Analytics Week 5 Homework.pdf - Soft Drinks 15 4 6 25 diet...

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Soft Drinks15diet colas4cans of lemonade6cans of root beer25 TOTAL(a)PROBABILITY OF NEXT DRINK TO BEFormula CalculationFormula DiscriptionExamplediet colas0.60"=no of diet colas/total""=B3/$B$6"cans of lemonade0.16"=no of cans of lemonade/total"cans of root beer0.24"=no of cans of root beer/total"(b)You will need to pick only oneof the three definitions, that is most appropriate, then delete the other two:Imperical or Relative Frequency Definition of Probablitiy
MBA StudentsProbabilityP(Finance)P(Marketing)Finance670.3701657Marketing450.2486188Operations and Supply Chain510.281768Information Systems180.0994475Total181P(finance or marketing)Use Formula hereTo find the answer, you will need to apply the Specific Addition Rule; which is Only valid when the events are mutually exclusive.P(A or B) = P(A) + P(B)Answer the second part whether these events are mutually exclusive [i.e. think and decide if both specializations can or cannot happen at the same time] The events are mutually exclusive, you will either get a Finace degree or a Marketing degree.

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