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QNT 561 Weekly Learning Assessments

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Chapter 5 Exercise 4

A large company must hire a new president. The Board of Directors prepares a list of five candidates, all of whom are equally qualified. Two of these candidates are members of a minority group. To avoid bias in the selection of the candidate, the company decides to select the president by lottery.

a. What is the probability one of the minority candidates is hired? (Round your answer to 1 decimal place.)

b. Which concept of probability did you use to make this estimate?

Chapter 5 Exercise 14

The chair of the board of directors says, "There is a 50% chance this company will earn a profit, a 30% chance it will break even, and a 20% chance it will lose money next quarter."

a. Use an addition rule to find the probability the company will not lose money next quarter. (Round your answer to 2 decimal places.)

b. Use the complement rule to find the probability it will not lose money next quarter. (Round your answer to 2 decimal places.)

Chapter 5 Exercise 22

A National Park Service survey of visitors to the Rocky Mountain region revealed that 50% visit Yellowstone Park, 40% visit the Tetons, and 35% visit both.

a. What is the probability a vacationer will visit at least one of these attractions? (Round your answer to 2 decimal places.)

b. What is the probability .35 called?

c. Are the events mutually exclusive?

Chapter 5 Exercise 34

P(A1) = .20, P(A2) = .40, and P(A3) = .40. P(B1|A1) = .25. P(B1|A2) = .05, and P(B1|A3) = .10.

Use Bayes' theorem to determine P(A3|B1). (Round your answer to 4 decimal places.)

Chapter 5 Exercise 40

Solve the following:

b. 9P3

c. 7C2

Chapter 6 Exercise 4

Which of these variables are discrete and which are continuous random variables?

a. The number of new accounts established by a salesperson in a year.

b. The time between customer arrivals to a bank ATM.

c. The number of customers in Big Nick's barber shop.

d. The amount of fuel in your car's gas tank.

e. The number of minorities on a jury.

f. The outside temperature today.

Chapter 8 Exercise 12

Scrapper Elevator Caompany has 20 sales representatives who sell its product throughout the United States and Canada. The number of units sold last month by each representative is listed below. Assume these sales figures to be the population values.

2 3 2 3 3 4 2 4 3 2 2 7 3 4 5 3 3 3 3 5

Click here for the Excel Data File