Are the events "income is under 20, 000 USD" and "attended University B" independent? a. What is the probability that a randomly selected graduate earns under 20, 000 USD? b. What is the probability that a randomly selected graduate earns under 20, 000 USD given they are from University B?
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- 2. Suppose that in Example 2.27, 400 units of food A, 500 units of B, and 600 units of C are placed in the test tube each day and the data on daily food consumption by the bacteria (in units per day) are as shown in Table 2.7. How many bacteria of each strain can coexist in the test tube and consume all of the food? Table 2.7 Bacteria Strain I Bacteria Strain II Bacteria Strain III Food A 1 2 0 Food B 2 1 3 Food C 1 1 1Second, the researcher wishes to use graphical descriptive methods to present summaries of the dataon each of the two variables: hours worked per week and yearly income, as stored in fileHOURSWORKED.xls. Hours Per Week Yearly Income ('000's) 18 43.8 13 44.5 18 44.8 25.5 46.0 11.5 41.2 18 43.3 16 43.6 27 46.2 27.5 46.8 30.5 48.2 24.5 49.3 32.5 53.8 25 53.9 23.5 54.2 30.5 50.5 27.5 51.2 28 51.5 26 52.6 25.5 52.8 26.5 52.9 33 49.5 15 49.8 27.5 50.3 36 54.3 27 55.1 34.5 55.3 39 61.7 37 62.3 31.5 63.4 37 63.7 24.5 55.5 28 55.6 19 55.7 38.5 58.2 37.5 58.3 18.5 58.4 32 59.2 35 59.3 36 59.4 39 60.5 24.5 56.7 26 57.8 38 63.8 44.5 64.2 34.5 55.8 34.5 56.2 40 64.3 41.5 64.5 34.5 64.7 42.3 66.1 34.5 72.3 28 73.2 38 74.2 31.5 68.5 36 69.7 37.5 71.2 22 66.3 33.5 66.5 37 66.7 43.5 74.8 20 62.0 35 57.3 24 55.3 20 56.1 41 61.5 a) The number of observations (n) is 65…The following data were taken from the annual reports of Big Bang Inc., a manufacturer of fireworks, and Orange Inc., a manufacturer of computers. Big Bang, Inc. Orange, Inc. Cost of goods sold $830,000 $11,540,000 Inventory, end of year 190,000 320,000 Inventory, beginning of year 240,000 290,000 What is the inventory turnover for Big Bang and Orange. a. Big Bang, Inc.: 3.86Orange, Inc.: 37.84 b. Big Bang, Inc.: 3.86Orange, Inc.: 9.65 c. Big Bang, Inc.: 94.55Orange, Inc.: 37.84 d. Big Bang, Inc.: 94.55Orange, Inc.: 9.65
- Suppose you are a production manager for a small firm that manufactures designer phone cases. Your production facility utilizes three machines. Quality is binary — each phone case is either defective or it is not defective. Each hour, Machines 1, 2, and 3 produce 10, 10 and 20 phone cases, respectively. But because the machines differ slightly in their technology, data on past production has shown that they differ in terms of their rates of defective output — specifically, Machines 1, 2, and 3 have rates of defective production of 2%, 4%, and 5%, respectively. If one phone case is selected randomly from one hour’s total output, and that phone case is found to be defective, what is the probability that it was produced by Machine 1? Machine 2? Machine 3?The researcher wishes to use graphical descriptive methods to present summaries of the dataon each of the two variables: hours worked per week and yearly income, as stored in file Hours Per Week Yearly Income ('000's) 18 43.8 13 44.5 18 44.8 25.5 46.0 11.5 41.2 18 43.3 16 43.6 27 46.2 27.5 46.8 30.5 48.2 24.5 49.3 32.5 53.8 25 53.9 23.5 54.2 30.5 50.5 27.5 51.2 28 51.5 26 52.6 25.5 52.8 26.5 52.9 33 49.5 15 49.8 27.5 50.3 36 54.3 27 55.1 34.5 55.3 39 61.7 37 62.3 31.5 63.4 37 63.7 24.5 55.5 28 55.6 19 55.7 38.5 58.2 37.5 58.3 18.5 58.4 32 59.2 35 59.3 36 59.4 39 60.5 24.5 56.7 26 57.8 38 63.8 44.5 64.2 34.5 55.8 34.5 56.2 40 64.3 41.5 64.5 34.5 64.7 42.3 66.1 34.5 72.3 28 73.2 38 74.2 31.5 68.5 36 69.7 37.5 71.2 22 66.3 33.5 66.5 37 66.7 43.5 74.8 20 62.0 35 57.3 24 55.3 20 56.1 41 61.5 a) The number of observations (n) is 65 individuals. The…