Reference no: EM131027866

Question 1

The National association of college and university business officers researched the change in university and college endowments from 2007 to 2008.The table below shows the findings of 203 colleges and universities with 2008 endowment levels above 300 million dollar . It indicates how many schools with an endowment level had their endowment increase in value. How many had their endowment decrease by between 0 and 5% and how many had their endowment decrease by more than 5%. Among these 203 colleges and universities, find the probabilities of the events  below

	Change in Value
Endowment  Value in dollars	Positive  increase	Between 0 and 5% decrease	More than 5% Decrease	Total
300-499 Mil	19	27	16	62
500-999 Mil	24	26	14	64
1-1,999	22	17	6	45
2 Bill or more	20	8	4	32
Total	85	78	40	203

A The endowment had a positive increase in value

B  The endowment  was valued at$2 billion or more and lost more than 5%

C The endowment did not decrease  by 5% or more

D The endowment had between a 0 and 5% reduction or had a value of $300-499 mil

E The endowment was less than 2 billion and had a positive increase.

Question 2

The table below shows the results from a subset of the 2007 American Community Survey. Find the probability of the given event

	House hold Income
Number of Vehicles	$0- 49,999	50,000- 99,999	100,000- 149,999	150,000 or more	Total
0-2 3 or more	504 36	199 80	64 36	46 35	813 187
Total	540	279	100	81	1000

a) Earning 150,000 or more ,given that a household has 3 or more cars

b) Having 0-2 cars ,given that a household earns $0-49,999

c) Having 3 or more cars ,given that a household earns between $100,000-149,999

d) Earning $50,000 - 99,999, given that the household has 0-2 cars

Question 3

A car dealership has 8 red ,9 silver and 5 black cars on the lot . Ten cars are randomly chosen to be displayed in front of the dealership. Find the probability that

a-  4 red and the rest are silver

b-  5 are red and 5 are black

c-  8 are red