Quiz 2 FA 04 KEY - ECON 2843 Quiz 2 Fall 2004 Name ID # KEY...

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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
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This note was uploaded on 04/07/2008 for the course ECON 2843 taught by Professor Hudgins during the Spring '08 term at The University of Oklahoma.

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Quiz 2 FA 04 KEY - ECON 2843 Quiz 2 Fall 2004 Name ID # KEY...

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