 4 = 16! 4!(16 4)! = 1 ; 820 The number of ways to select 2 A±s from the 10 available is C 10 2 = 10! 2!(10 2)! = 45 The number of ways to select 2 B±s from the 6 available is C 6 2 = 6! 2!(6 2)! = 15

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Econ 261 Problem Set 2 Answers - ECO 261-Sections IV&V Fall...

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