Solutions Tutorial 5 - 3 are accounting majors. If the...

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Tutorial 5     1. An Internal Revenue Service (IRS) inspector is to select 4 corporations from a list of 12 for tax audit purposes. Of the 12 corporations, 5 earned profits and 7 incurred losses during the year for which the tax returns are to be audited. If the IRS inspector decides to select 4 corporations randomly, find the probability that the number of corporations in these 4 that incurred losses during the year for which the tax returned are to be audited is a. exactly 3 ; b. at most 1 ; c. none . Solution: N=12 n=4 r=7 N-r=5 a) p(x=3)= n N x n r N x r C C C - - = 4 12 1 5 3 7 C C C = ! 8 ! 4 ! 12 ! 4 ! 1 ! 5 ! 4 ! 3 ! 7 = 495 5 35 =0.354 b) p(x 1)= = = + = ) 1 ( ) 0 ( x P x P 4 12 3 5 1 7 4 12 4 5 0 7 C C C C C C + = 152 . 0 495 75 ! 8 ! 4 ! 12 ! 2 ! 3 ! 5 ! 6 ! 1 ! 7 ! 8 ! 4 ! 12 ! 1 ! 4 ! 5 ! 7 ! 0 ! 7 = = + c) p(x=0)= 4 12 4 5 0 7 C C C = ! 8 ! 4 ! 12 ! 1 ! 4 ! 5 ! 7 ! 0 ! 7 = 495 5 =0.01 d) 2. Almaty Telecom Company has prepared a final list of 7 candidates for 2 positions. Of the seven candidates, 4 are finance majors and

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Unformatted text preview: 3 are accounting majors. If the company manager decides to select randomly 2 candidates from this list, find the probability that a. both candidates are finance majors, b. neither of the two candidates is a finance major, c. at most one of the candidates is a finance major. Solution: N=7 n=2 r=4 N-r=3 a) p(x=2)= 2 7 3 2 4 C C C ⋅ = ! 5 ! 2 ! 7 ! 3 ! ! 3 ! 2 ! 2 ! 4 ⋅ = 21 1 6 ⋅ =0.286 b) p(x=0)= 2 7 2 3 4 C C C ⋅ = ! 5 ! 2 ! 7 ! 1 ! 2 ! 3 ! 4 ! ! 4 ⋅ = 21 3 1 ⋅ =0.143 c) p(x ≤ 1)= = = + = ) 1 ( ) ( x P x P 2 7 1 3 1 4 2 7 2 3 4 C C C C C C ⋅ + ⋅ =0.143+ ! 5 ! 2 ! 7 ! 2 ! 1 ! 3 ! 3 ! 1 ! 4 ⋅ =0.143+ 21 3 4 ⋅ =0.143+0.571=0.714...
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This note was uploaded on 03/11/2012 for the course FIN FIN 3230 taught by Professor Petrivanov during the Spring '12 term at Kazakhstan Institute of Management, Economics and Strategic Research.

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Solutions Tutorial 5 - 3 are accounting majors. If the...

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