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Business Statistics

Question 1

1. Compute the weighted mean for the following data.

Question 2

2. If P(A) = 0.50, P(B) = 0.40, and P(A ∪ B) = 0.88, then P(B | A) =

Question 3

Six vitamin and three sugar tablets identical in appearance are in a box. One tablet is taken at random and given to Person A. A tablet is then selected and given to Person B. What is the probability that

3. Person A was given a vitamin tablet?

4. Person B was given a sugar tablet given that Person A was given a vitamin tablet?

5. neither was given vitamin tablets?

6. both were given vitamin tablets?

7. exactly one person was given a vitamin tablet?

8. Person A was given a sugar tablet and Person B was given a vitamin tablet?

9. Person A was given a vitamin tablet and Person B was given a sugar tablet?

· For these project assignments throughout the course you will need to reference the data in the ROI Excel spreadheet. Download it here.

Using the ROI data set:

1. For each of the 2 majors calculate the mean, median, minimum, maximum, range, and standard deviation for the columns ‘Cost’ and ’30-Year  ROI’.  

2. By hand or with Excel, for each of the 2 majors calculate the probability that a college picked from the column for ‘School Type’ is ‘Private’.

3. By hand or with Excel, for each of the 2 majors find the probability that a college with the ‘School Type’ ‘Private’ has a ’30-Year ROI’ between $1,500,000 and $1,800,000.