ECON 2843
Name
KEY
Quiz 2
Fall 2004
ID #
Students must show all work on problems that involve calculation.
Questions 1  3 refer to the following table, which gives the joint probability distribution for workers
and shifts at Flex Furniture Company.
Shift
1
2
3
Total
Worker
Male
.32
.27
Female
.15
.25
.01
Total
.25
1.
What is the probability that a randomly selected worker will work on shift 1 ?
a.
.07
b.
.15
c.
.32
d.
.47
*
e.
.681
2.
If a shift 3 worker is randomly selected for drug testing, what is the probability that the worker
will be a female?
a.
.01
b.
.024
c.
.0357
*
d.
.41
e.
1.2
3.
If an employee is selected at random, what is the probability that the person will be a male
working on shift 2?
a.
0
*
b.
.12
c.
.25
d.
.414
e.
.5
4.
An investor is selecting stocks for a portfolio using a
Select 5
strategy, where the 5 stocks
that pay the highest dividends are selected from among the 30 stocks that make up the
Dow Jones Industrial Index.
How many possible orderings are possible?
17,100,720
1
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Questions 5 – 7 refer to the following.
In 2003, data were collected from the population of elderly
residents in an Oklahoma town.
20 percent of the elderly residents got the flu.
Of those
residents who did not get the flu, 53.75 percent took the flu shot. Two percent of these residents
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 Spring '08
 HUDGINS
 Influenza vaccine, flu, A. B.

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