You are modeling a qualitative variable that takes on two classes (classes 1 and 2). In trying to classify observation 11 (out of 20) you compute the conditional probability for class 1 as 0.51. How would you classify this observation?
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- A biometric security device using fingerprints erroneously refuses to admit 3 in 1,500 authorized persons from a facility containing classified information. The device will erroneously admit 3 in 1,005,000 unauthorized persons. Assume that 98 percent of those who seek access are authorized. If the alarm goes off and a person is refused admission, what is the probability that the person was really authorized?An investor considers investing $17,000 in the stock market. He believes that the probability is 0.22 that the economy will improve, 0.42 that it will stay the same, and 0.36 that it will deteriorate. Further, if the economy improves, he expects his investment to grow to $23,000, but it can also go down to $11,000 if the economy deteriorates. If the economy stays the same, his investment will stay at $17,000. What is the expected value of his investment?Please give solution in correct and step by step answer format thanku Explaniation Please!!! Five people go to the supermarket to buy milk. Each person is equally likely to select (independently) from ten different brands available. Find the probability that they each select: (a) A different brand. (b) The same brand.
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