Question 1 - It is noted that 8% of Kaplan students are left handed. If 20 (TWENTY) students are randomly selected, calculate the
i. Probability that none of them are left-handed.
ii. Probability that at most 2 are left handed.
iii. Standard deviation for the number of left-handed students.
b. If 50 (FIFTY) classes of 20 (TWENTY) students are randomly selected, what is the probability that 10 (TEN) classes have no left-handed students?
Question 2 - (a) Superior Construction Pte Ltd is a successful company dealing with many major projects in Singapore. Recently, it has submitted its bidding for two major Government projects. Project A worth about $120 million and the company believes it has 40% chance of securing the project. Project B worth $1.8 billion and there is 30% chance the company can win the project. Both projects are Independent of each other. What is the probability that the company:
i. Will secure Project A or B but not both.
ii. Will not secure Project A or will not secure Project B.
(b) Do you agree that "if two events are mutually exclusive them these two events will be independent"?
(c) Provide one business related example each, with explanation, for mutually exclusive and independent events.