QNT/351 week 3 team

IMPORTANT:

Showing your work and how you reached the answer is critical in receiving your grade...simply putting down values as the final answer will not earn you any points.

Week 3 LT Assignments

1. The events X and Y are mutually exclusive. Suppose P(X) _ .05 and P(Y) _ .02. What is the probability of either X or Y occurring? What is the probability that neither X nor Y will happen?

2. Let P(X) _ .55 and P(Y) _ .35. Assume the probability that they both occur is .20. What is the probability of either X or Y occurring?

3. Suppose P(X1) = .75 and P(Y2|X1) = .40. What is the joint probability of X1 and Y2?

4. Refer to the following table.

a. Determine P(A1).

b. Determine P(B1|A2).

c. Determine P(B2 and A3).

5. Berdine’s Chicken Factory has several stores in the Hilton Head, South Carolina, area. When interviewing applicants for server positions, the owner would like to include information on the amount of tip a server can expect to earn per check (or bill). A study of 500 recent checks indicated the server earned the following amounts in tips per 8-hour shift.

Amount of Tip Number

$0 up to $ 20 200

20 up to 50 100

50 up to 100 75

100 up to 200 75

200 or more 50

Total 500

a. What is the probability of a tip of $200 or more?

b. Are the categories “$0 up to $20,” “$20 up to $50,” and so on considered mutually exclusive?

c. If the probabilities associated with each outcome were totaled, what would that total be?

d. What is the probability of a tip of up to $50?

e. What is the probability of a tip of less than $200?