Discuss the below:
Q: Select an American family randomly and count the number of people it contains. Here is the assignment of probabilities for your outcome:
Number of persons: 2 3 4 5 6 7
Probability: 0.42 0.23 0.21 0.09 0.03 0.02
1) What is the probability that the family you choose has more than two people?
2) Using the probabilities above, what is the expected size of the family you draw?
A group of people living together at the same address is a household. Pick one American household at random and record how many people it contains. Here are the probabilities:
Number of persons: 1 2 3 4 5 6 7 or more
Probability: ? 0.32 0.17 0.16 0.07 0.02 0.01
1) What is the probability that the household chosen contains only one person? Or can you tell from the information given?
2) What is the probability that a randomly chosen household contains four or more persons? Or can you tell from the information given?
A store runs a prize game by giving each customer a ticket that may win a prize when scratched. Printed on the ticket are the following probabilities for a customer who shops once a week:
Amount Won Probability
$1000 0.01
$100 0.10
$10 0.20
1) What is the probability of winning nothing?