Q.19: From past experiences a stockbroker believes that under present economic c
ID: 2955427 • Letter: Q
Question
Q.19: From past experiences a stockbroker believes that under present economic conditions a customerwill invest in tax-free bonds with the probability of 0.6, willinvest in mutual funds with a probability of 0.3, and will investin both tax-free bonds and mutual funds with a probability of 0.15.At this time, find the probability that a customer willinvest
a) in either tax-free bonds or mutualfunds
b) in neither tax-free bond normutual funds.
Q.20: In a certain federal prison itis known that 2/3 of the inmates are under 25 years of age. Itsalso known that 3/5 of the inmates are male and the 5/8 of theinmates are female or 25 years of age are older. What is theprobability that a prisoner selected at random from this prison isfemale and at least 25 years old?
Q.21: The probabilities that aservice station will pump gas into 0, 1, 2, 3, 4 , or 5 or morecars during a certain 30-minute period are 0.03, 0.18, 0.24, 0.28,0.10, and 0.17. find the probability that in this 30-minuteperiod
a) more than 2 cars receive gas,
b) at most 4 cars receive gas,
c) 4 or more cars receive gas.
Q.22: Odds: The odds in favor ofan event E or Quoted is a to b if and only if
P(E) = a / (a+b).
a) If an insurance company quotesodds of 3 to 1 for the event that an individual 70 years of agewill survive another 10 years, what is the probability assigned tothis event?
b) If the probability of a susseccfultransplant operation is 1/8, what are the odds against this type ofsurgery?
Explanation / Answer
Q19: a) P = 0.6 + 0.3 = 0.9 = 90% b) P = 1 - 0.9 = 0.1 = 10%
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