Questions from Business Statistics

Q: You just learned good news: A prototype of the new product

You just learned good news: A prototype of the new product was completed ahead of schedule and it works better than expected. Would you expect “the conditional probability that this product will be su...

Q: Suppose 35.0% of employees are staff scientists, 26

Suppose 35.0% of employees are staff scientists, 26.0% are senior employees, and 9.1% are both. Are “staff scientist” and “senior employee” independent events?

Q: For the salary numbers: a. Construct a histogram.

For the salary numbers: a. Construct a histogram. b. Describe the shape of the distribution. c. Summarize the distribution in general terms by giving the smallest salary and the largest salary.

Q: The probability that the project succeeds in New York is 0.

The probability that the project succeeds in New York is 0.6, the probability that it succeeds in Chicago is0.7,and the probability that it succeeds in both markets is 0.55. Find the conditional proba...

Q: You have followed up on people who received your catalog mailing.

You have followed up on people who received your catalog mailing. You found that 4% ordered the hat and 6% ordered the mittens. Given that they ordered the hat, 55% also ordered the mittens. a. What p...

Q: Of your customers, 24% have high income, 17%

Of your customers, 24% have high income, 17% are well educated. Furthermore, 12% both have high income and are well educated. What percentage of the well-educated customers has high income? What does...

Q: Your production line has an automatic scanner to detect defects. In

Your production line has an automatic scanner to detect defects. In recent production, 2% of items have been defective. Given that an item is defective, the scanner has a 90% chance of identifying it...

Q: You have determined that 2.1% of the CDs that

You have determined that 2.1% of the CDs that your factory manufactures are effective due to a problem with materials and that 1.3% are defective due to human error. Assuming that these are independen...

Q: You feel that the schedule is reasonable provided the new manager can

You feel that the schedule is reasonable provided the new manager can be hired in time, but the situation is risky regardless. You figure there is a 70% chance of hiring the new manager in time. If th...

Q: Of the 925 tires your factory just produced, 17 are defective

Of the 925 tires your factory just produced, 17 are defective. a. Find the probability that a randomly selected tire is defective. b. Find the probability that a randomly selected tire is not defectiv...