Find the probability that neither product succeeds

Assignment Help Basic Statistics
Reference no: EM131805261

Question: Your new firm is introducing two products, a bicycle trailer, and a baby carriage for jogging. Your subjective probabilities of success for these products are 0.85 and 0.70, respectively. If the trailer is successful, you will be able to market the carriage to these customers; therefore, you feel that if the trailer is successful, the carriage will succeed with probability 0.80.

a. Draw a probability tree for this situation.

b. Find the probability that both products succeed.

c. Find the probability that neither product succeeds.

d. Find the probability that the trailer succeeds but the carriage does not.

e. In order for your firm to survive, at least one of the products must succeed. Find the probability that your firm will survive.

Reference no: EM131805261

Questions Cloud

Synopsis of the organization and roles of the individuals : Paper on the following questions: A synopsis of the organization and roles of the individuals involved.
Find the relative frequency of winning : Consider a game in a gambling casino that pays off with probability 0.40. Yesterday 42,652 people played, and 17,122 won.
How much is the companys interest expense for the loan : To the nearest dollar, how much is the company's interest expense for this loan for the year ended 30th June 2018?
Program that was privately owned and operated : Two years ago I worked for an after school program that was privately owned and operated. The owners were very smart caring people and were driven
Find the probability that neither product succeeds : Your new firm is introducing two products, a bicycle trailer, and a baby carriage for jogging. Your subjective probabilities of success for these products.
Describe specific ethical issues keith needs to consider : Reflect on what you have learned in your readings about cultural, legal, and ethical issues related to assessment.
Diagnose and analyze the organization : Using action research a manager needs to diagnose and analyze the organization. Understanding the desired state, acting on the changes
Prepare the bank reconciliation for this company as of july : On July 31, the company's Cash account has a $26,193 debit balance, Prepare the bank reconciliation for this company as of July 31, 2011
Calculate the gain arising that will be recognized : Calculate the gain arising that will be recognized in income statement assuming that A's 20% shareholding did NOT allow it to exercise significant influence.

Reviews

Write a Review

 

Basic Statistics Questions & Answers

  Consider an investment portfolio of 50000 in stock a and

question consider an investment portfolio of 50000 in stock a and 50000 in stock b. the expected value of a is 9.5

  Discuss about the failure of the system

A system consists of components A and B connected in parallel. Suppose the two components fail independently, and the time to failure for each component.

  Sample size calculation-confidence interval

An investment firm with 10,000 clients would like to accurately forecast the average dollar amount their current customer will deposit over the coming year.

  Assume we know that the probability that a college student

assume we know that the probability that a college student owns an iphone is 0.70. four students are selected at random

  Probability that exactly one person completes the task

What is the probability that all four people complete the task in less than 30 seconds?- What is the probability that exactly one person completes the task in less than one minute?

  Daily calorie consumption of females in march-august

Construct a confidence interval for 95% , the difference between the mean daily calorie consumption of females in September-February and the mean daily calorie consumption of females in March-August. Then complete the table below.

  Determine probability of getting someone who doesn-t smoke

If one person is arbitarily selected from this sample, determine probability of getting someone who is age 18-22 or doesn't smoke.

  Difference in means-mean noise level of stroke floors

The mean noise level of stroke floors in 20 different hospitals was 63.1 dBA, and the standard deviation was 4.1 dBA. The mean noise level for 24 hospital operating rooms was 56.3 dBA and the standard deviation was 7.5 dBA. At α = .05 can it be co..

  Comparisons involving proportions and test of independence

Does age make a difference in the amount of savings a worker feels is needed to be secure at retirement? Suppose 210 workers in the 25-33 age category and 176 workers in the 34-52 age category were involved in this study.

  Determine the level of significance for testing

Determine the level of significance for testing Ha: µ = 40. Is there significant evidence in the data to support the contention that the additive has decreased the mean absorption rate of the stain using an a  =.05 test?

  Determine point estimate and confidence interval

Standardized measures seem to indicate that the average level of anxiety has increased gradually over the past 50 years. In the 1950s, the average score on the child manifest anxiety scale was µ=15.1. A sample of n=16 of today's children produces ..

  Find the sample correlation coefficient between the ranks

a. Rank the observations in each sample separately, and find each difference between the ranks, di. b. Find the sample correlation coefficient between the rank

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd