The Security Company in charge of rescuing visitors in the case of problems at “High Mountain Natural Park” in South Bekaa area has the intention to purchase special trained dogs to help their rescue team, so that they can conduct their search for lost people more efficiently. The rescue team is composed of 10 employees and the company is going to provide each of them with a trained dog. Two types of dogs were selected. The German Shepherd dog breed and the Belgium Malinois breed. The cost of the Belgium Malinois dog breed is $550,00 per dog, while the German Shepherd dog breed is at $850,00 each. For budget reason, the number of German Shepherd dog should be less than half the number of Belgium Malinois. For technical reason, at least three German Shepherd dog must be purchased to get advantage of the special performance of such dog breed in their particular capacity to search for lost person in all weather and under heavy conditions. The overall budget is $6500,00. All of these are goals that the company has identified, with NO priorities. a) Solve the problem using the graphical approach.
Addition Rule of Probability
It simply refers to the likelihood of an event taking place whenever the occurrence of an event is uncertain. The probability of a single event can be calculated by dividing the number of successful trials of that event by the total number of trials.
Expected Value
When a large number of trials are performed for any random variable ‘X’, the predicted result is most likely the mean of all the outcomes for the random variable and it is known as expected value also known as expectation. The expected value, also known as the expectation, is denoted by: E(X).
Probability Distributions
Understanding probability is necessary to know the probability distributions. In statistics, probability is how the uncertainty of an event is measured. This event can be anything. The most common examples include tossing a coin, rolling a die, or choosing a card. Each of these events has multiple possibilities. Every such possibility is measured with the help of probability. To be more precise, the probability is used for calculating the occurrence of events that may or may not happen. Probability does not give sure results. Unless the probability of any event is 1, the different outcomes may or may not happen in real life, regardless of how less or how more their probability is.
Basic Probability
The simple definition of probability it is a chance of the occurrence of an event. It is defined in numerical form and the probability value is between 0 to 1. The probability value 0 indicates that there is no chance of that event occurring and the probability value 1 indicates that the event will occur. Sum of the probability value must be 1. The probability value is never a negative number. If it happens, then recheck the calculation.
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