Summary
Summary OPMT1130 ALL NOTES + Midterm/Final
- Course
- OPMT1130
- Institution
- British Columbia Institute Of Technology (BCIT )
OPMT1130 ALL NOTES + Midterm/Final
[Show more]
Seller
Follow
Content preview
OPMT 1197Business Statistics
Lecture 4: Basic Probability Concepts
1. Determine the following probabilities:
(a) Drawing either an Ace or a Spade from a well-shuffled deck of 52 cards?
(b) Drawing either a Red Ace or a Spade? (c) Drawing neither an Ace nor a Spade?
Solutions: 1. (a) 16/52 (b) 15/52 (c) 36/52
Multiplication Law and Independent Events
1. You flip a coin twice. What is the probability of obtaining heads on both flips?
2. You roll a pair of six-sided dice. Find the probability that both die rolled come up 5’s.
3. You roll one six-sided die. Find the probability of rolling either a 2 or a 5.
4. From its TV studio’s in Bountiful, Reality TV is marketing a new reality TV series called
“Who Wants To Marry a Bigamist”. In the exciting final episode the bigamist will ask the
final two contestants, Agnes and Bertha, to marry him. The executives have determined that
there is a 40% chance that Agnes will say yes and a 50% chance that Bertha will say yes.
(a) If Agnes and Bertha act independently, what is the probability that at least one of the
women will say yes?
(b) What is the probability of neither of the women saying yes?
5. You draw 2 cards from a well-shuffled deck of 52 cards. Find the probability that both cards
are Aces if the first card drawn is (a) replaced (b) not replaced.
Solutions: 1. 1/4 2. 1/36 3. 2/6 4. (a) 0.70 (b) 0.30 5. (a) 4/52×4/52 (b) 4/52×3/51
Lab Exercises Textbook Reading 4.1, 4.2 (skip Baye’s Theorem)
1. The manager of a Marvin Gardens, a large apartment complex, provides the following
probabilities to estimate the number of vacancies that will exist next month:
Vacancies Probability
0 0.05
1 0.15
2 0.35
3 0.25
4 0.10
5 0.10
A: Are these valid probability assignments?
B: Find the probability there are (a) no vacancies? (b) at least 4 vacancies? (c) at most 2?
2. If the probabilities are 0.05, 0.14, 0.17, 0.33, 0.20 and 0.11 that consumers will rate a new
product: very poor, poor, fair, good, very good, or excellent, respectively, what are the
probabilities that a consumer selected at random will rate the new product:
(a) very poor or poor? (b) good, very good, or excellent?
(c) good, if you know that the rating is in the group (good, very good or excellent) above?
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller ungieratoskar. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for CA$10.88. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
77254 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now