This problem involves empirical probability. The table shows the breakdown of 95 thousand single parents on active duty in the U.S. military in a certain year. All numbers are in thousands and rounded to the nearest thousand. Use the data in the table to find the probability that a randomly selected single parent in the U.S. military is in the Army. Male Female Total Army 24 10 34 Navy 27 8 35 Marine Corps 5 1 6 Air Force 14 6 20 Total 70 25 95

This problem involves empirical probability. The table shows the breakdown of 95 thousand single parents on active duty in the U.S. military in a certain year. All numbers are in thousands and rounded to the nearest thousand. Use the data in the table to find the probability that a randomly selected single parent in the U.S. military is in the Army. Male Female Total Army 24 10 34 Navy 27 8 35 Marine Corps 5 1 6 Air Force 14 6 20 Total 70 25 95

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter2: Mathematics For Microeconomics

Section: Chapter Questions

Problem 2.15P

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An IBD/TIPP poll conducted to learn about attitudes toward investment and retirement asked male and female respondents how important they felt level of risk was in choosing a retirement investment. The following survey result was construed from the data of 500 respondents. "Important" means the respondent said level of risk was either important or very important. Important Not Important Total Male 150 132 282 Female 210 108 318 Total 360 240 500 a. Construct a probability table. b. What is the probability that a survey respondent will say level of risk is important? C. What is the probability a male survey respondent will say level of risk is important? d. What is the probability a female survey respondent will say level of risk is important? e. Do male and female attitudes toward risk differ? Hint: check if the level of risk is independent to the gender of the respondent.
Brain tumors in children are rare: the base rate is only about 1/10,000. A child with a tumor is very likely to have occasional headaches: 99 out of 100 do. But there are many other reasons a child can have a headache: of those who do not have a tumor, 1 in 10 have occasional headaches. 1. Given that a child has occasional headaches (H), what it the probability that he or she has a brain tumor (T)? Show your work. 2. Name a behavioral bias that may occur when estimating the probability that your child has a brain tumor. Would this bias lead to under-or-overestimate that probability? Explain. 3. Among children with headaches (H), 999/1000 will ultimately be fine (F). Suppose that a physician using a simple test can correctly determine whether the child is fine or not in 95/100 of children with headaches. Given that the doctor after performing the test gives the patient a green light (G), what is the probability that the child really will be fine? Show your work.. Page 1 of 1 175 words…
An individual has 40,000 in income per year. The person will get sick with probability 0.1. If he does get sick, the medical bills will total 30,000. The following tables shows the utility derived from certain amounts of income: Income Utility40,000 20037,000 19535,000 19030,000 17020,000 14010,000 100Considering the probability of illness, what is the expected utility of income without insurance? Show your work.
The following table shows the number of students at a college who were offered teaching positions before graduation. Determine the probability of each event assuming that one of the students represented in the table is randomly selected. Offer No Offer Female 52 32 Male 75 27 Enter answers in fraction form. a. Student is a male who received a teaching position offer. The probability is b. Student is a female, and she did not receive a teaching position offer. The probability is c. Student received a teaching position offer or is a female. The probability is
The U.S. Census Bureau serves as the leading source of quantitative dataabout the nation's people and economy. The following crosstabulationshows the number of households (1000s) and the household income by the highest level of education for the head of household (U.S. Census Bureau website, 2013). Only households in which the head has a high school diploma or more are included. a. Develop a joint probability table.b. What is the probability of the head of one of these householdshaving a master's degree or more education?c. What is the probability of a household headed by someone with ahigh school diploma earning $100,000 or more: d. What is the probability of one of these households having anincome below $25,000?e. What is the probability of a household headed by someone with abachelor's degree earning less than $25,000?f. Is household income independent of educational level?
JUST ANSWER SUBPART 1 There are two individuals, Individual A and Individual B. Individual A has an income (Y) of 500 million Rupiah per year. If Individual A is sick, he will lose 25% of his income. Meanwhile, Individual B has an income (Y) of 100 million Rupiah per year, and if Individual B is sick, he will lose 75% of his income. The probability of Individual A and Individual B being sick is the same, which is 10%. If the satisfaction level of Individual A and Individual B is determined by their income level, based on the following function U(Y)=ln Y, would Individual A and Individual B prefer not to have health insurance? Explain Faced with fair actuarially insurance, how much premium is offered to Individual A? Is the premium rate offered the same for Individual B? Explain with the support of graphic illustrations. The government decides to provide compulsory health insurance with a premium rate for Individual A and Individual B, which is 2% of the income of each individual. In…
In the game of blackjack as played in casinos in Las Vegas, Atlantic City, and Niagara Falls, as well as in many other cities, the dealer has the advantage. Most players do not play very well. As a result, the probability that the average player wins a hand is about 45%. Find the probability that an average player wins. a.Twice in 5 hands. b. Ten or more times in 25 hands. Arrivals 0 1 2 3 4 5 6 7 8 Frequency 14 31 47 41 29 21 10 5 2
A film distribution manager calculates that 9% of the films released are flops. If the manager is right, what is the probability that the proportion of flops in a sample of 506 released films would differ from the population proportion by greater than 3%? Round your answer to four decimal places.
According to a recent Wall Street Journal article, about 2% of new US car sales are electric vehicles (data from Edison Electric Institute reported by Jinjoo Lee, "Peak Oil? Not This Year. Or This Decade," January 9, 2021 pg. B12). Suppose a company has 111 employees who drive new cars (separately) to work each day. What is the probability that at least one of them will drive an electric car? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
A CBS News/New York Times poll of 1,000 adults in the United States asked the question, "Do you think global warming will have an impact on you during your lifetime?" (CBS News website). Consider the responses by age groups shown below. Age Response 18-29 30+ Yes 134 293 No 131 432 Unsure 2 8 a. What is the probability that a respondent 18-29 years of age thinks that global warming will not have an impact during his/her lifetime (to 4 decimals)? b. What is the probability that a respondent 30+ years of age thinks that global warming will not have an impact during his/her lifetime (to 4 decimals)? c. For a randomly selected respondent, what is the probability that a respondent answers yes (to 3 decimals)? d. Based on the survey results, does there appear to be a difference between ages 18-29 and 30+ regarding concern over global warming?
Employees of a local university have been classified according to gender and job type. Gender Job Male (M) Female (F) Faculty (FA) Salaried staff (SS) 110 10 30 50 Hourly staff (HS) 60 40 If an employee is selected at random, what is the probability that the employee is female, given that the employee is a salaried member of the staff? Select one: O A. 167 О в. 625 O C. 267 O D. 375 O E. 500