Excel hw

1.     Lauren drinks a variety of soft drinks. Over the past month, she has had 15 diet colas, 4 cans of lemonade, and 6 cans of root beer in no particular order or patter.

a.     Given this history, what is the probability that her next drink will be a diet cola? Lemonade? Root beer?

b.     What definition of probability did you use to answer this question?

2.     A market research company surveyed consumers to determine their ranked preferences of energy drinks among the brands Monster, Red Bull, and Rockstar.

a.     What are the outcomes of this experiment for one respondent?

b.     What is the probability that one respondent will rank Red Bull first?

c.     What is the probability that two respondents will both rank Red Bull first?

3.     A survey of 200 college graduates who have been working for at least 3 years found that 90 owned only mutual funds, 20 owned only stocks, and 70 owned both.

a.     What is the probability that has an individual owns either a stock or a mutual fund?