week3 - 1. A survey of 39 students at the Wall College of...

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1. A survey of 39 students at the Wall College of Business showed the following majors: Accounting 9 Finance 5 Economics 5 Managemen 9 Marketing 11 Suppose you select a student and observe his or her major. (a) What is the probability he or she is a management major? (Round your answer to 3 decimal places.) Probability (b) Which concept of probability did you use to make this estimate? Probability Empirical Explanation: a. .231, found by 9/39 2. In each of the following cases, indicate whether classical, empirical, or subjective probability is used. (a) A baseball player gets a hit in 42 out of 52 times at bat. The probability is .81 that he gets a hit in his next at bat. Empirical (b) A nine-member committee of students is formed to study environmental issues. What is the likelihood that any one of the nine is chosen as the spokesperson? Classical (c) You purchase one of 16 million tickets sold for Lotto Canada. What is the likelihood you
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win the $4 million jackpot? Classical (d) The probability of an earthquake in northern California in the next 14 years is .77. Empirical A sample of 43 oil industry executives was selected to test a questionnaire. One question about environmental issues required a yes or no answer. 3. Which of the following are possible events. (Select all that apply.) 41 people respond "Yes." 39 people respond "Yes." 24 people respond "No." 47 people respond "No." The questionnaire fails to reach one executive.
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This note was uploaded on 01/08/2012 for the course QM-2241 XTIB taught by Professor Stine during the Spring '09 term at Troy.

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week3 - 1. A survey of 39 students at the Wall College of...

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