Question 998673: 1. Subjective probabilities are assigned to each of the possible outcomes of a construction project: P(Profit at 10M) =0.4, P(Profit at 0.5M)=0.2, P(Breakeven)=0.2, P(Loss at 2M)=0.3. Are these probability assignments valid? Why or why not.
2. Based on the following results from a recent survey for a telecommunication company, would you say that it is equally likely for customers of this company to access customer service through each of the four different channels? In terms of customer service, what is the implication for the company from a staffing perspective?
Channel Preferred choice for customer service
1-800 number to the call centre 345
Email 216
Online Chat 84
Visit to a store 143
3. What is wrong with the following statements? Please explain.
a. P(A) = -0.3
b. P(Ac)=0.6 given that P(A) = 0.3
c. P(A or B) = 0.7 if P(A) =0.4 and P(B) =0.3
d. P(A and B) is always greater than 0
4. Given that P(A)=0.64, P(B)=0.42 and P(A and B) = 0.3, calculate the following:
a. P(Bc)
b. P(A or B)
c. P(the complement of the event “A and B”)
d. P(A|B)
e. P(B|A)
f. Are Events A and B independent? Please use probabilities to justify your answer.
5. The following table is a summary of employee research conducted at ABC Inc. It is believed that employees randomly selected to participate in the research are representative of all company employees. If an employee (a woman) is randomly selected, answer the questions below:
Is the company a good place to work?
Region Yes No
A 145 23
B 267 56
6.
Suggestion: Develop a joint probability table and use it to answer the questions. You do not need to present the table in the assignment.
a. What is the probability that she is from Region A?
b. What is the probability that she thinks that the company is a good place to work?
c. What is the probability that she is from Region B and thinks that the company is a good place to work?
d. What is the probability that she is from Region A or does not think that the company is a good place to work?
e. What is the probability that she is from Region A if she thinks that the company is a good place to work?
f. What is the probability that she thinks that the company is a good place to work given that she is from Region B?
7. Market research for an online electronics retailer showed that 23% of its customers purchased a smart phone. 12% of these smartphone customers used an online payment system (such as Paypal) to pay for their purchases, i.e., given that a customer purchased a smart phone, the probability was 12% that he/she used an online payment system to pay. In general, 8% of the customers used an online payment system to pay for their purchases.
a. What percent of customers did not purchase a smart phone?
b. What percent of customers purchased a smart phone and used an online payment system to pay?
c. What percent of customers purchased a smart phone or used an online payment system to pay?
d. Are the events “purchased a smart phone” and “used an online payment system to pay” mutually exclusive? Why or why not.
e. Are the events “purchased a smart phone” and “used an online payment system to pay” independent? Use probabilities to justify your answer.
8. 3% of babies in a remote community have a certain blood condition. A new medical test was recently developed to screen babies for this condition. Based on research results, if a baby has the condition, the test correctly identifies the baby as having the condition 90% of the time. On the other hand, if a baby does not have the condition, the test incorrectly identify the baby as having the condition 12% of the time. Let A be the event that a baby has the condition, B be the event that the medical test identifies the baby of having the condition.
a. What are P(A) and P(Ac)?
b. What are P(B|A) and P(B|Ac)?
c. If a baby is identified by the medical test as having the condition, what is the probability he/she does not have the condition. (Suggestion: To think through the problem, use a probability tree and whether a baby has the condition as the first step to depict what is given. Use the Bayes Theorem to calculate the probability in question. You do not need to include the tree in your submission.)
Answer by ikleyn(52847)   (Show Source):
You can put this solution on YOUR website! .
Hello,
the school math problem should go in 3 lines.
OK, as a maximum, in 4.
I doubt if does exist somebody who is able to read this.
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