Worksheet 5: Probability II

Summary of Marketing Plan for Online MBA Programs Executive Summary An increasing number of business professionals choose to earn their MBAs through the internet. Pursuing an MBA is a great accomplishment. Many undergraduate students graduate and move on to pursue their Masters Degree in their desired field. This marketing plan illustrates the market segments and the strategies of employing to get customers and create a solid revenue stream. Our unique focus is creating opportunities for the fulltime working student that is not able to go to a campus for classes. A twist that gives us an advantage over our competitors is by giving students more options of what is available in picking from a larger selection of majors. From

a randomly selected adult weighs less than 190 pounds. a. 0.8664 b. 0.0668 c. 0.4332 d. 0.9332 10 . Eighteen percent of men prefer brand A of a certain product. Suppose 5 men are

P(x=0) | 0.0009766 | | P(x=6) | 0.205078 | P(x=1) | 0.0097656 | | P(x=7) | 0.117188 | P(x=2) | 0.0439453 | | P(x=8) | 0.0439453 | P(x=3) | 0.117188 | | P(x=9) | 0.0097656 | P(x=4) | 0.205078 | | P(x=10) | 0.0009766 | P(x=5) | 0.246094 | | | | 4. Give the probability for the following based on the MINITAB calculations with the probability of a success being ½. (Complete sentence not necessary)

P(X=4)+P(X=5) = 0.21+0.26 = 0.47   Probability Ch. 4 Q 8 Assume that X is a binomial random variable with n = 27 and p = 0.92. Calculate the following probabilities. (Round your intermediate and final answers to 4 decimal places.)

A.84.7% B.63.5% x 0 1 2 3 4 5 6 P (X=x) 0.55 0.15 0.10 0.10 0.04 0.03 0.03 Find P(X > 0). Place your answer, rounded to two decimal places in the blank. For example, 0.56 would be a legitimate entry. 0.45

this sample, it can be concluded that the average age of all the Furthermore, events A and B are mutually exclusive. Which of the following statements is also true? A. A and B are also independent. B. P(A or B) = P(A)P(B) C. P(A or B) = P(A) + P(B) D. P(A and B) = P(A) + P(B) 15. Twenty-five percent of the employees of a large hospital are minorities. A random sample of 7 employees is selected. A. B. C. D. E. 16. What is the probability that the sample contains exactly 4 minorities? ____ What is the probability that the sample contains fewer than 2 minorities? ____ What is the probability that the sample contains exactly 1 non-minority? ____ What is the expected number of minorities in the sample? ______ What is the variance of the minorities? _______ Select from the answers below. Place the correct letter in the blanks above. A. 0.5551 B. 1.1456 C. 0.4449 D. 0.0013 E. 1.7226 F. 1.3125 G. 0.0577 H. .0001 I. 1.75 J. 0.0286 The life expectancy of a lung cancer patient treated with a new drug is normally

iPhone Non-iPhone Total Male 57 23 80 Female 36 18 54 Total 93 41 134 If a customer is randomly selected based on this survey data, what is the probability that the customer is a female with an iPhone? (Round your answer to 3 decimal places).

Because of the Fair Credit Billing Act, individuals have more purchase protection using a credit card than with cash or a debit card (Williams, n.d.). Importance of this protection occurs when there are reasons to dispute charges such as when merchandise is not received, identity theft has occurred, or items are not charged correctly (Williams, n.d.). In addition, credit cards are invaluable in emergency situations from vehicle repairs to health issues (Williams, n.d.).

A. 111 B. 37 C. 74 D. 75% 15) The National Center for Health Statistics reported that of every 883 deaths in recent years, 24 resulted from an automobile accident, 182 from cancer, and 333 from heart disease. Using the relative frequency approach, what is the probability that a particular death is due to an automobile accident?

           0                 0.25            0.60             1           a. This event is certain and will happen every time.1           b. This event will happen more often than not. 0.60           c. This event will never happen. 0           d. This event is likely and will occur occasionally. 0.25 9. Flip a coin 25 times and keep track of the results. What is the experimental probability of landing on tails? What is the theoretical probability of landing on heads or tails?

28. The Polo Development Firm is building a shopping center. It has informed renters that their rental spaces will be ready for occupancy in 19 months.  If the expected time until the shopping center is completed is estimated to be 14 months, with a standard deviation of 4 months, what is the probability that the renters will not be able to occupy in 19 months?

Each year there is an increase in demands for plastic bags, and therefore more are shipped, creating further environmental pollution concerns. This increase in demand has lead to the phenomenal upsurge in the use and misuse of plastic bags globally, both in developed and developing countries. Statistics show that 4 to 5 trillion plastic bags are produced per annum, whereby North America and Western Europe account for nearly 80% (Geographical, 2005; Reusable Bags, 2005). Cheeseman (2007) states that approximately “380 billion plastic shopping bags are used in the United States annually”; in turn, only 0.6% of this is recycled.

Continuing with our topic of plastic over consumption and the market, we move on from policy valuation methods to conducting a benefit cost analysis on available strategies. Regulatory impact assessments, or benefit-cost analyses, are sophisticated analytical tools for measuring the benefits and costs associated with a proposed regulation, policy initiative or project, while also evaluating other tradeoffs, such as potential job losses, and other societal impacts. We will narrow down all the possible strategies for reducing plastic consumption, using this as an opportunity to discuss the extreme of government regulation. A market ban on plastic.

 The second question is based on the World Bank's proposal to reduce the proportion of government ownership of 33% of plastic shopping bags. In answering this question 86% of the respondents expressed their views just because they believe it will automatically reduce the operational level of unfair political

Master Card : Card start with No.51 and 55 Diners Club : Card number beginning 36 or 38 Amex Ex : Card number beginning 34 or37 [pic] Progress in civilization in its turn has brought out radical changes in the manner of trading. The need for something intrinsically useful and easily applicable in everyday dealing is clearly felt. Cash in the form of currency notes and coins makes up just one form of the payment system. Development in banking while also giving inputs to the further development of cash brought about a second phase in payment namely paper instructions such as cheques and credit transfers. The requirement for greater flexibility and convenience has led to electronic payments, and this is where plastic cards have proved their worth. It allows the card issuers to limit the sum of money the card-holders wish to spend. The spending of card-holders who have defaulted on payments or who are over their credit limit can be restricted until the balances are cleared.