award his $750‚000 in damages; or 3) the jury will conclude that George has a strong case and award him the full amount of $1‚500‚000. DCH’s lawyers believe the probability that George will accept the counteroffer of $400‚000 is 0.10‚ the probability that George will reject the counteroffer of $400‚000 is 0.40‚ and the probability that George will‚ himself‚ make a counteroffer to DCH of $600‚000 is 0.50. If the case goes to court‚ they
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Unit 2 – Probability and Distributions Leah Lopez American InterContinental University Abstract Within this email‚ I will cover different probabilities within your company. This information can help you to understand whether or not your employees are satisfied with their jobs or not. Also within the results of this survey‚ you will find that your employees are not distributed equally in terms of gender. Memo To: AIU From: Leah Lopez Date: November 13‚ 2012 Subject: Survey of
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normal continuous distribution that our text book discusses. This means that the curve of the line will extend infinitely in both the negative and positive direction in exact mirror image patterns on either side of the mean. For a normal probability distribution‚ is about 95 percent of the area under normal curve within plus and minus two standard deviations of the mean and practically all (99.73 percent) of the area under the normal curve is within three standard deviations of the mean?
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the probabilities of the system components operating properly. The entire system operates if assembly III and at least one of the components in each of assemblies I and II operates. Assume that the components of each assembly operate independently and that the assemblies operate independently. What is the probability that the entire system operates? 0.9 0.9 0.8 0.8 0.7 I II III 0.95 Solution: P = [1-(1-0.9)*(1-0.8)*(1-0.7)]* [1-(1-0.9)*(1-0.8)] *0.95=0.925414 2. How is the probability of system
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Explain the parts of a decision tree. There are three parts of a decision tree. They are decision nodes (squares)‚ probability nodes (circles)‚ and decision alternatives (branches). 2.What are some benefits of using decision trees? Decisions trees force you to consider as many possible outcomes of a decision. They can provide the framework to consider the probability and payoffs of decisions‚ which can help one‚ analyze a decision to make the most inform decision possible. 3.In
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213 Problem Set Solve each of the following problems. 1. A coin is tossed four times. What is the probability that at least 2 heads will occur? 2. A pair of dice is rolled. What is the probability that the sum is equal to the following? a. 5 b. 10 c. at most 9 d. at least 8 3. A chip is drawn at random from a jar containing 8 red‚ 2 blue‚ 3 green‚ 4 yellow‚ and 3 white chips. Determine the probability that it is: a. Red b. Yellow or red c. Not orange 4. In a graduating class of 300 students‚ 162 studied
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what is the probability that he/she b) has high blood pressure (event A)? c) has high level of cholesterol(event B)? d) has high blood pressure and high level of cholesterol (event A and B)? e) has either high blood pressure or high level of cholesterol (event A or B)? f) Use the above to check the probability formula: P(A or B) = P(A) + P(B) - P(A and B). 2. A committee of 5 people is to be formed randomly from a group of 10 women and 6 men. Find the probability that the committee
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coined the term probability‚ or probabilis? (Latin: probabilis credible) Cicero’s principal legacy in the field of randomness is the term he used‚ probabilis‚ which is the origin of the term we employ today. But it is one part of the Roman code of law‚ the Digest‚ compiled by Emperor Justinian in the sixth century‚ that is the first document in which probability appears as an everyday term of art 2. What is the rule for compounding probabilities? How to compute probability that one event and
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Nicolas Liao Alan Chen Cheng-Chieh Chao Decision Basis Information Probability of rain‚ mold formation‚ acidity‚ sugar level‚ wine price‚ reputation value‚ detector accuracy‚ spores effectiveness‚ immigration law Mr. Jaeger’s Alternatives Harvest now or later Use detector or not Buy spores or not Sell in bottle or bulk Mr. Jaeger’s Preferences Prefers more money than less Cares about reputation Uncertainties Probability of rain‚ mold formation‚ acidity‚ sugar level Decision Diagram
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Assignment Q1Find the parameters of binomial distribution when mean=4 and variance=3. Q2. The output of a production process is 10% defective. What is the probability of selecting exactly two defectives in a sample of 5? Q3. It is observed that 80% of television viewers watch “Boogie-Woogie” Programme. What is the probability that at least 80% of the viewers in a random sample of five watch this Programme? Q4. The normal rate of infection of a certain disease in animals is known to
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