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Statistics Question

Question
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Step 1

a).

It is given that the odds in favour of event A is n:m. The probability of event A can be derived as follows.

Р(4)
т 1-Р(А)
п-пР(4) -тР(4)
п3тP(А)+ nР(4)
п- (п+т)P(4)
п
Р(4)
п+m
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Р(4) т 1-Р(А) п-пР(4) -тР(4) п3тP(А)+ nР(4) п- (п+т)P(4) п Р(4) п+m

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Step 2

b).

It is given that the odds of making a sale on a single call is 2:15.

Let S be the event of making a call.

The probability of a successful ...

2
P(S)=2+15
2
17
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2 P(S)=2+15 2 17

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Advanced Topics in Statistics

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