PROBLEM 1 - PROBLEM 1 (Probability) 1. Suppose that 25% of...

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PROBLEM 1 ( Probability) 1. Suppose that 25% of the population in a given area is exposed to a television commercial for Ford automobiles, and 34% is exposed to Ford’s radio advertisements. Also, it is known that 10% of the population is exposed to both means of advertising. If a person is randomly chosen out of the entire population in this area, what is the probability that he or she was exposed to at least one of the two modes of advertising? 2. A firm has 550 employees; 380 of them have had at least some college education, and 412 of the employees underwent a vocational training program. Furthermore, 357 employees both are college-educated and have had the vocational training. If an employee is chosen at random, what is the probability that he or she is college-educated or has had the training or both? 3. A quality control engineer knows that 10% of the microprocessor chips produced by a machine are defective. Out of a large shipment, five chips are chosen at random. What is the probability that none of them is defective? What is the probability that at least one is defective? Explain.
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This note was uploaded on 07/16/2011 for the course ECON 5 taught by Professor Den during the Three '11 term at Australian National University.

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PROBLEM 1 - PROBLEM 1 (Probability) 1. Suppose that 25% of...

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