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
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
Superior Construction Pte Ltd is a successful company dealing with many major projects in Singapore. Recently, it has submitted its biddings 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:
Will secure Project A or B but not both
Will not secure Project A or will not secure Project B
Do you agree that "if two events are mutually exclusive then these two events will be independent"? Why?
Provide one business-related example each, with explanation, for mutually exclusive and independent events.