The following table shows the number of students at a college who were offered teaching positio before graduation. Determine the probability of each event assuming that one of the students represented in the table is randomly selected. Offer No Offer Female 52 32 Male 75 27 Enter answers in fraction form.
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- In the game of blackjack as played in casinos in Las Vegas, Atlantic City, and Niagara Falls, as well as in many other cities, the dealer has the advantage. Most players do not play very well. As a result, the probability that the average player wins a hand is about 45%. Find the probability that an average player wins. a.Twice in 5 hands. b. Ten or more times in 25 hands. Arrivals 0 1 2 3 4 5 6 7 8 Frequency 14 31 47 41 29 21 10 5 2An IBD/TIPP poll conducted to learn about attitudes toward investment and retirement asked male and female respondents how important they felt level of risk was in choosing a retirement investment. The following survey result was construed from the data of 500 respondents. "Important" means the respondent said level of risk was either important or very important. Important Not Important Total Male 150 132 282 Female 210 108 318 Total 360 240 500 a. Construct a probability table. b. What is the probability that a survey respondent will say level of risk is important? C. What is the probability a male survey respondent will say level of risk is important? d. What is the probability a female survey respondent will say level of risk is important? e. Do male and female attitudes toward risk differ? Hint: check if the level of risk is independent to the gender of the respondent.Suppose Eman has an 85% chance of passing each time he takes a quiz. What is the probability that he passes on the first three quizzes but not on the fourth?
- AsapThis problem involves empirical probability. The table shows the breakdown of 95 thousand single parents on active duty in the U.S. military in a certain year. All numbers are in thousands and rounded to the nearest thousand. Use the data in the table to find the probability that a randomly selected single parent in the U.S. military is in the Army. Male Female Total Army 24 10 34 Navy 27 8 35 Marine Corps 5 1 6 Air Force 146 20 Total 70 25 95 The probability that a randomly selected single parent in the U.S. military is in the Army is (Type an integer or decimal rounded to the nearest hundredth as needed.)A restaurant manager classifies customers as regular, occasional, or new, and finds that of all customers 50%, 40%, and 10%, respectively, fall into these categories. The manager found that wine was ordered by 70% of the regular customers, by 50% of the occasional customers, and by 30% of the new customers.a. What is the probability that a randomly chosen customer orders wine?b. If wine is ordered, what is the probability that the person ordering is a regular customer?c. If wine is ordered, what is the probability that the person ordering is an occasional customer?
- According to a recent Wall Street Journal article, about 2% of new US car sales are electric vehicles (data from Edison Electric Institute reported by Jinjoo Lee, "Peak Oil? Not This Year. Or This Decade," January 9, 2021 pg. B12). Suppose a company has 111 employees who drive new cars (separately) to work each day. What is the probability that at least one of them will drive an electric car? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.10. Calculate a joint probability given data: -Sample of 9000 firms. 6000 have CEO with Bachelor's degree, 2300 have CEO with Master's Degree, 700 have CEO with Ph. D. Find probability that a randomly selected CEO has a Bachelor's Degree or a Ph. D.An insurance company would like to offer theft insurance for renters. The policy wouldpay the full replacement value of any items that were stolen from the apartment. Someapartments have security alarms installed. Such systems detect a break-in and ring an alarmwithin the apartment. The insurance company estimates that the probability of a theft in ayear is .05 if there is no security system and .01 if there is a security system (there cannot bemore than one theft in any year). An apartment with a security system costs the renter anadditional £50 per year. Assume that the loss from a theft is £10,000 and that the insurancecompany is risk neutral and the renter would be willing to pay more than the expected loss toinsure against the loss of theft. What is the insurance company's break even price for a one year theft insurance policy for anapartment without a security system?
- Suppose the market for auto insurance is made of up two types of buyers: high-risk and low-risk. Buyers’ willingness to pay (WTP) for auto insurance plans, and sellers’ willingness to accept (WTA) when selling plans to each type of buyer, are outlined in a photo Assume now that there is asymmetric information and that insurance companies do not knowhow risky an individual buyer is. In the face of this uncertainty, they determine that the probability that a “walk-in” is high-risk is 0.75. What is the minimum price sellers are willing to accept when selling aninsurance plan? At this price, will low- and high-risk buyers both be willing to purchase this insurance plan? Explain. Be sure the mention adverse selection in your answer. Returning to the conditions outlined in Q1, suppose that buyers of auto insurance (high- and low-risk) were offered a $1,000 subsidy to purchase coverage. This would raise their WTP by $1,000. Would the market for both insurance plans clear after the…Brain tumors in children are rare: the base rate is only about 1/10,000. A child with a tumor is very likely to have occasional headaches: 99 out of 100 do. But there are many other reasons a child can have a headache: of those who do not have a tumor, 1 in 10 have occasional headaches. 1. Given that a child has occasional headaches (H), what it the probability that he or she has a brain tumor (T)? Show your work. 2. Name a behavioral bias that may occur when estimating the probability that your child has a brain tumor. Would this bias lead to under-or-overestimate that probability? Explain. 3. Among children with headaches (H), 999/1000 will ultimately be fine (F). Suppose that a physician using a simple test can correctly determine whether the child is fine or not in 95/100 of children with headaches. Given that the doctor after performing the test gives the patient a green light (G), what is the probability that the child really will be fine? Show your work.. Page 1 of 1 175 words…In a tight real estate market, the probability that a buyer's offer will be accepted is 0.50 if she bids more than 15 thousand above the asking price. The probability of acceptance drops to 0.20 if she bids below this amount. Overall, sixty percent of offers are more than 15 thousand above the asking price. The probability that a randomly selected offer will be accepted by the seller is closest or equal to: 0.15 0.38 0.20 0.32 O 0.18