1. Based on the information, please compute the following measures:
Daily Supply (y) |
Unit Price (x) |
15 |
11 |
13 |
12 |
17 |
15 |
19 |
8 |
16 |
9 |
(1) Mean for variable y and for x.
(2) Standard deviation for variable y and for variable x. (Please show the detail computation steps. Please don’t just give an answer from Excel functions or calculator functions. Otherwise, you will not get all the points.)
[Hint: (Please see Slide 26 of Chapter 3 for formula). Please also see related materials in the textbook.)]
2. You are given the following information on Events A, B, C, and D.
P(A) =0.43 P(A ⋃ C) =0.6
P(B) =0.25 P(A | B) =0.2
P(D) =0.35 P(A ∩ C) =0 .04 P(A ∩ D) =0 .05
Please do the following:
a. Compute P(C).
b. Compute P(A ∩ B).
c. Compute P(A | D).
c. Compute P(D | A).
Hint: [Please see Chapter 4 – Slides 22 - 23 for definition of union of events, see Slides 24 - 25 for definition of intersection of events, and Slide 26 for Addition Law.]
3. As a company manager for Claimstat Corporation there is a 0.40 probability that you will be promoted this year. There is a 0.6 probability that you will get a promotion, a raise, or both. The probability of getting a promotion and a raise is 0.3.
(1) If you get a raise, what is the probability that you will also get a promotion?
(2) Are getting a raise and being promoted independent events? Explain using probabilities.
(3) Are these two events mutually exclusive? Explain using probabilities.
data | data-mean | (data - mean)^{2} |
15 | -1 | 1 |
13 | -3 | 9 |
17 | 1 | 1 |
19 | 3 | 9 |
16 | 0 | 0 |
Find the sum of numbers in the last column to get.
∑(yi− y bar)^{2}=20
Create the following table.
data | data-mean | (data - mean)^{2} |
11 | 0 | 0 |
12 | 1 | 1 |
15 | 4 | 16 |
8 | -3 | 9 |
9 | -2 | 4 |
Find the sum of numbers in the last column to get.
∑(xi−X bar)^{2}=30
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