Question

the bargain Auto Mall has the following cars in stock SUV Compact Mid-sized Foreign 20 50...

the bargain Auto Mall has the following cars in stock

SUV

Compact

Mid-sized

Foreign

20

50

20

Domestic

65

100

45

If a car is selected at random, find the probability that:

  1. The selected car is compact.
  2. The selected car is compact and domestic.
  3. The selected is compact given that it is domestic.
  4. The selected car is compact or domestic.

Homework Answers

Answer #1

All the below questions are simple probabilistic problems which can be solved by just counting the number of favorable outcomes to total outcomes possible.

Now total number of cars is the sum of

20
50
20
65
100
45

which is simply equal to 300.

a.

P(Car Selected is Compact)

= Total number of compact cars / Total number of cars

= (50 + 150) / 300

= 1/2

b.

P(Car selected is compact and domestic)

= 100/300

= 1/3

c. P(Selected car is compact/Domestic)

= P(Selected car is compact and also Domestic) / P(Selected car is domestic)

=

=

= 10 /21

d. P(Selected car is compact or Domestic)

= P(Selected car is compact) + P(selected car is domestic) - P(Selected car is compact and domestic)

= 150/300 + 210/300 - 100/300

= 260 / 300

= 0.8667

Please upvote. Let me know in case if anything is not clear in comments, I'll reply ASAP. Thank you for posting a challenging problem!

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Q-4: the bargain Auto Mall has the following cars in stock SUV Compact Mid-sized Foreign 20...
Q-4: the bargain Auto Mall has the following cars in stock SUV Compact Mid-sized Foreign 20 50 20 Domestic 65 100 45 If a car is selected at random, find the probability that: The selected car is compact. The selected car is compact and domestic. The selected is compact given that it is domestic. The selected car is compact or domestic.
An actuary has done an analysis of all policies that cover two cars. 70% of the...
An actuary has done an analysis of all policies that cover two cars. 70% of the policies are of type A for both cars, and 30% of the policies are of type B for both cars. The number of claims on different cars across all policies are mutually independent. The distributions of the number of claims on a car are given in the following table. Number of Claims Type A Type B 0 40% 25% 1 30% 25% 2 20%...
Stock X has a beta of 1.55 and is expected to generate the following returns given...
Stock X has a beta of 1.55 and is expected to generate the following returns given the three different economic states, boom, normal and recession. State Probability Expected return Boom 50% 45% Good 30% 25% Poor 20% -20% The market risk premium is 12% and the risk-free rate is 7%.   Based on the above information, the stock is (underpriced, overpriced, correctly priced) , therefore we should (buy, sell, hold)  the stock. This stock plots (on, above, below)  SML.
#46 In a survey of 2000 adults 50 years and older of whom 20% were retired...
#46 In a survey of 2000 adults 50 years and older of whom 20% were retired and 80% were pre-retired, the following question was asked: Do you expect your income needs to vary from year to year in retirement? Of those who were retired, 23% answered no, and 77% answered yes. Of those who were pre-retired, 28% answered no, and 72% answered yes. If a respondent in the survey was selected at random and had answered yes to the question,...
Q1 Electric cars of the same type  have ranges, X, that are normally distributed with a...
Q1 Electric cars of the same type  have ranges, X, that are normally distributed with a mean of 340 km and a standard deviation of 20 km, when driven on a test track. Define (a)  Find L and U such that (b) Find the probability that the range on the test track of a randomly chosen car of this type is between 300 km and 350 km. (c) Given that , what range on the test track can the manufacturer...
1. A random number generator is used to select a number from 1 to 500 ?(inclusively)....
1. A random number generator is used to select a number from 1 to 500 ?(inclusively). What is the probability of selecting the number 595 ? What is the probability? 2.Identify the sample space of the probability experiment and determine the number of outcomes in the sample space. -Randomly choosing an even number between 10 and 20, inclusive The sample space is? (Use a comma to separate answers) There are _____ outcomes in the sample space 3. Determine the number...
Part 1) The method of tree ring dating gave the following years A.D. for an archaeological...
Part 1) The method of tree ring dating gave the following years A.D. for an archaeological excavation site. Assume that the population of x values has an approximately normal distribution. 1271 1299 1299 1215 1268 1316 1275 1317 1275 a) Find a 90% confidence interval for the mean of all tree ring dates from this archaeological site. (Round your answers to the nearest whole number.) lower limit________    A.D. upper limit________ A.D. Part 2) How much does a sleeping bag...
Answer the following questions Lamis owns 100 shares of Stock S which has a price of...
Answer the following questions Lamis owns 100 shares of Stock S which has a price of $12 per share and 200 shares of Stock G which has a price of $3 per share. What is the proportion of Lamis's portfolio invested in stock S Answer 1 Choose... Check the following expected returns and standard deviations of assets in the table below which asset should be selected? Answer 2 Choose... The expected return and the standard deviation of returns for asset...
Anyone who has been outdoors on a summer evening has probably heard crickets. Did you know...
Anyone who has been outdoors on a summer evening has probably heard crickets. Did you know that it is possible to use the cricket as a thermometer? Crickets tend to chirp more frequently as temperatures increase. This phenomenon was studied in detail by George W. Pierce, a physics professor at Harvard. In the following data, x is a random variable representing chirps per second and y is a random variable representing temperature (°F). x 20.2 15.0 20.7 18.3 17.3 15.5...
7. Between Z=0 and Z=-3 a. 0.9987 b. -0.4987 c. 0.5000 d. 0.4987 e. 0.0013 8....
7. Between Z=0 and Z=-3 a. 0.9987 b. -0.4987 c. 0.5000 d. 0.4987 e. 0.0013 8. Between Z=-1.95 and Z=1.95 a. 0.9988 b. -0.4488 c. 0.4488 d. 0.9488 e. -0.9488 9. Between Z=1 and Z=3 a. 0.9987 b. 0.1573 c. 0.0013 d. 0.8413 e. 2 10. Find the Z value that corresponds to the given area . a. 1 b. 0.1 c. 0 d. 0.50 e. None of them 11. a. 0.8416 b. -0.1584 c. -0.20 d. -0.8416 e. 0.80...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT