Assignment:
Q1. A mail order company tracks the number of returns it receives each day. Information for the last 50 days shows
Number of returns Number of days
0 - 99 6
100 - 199 20
200 - 299 15
300 or more 9
a. How many sample points are there?
b. List and assign probabilities to sample points.
c. What procedure was used to assign these probabilities?
Q2. There are two more assignments in a class before its end, and if you get an A on at least one of them, you will get an A for the semester. Your subjective assessment of your performance is
Event Probability
A on paper and A on exam .25
A on paper only .10
A on exam only .30
A on neither .35
a. What is the probability of getting an A on the paper?
b. What is the probability of getting an A on the exam?
c. What is the probability of getting an A in the course?
Q3. Fold back this decision tree. Clearly state the decision strategy you determine.
Provide complete and step by step solution for the question and show calculations and use formulas.