math 3

BUSA 2183 Introduction to Business Statistics

Summer 2019 –Session II

Short Exercise 5 (25 points)

IMPORTANT: In any question, if there is a calculation, first provide the formula and then show your calculations for your answers.

Please, provide your answers under each question.

Question 1 (Short Exercise 3 in the book) (3 points)

A survey of 34 students at the Wall College of Business showed the following majors:

Accounting	10
Finance	5
Economics	3
Management	6
Marketing	10

From the 34 students, suppose you randomly select a student.

What is the probability he or she is a management major?

Question 2 (Short Exercise 13 in the book) (4*2=8 points)

A study of 200 advertising firms revealed their income after taxes:

Income after Taxes	Number of Firms
Under $1 million	102
$1 million to $20 million	61
$20 million or more	37

a. What is the probability an advertising firm selected at random has under $1 million in income after taxes?

b. What is the probability an advertising firm selected at random has either an income between $1 million and $20 million, or an income of $20 million or more? What rule of probability was applied?

Question 3 (Short Exercise 27 in the book) ( 3*3=9points)

Refer to the following table.

	First Event
Second Event	A1	A2	A3	Total
B1	2	1	3	6
B2	1	2	1	4
Total	3	3	4	10

a. Determine P(A1).

b. Determine P(B1 | A2).

c. Determine P(B2 and A3).

Question 4 (Short Exercise 35 in the book) (2.5 points)

A pollster randomly selected 4 of 10 available people. How many different groups of 4 are possible?

Question 5 (Short Exercise 37 in the book) ( 2.5 points)

An overnight express company must include five cities on its route. How many different routes are possible, assuming that it does not matter in which order the cities are included in the routing?