What is the probability the person is 18 to 34 years old

Assignment Help Basic Statistics
Reference no: EM13948849

1. A company that manufactures toothpaste is studying five different package designs. Assuming that one design is just as likely to be selected by a consumer as any other design what selection probability would you assign to each of the package designs? In an actual experiment, 100 consumers were asked to pick the design they preferred. The following data were obtained. Do the data appear to confirm the belief that one design is just as likely to be selected as another? Explain.

Design

Number of Times Preferred

1

5

2

15

3

30

4

40

5

10

2. The U.S. adult population by age is as follows (The World Almanac, 2009). The data are in millions of people.

Age       

Number

18 to 24

29.8

25 to 34

40.0

35 to 44

43.4

45 to 54

43.9

55 to 64

32.7

65 and over

37.8

Assume a person will be randomly chosen from this population.

a. What is the probability the person is 18 to 24 years old?

b. What is the probability the person is 18 to 34 years old?

c. What is the probability the person is 45 years or older?

3. Assume that we have two events.A and B. that are mutually exclusive. Assume further that we know P(A) =.30 and P(B) =.40

a. What is P(A ∩ B)?

b. What is P(A | B)?

c. A student in statistics argues that the concepts of mutually exclusive events and independent events are really the same , and that if events are mutually exclusive they must be independent. Do you agree with this statement? Use the probability information in this problem to justify your answer.

d. What general conclusion would you make about mutually exclusive and independent events given the results of this problem?

Reference no: EM13948849

Questions Cloud

Determine its cost of debt : Drogo, Inc., is trying to determine its cost of debt. The firm has a debt issue outstanding with 16 years to maturity that is quoted at 105 percent of face value. The issue makes semiannual payments and has an embedded cost of 10 percent annually. Wh..
Assuming that symbols are compressed using huffman coding : For the Huffman Code that corresponds to the alphabet shown in the table above,what is the average number of bits needed to encode each 3-bit symbol?
What is the initial cash flow of butterfly spread strategy : Suppose you are creating a butterfly spread using call options with 3 different strike prices. Currently, the call price with strike price of $40 is $20.63, the call with strike price of $50 is $11.15, and the call with strike price of $60 is $6.16. ..
What does this exercise tell you about the relationship : Why or why not? What does this exercise tell you about the relationship between $1 today and $1 tomorrow?
What is the probability the person is 18 to 34 years old : A student in statistics argues that the concepts of mutually exclusive events and independent events are really the same , and that if events are mutually exclusive they must be independent. Do you agree with this statement? Use the probability in..
What is the maximum initial cost-aftertax cash savings : Scanlin, Inc., is considering a project that will result in initial aftertax cash savings of $1.89 million at the end of the first year, and these savings will grow at a rate of 2 percent per year indefinitely. What is the maximum initial cost the co..
Problem regarding the motion of the car : The "flying car" is a ride at an amusement park which consists of a car having wheels that roll along a track mounted inside a rotating drum. By design the car cannot fall off the track, however motion of the car is developed by applying the car's..
What are capital structure weights on market value basis : Filer Manufacturing has 4 million shares of common stock outstanding. The current share price is $70, and the book value per share is $5. Filer Manufacturing also has two bond issues outstanding. The first bond issue has a face value $60 million, has..
Returns for various states of the economy : Stock A has the following returns for various states of the economy:

Reviews

Write a Review

Basic Statistics Questions & Answers

  The number of calories in a 12-ounce serving of

the number of calories in a 12-ounce serving of randomly-selected regular budweiser and miller lite beers is listed. is

  Test of hypothesis-difference between means

A South American custom candy producer wants to know if the mean daily consumption of regular sugar sweetened candy eaters is less than that of artificial sweetened candy eaters.

  Point estimators-trimmed mean

A random sample of 20 vice presidents of Fortune 500 firms is taken. The amount each vice president paid in federal taxes as a percentage of gross income is determined.

  Determine the percentage of the variation

Determine the percentage of the variation in output that is "explained" by the regression equation.

  The college division of pearson education wants to

the college division of pearson education wants to determine the proportion of unsaleable books for a large production

  Question in town of 500 people 285 read hindu and 212 read

in town of 500 people 285 read hindu and 212 read indian express and 127read times of india 20 read hindu and times of

  A manufacturer of automobile purchases machine bolts from a

a manufacturer of automobile purchases machine bolts from a supplier who claims that no more than 5 of suppliers bolts

  Determining sample size requirements

Determine sample size requirements. When the results are available you would like your margin of error to be plus or minus 5% for the satisfaction measure and plus or minus $1.50 for the spending value.

  A companys raw data sample of weekly salaries in dollars is

a companys raw data sample of weekly salaries in dollars is shown

  Clearly state a nal model that adequately models the gender

the independent newspaper tabulated the gender of all candidates running for election in the 1992 british general

  Find half-widthof confidence interval for population mean

What is the half-width (from the middle of the confidence interval to either of the confidence limits) of the 99% confidence interval for the population mean time spent on investment research by portfolio managers?

  Find the best point estimate of the mean

Find the best point estimate of the mean and find the 95% confidence interval of the mean score for all golfers.

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