chap 5 - CHAPTER 5 7) A sample of 40 oil industry...

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CHAPTER 5 7) A sample of 40 oil industry executives was selected to test a questionnaire. One question about environmental issues required a yes or no answer. a) What is the experiment? A value between zero and one describing the relative possibility an event will occur. b) List one possible event. More than half of the oil industry executives will answer yes. c) Ten of the 40 executives responded yes. Based on these sample responses, what is the probability that an oil industry executive will respond yes? (10/40) = .25 d) What concept of probability does this illustrate? Empirical e) Are each of the possible outcomes equally likely and mutually exclusive? The possible outcomes are not equally likely but mutually exclusive. 26) All seasons plumbing has two service trucks that frequently need repair. If the probability the first truck is available is .75, the probability the second truck is available is .50, and the probability that both trucks are available is .30, what is the probability neither truck is available? (.75 + .50 - .30) = .95 29) Each salesperson at Puchett, Sheets, and Hogan Insurance agency is rated either below average, average, or above average with respect to sales ability. Each salesperson is also rated with respect to his or her potential for advancement –
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chap 5 - CHAPTER 5 7) A sample of 40 oil industry...

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