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Suppose that one of two people is to be randomly chosen, with equal probability, to attend an important meeting.
The airline knows that 8% of the people on the mailing list will make arrangements to fly SwissAir during the period.
The probability that a bank customer will default on a loan is 0.04 if the economy is high and 0.13 if the economy is not high.
The firm estimates that 60% of the people in the potential market read The Wall Street Journal; research further shows that 85%.
A company president always invites one of her three vice presidents to attend business meetings and claims that her choice of the accompanying vice president.
A company’s internal accounting standards are set to ensure that no more than 5% of the accounts are in error.
A financial service company advertises its services in magazines, runs billboard ads on major highways, and advertises its services on the radio.
What is the probability that none of them is defective? What is the probability that at least one is defective? Explain.
A fashion designer has been working with the colors green, black, and red in preparing for the coming season’s fashions.
A multinational corporation is considering starting a subsidiary in an Asian country. Management realizes that the success of the new subsidiary depends.
The probability that a shipping company will obtain authorization to include a certain port of call in its shipping route is dependent.
Researchers at Kurume University in Japan surveyed 225 workers aged 41 to 60 years and found that 30% of them were skilled workers and 70%.
At a certain university, 30% of the students who take basic statistics are firstyear students, 35% are sophomores, 20% are juniors, and 15% are seniors.
The probability that a new product will be successful if a competitor does not come up with a similar product is 0.67.
In 2007, Starbucks inaugurated its Dulce de Leche Latte.14 If 8% of all customers who walk in order the new drink, what is the probability.
Blackjack is a popular casino game in which the objective is to reach a card count greater than the dealer’s without exceeding 21.
For the United States, automobile fatality statistics for the most recent year of available data are 40,676 deaths from car crashes.
A prospective author believes that the editor’s statement reflects the probability of acceptance of any author’s first submission to the journal.
Two stocks A and B are known to be related in that both are in the same industry. The probability that stock A will go up in price tomorrow is 0.20.
What is the probability that none will have left their jobs? All of them will have left their jobs? At least one will have left the position?
A drug manufacturer believes there is a 0.95 chance that the Food and Drug Administration (FDA) will approve a new drug the company plans to distribute.
An import–export firm has a 0.45 chance of concluding a deal to export agricultural equipment to a developing nation if a major competitor.
A realtor is trying to sell a large piece of property. She believes there is a 0.90 probability that the property will be sold in the next 6 months.
Holland America Cruise Lines has three luxury cruise ships that sail to Alaska during the summer months.
Saflok is an electronic door lock system made in Troy, Michigan, and used in modern hotels and other establishments.