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A box has two balls, one white and one red. We select one ball, put it back in the box, and select a second ball (sampling with replacement). Let T be the event of getting the white ball twice, F the event of picking the white ball first, S the event of picking the white ball in the second drawing.

  1. Compute P ( T ).
  2. Compute P ( T | F ).
  3. Are T and F independent?.
  4. Are F and S mutually exclusive?
  5. Are F and S independent?
  1. P ( T ) = 1 4
  2. P ( T | F ) = 1 2
  3. No
  4. No
  5. Yes
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References

Lopez, Shane, Preety Sidhu. “U.S. Teachers Love Their Lives, but Struggle in the Workplace.” Gallup Wellbeing, 2013. http://www.gallup.com/poll/161516/teachers-love-lives-struggle-workplace.aspx (accessed May 2, 2013).

Data from Gallup. Available online at www.gallup.com/ (accessed May 2, 2013).

Chapter review

Two events A and B are independent if the knowledge that one occurred does not affect the chance the other occurs. If two events are not independent, then we say that they are dependent.

In sampling with replacement, each member of a population is replaced after it is picked, so that member has the possibility of being chosen more than once, and the events are considered to be independent. In sampling without replacement, each member of a population may be chosen only once, and the events are considered not to be independent. When events do not share outcomes, they are mutually exclusive of each other.

Formula review

If A and B are independent, P ( A AND B ) = P ( A ) P ( B ), P ( A | B ) = P ( A ) and P ( B | A ) = P ( B ).

If A and B are mutually exclusive, P ( A OR B ) = P ( A ) + P ( B ) and P ( A AND B ) = 0.

E and F are mutually exclusive events. P ( E ) = 0.4; P ( F ) = 0.5. Find P ( E F ).

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J and K are independent events. P ( J | K ) = 0.3. Find P ( J ).

P ( J ) = 0.3

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U and V are mutually exclusive events. P ( U ) = 0.26; P ( V ) = 0.37. Find:

  1. P ( U AND V ) =
  2. P ( U | V ) =
  3. P ( U OR V ) =
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Q and R are independent events. P ( Q ) = 0.4 and P ( Q  AND  R ) = 0.1. Find P ( R ).

P ( Q AND R ) = P ( Q ) P ( R )

0.1 = (0.4) P ( R )

P ( R ) = 0.25

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Bringing it together

A previous year, the weights of the members of the San Francisco 49ers and the Dallas Cowboys were published in the San Jose Mercury News . The factual data are compiled into [link] .

Shirt# ≤ 210 211–250 251–290 290≤
1–33 21 5 0 0
34–66 6 18 7 4
66–99 6 12 22 5

For the following, suppose that you randomly select one player from the 49ers or Cowboys.

If having a shirt number from one to 33 and weighing at most 210 pounds were independent events, then what should be true about P (Shirt# 1–33|≤ 210 pounds)?

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The probability that a male develops some form of cancer in his lifetime is 0.4567. The probability that a male has at least one false positive test result (meaning the test comes back for cancer when the man does not have it) is 0.51. Some of the following questions do not have enough information for you to answer them. Write “not enough information” for those answers. Let C = a man develops cancer in his lifetime and P = man has at least one false positive.

  1. P ( C ) = ______
  2. P ( P | C ) = ______
  3. P ( P | C' ) = ______
  4. If a test comes up positive, based upon numerical values, can you assume that man has cancer? Justify numerically and explain why or why not.

  1. P ( C ) = 0.4567
  2. not enough information
  3. not enough information
  4. No, because over half (0.51) of men have at least one false positive text
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Given events G and H : P ( G ) = 0.43; P ( H ) = 0.26; P ( H AND G ) = 0.14

  1. Find P ( H OR G ).
  2. Find the probability of the complement of event ( H AND G ).
  3. Find the probability of the complement of event ( H OR G ).
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Given events J and K : P ( J ) = 0.18; P ( K ) = 0.37; P ( J OR K ) = 0.45

  1. Find P ( J AND K ).
  2. Find the probability of the complement of event ( J AND K ).
  3. Find the probability of the complement of event ( J AND K ).
  1. P ( J OR K ) = P ( J ) + P ( K ) − P ( J AND K ); 0.45 = 0.18 + 0.37 - P ( J AND K ); solve to find P ( J AND K ) = 0.10
  2. P (NOT ( J AND K )) = 1 - P ( J AND K ) = 1 - 0.10 = 0.90
  3. P (NOT ( J OR K )) = 1 - P ( J OR K ) = 1 - 0.45 = 0.55
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Questions & Answers

Ayele, K., 2003. Introductory Economics, 3rd ed., Addis Ababa.
Widad Reply
can you send the book attached ?
Ariel
?
Ariel
What is economics
Widad Reply
the study of how humans make choices under conditions of scarcity
AI-Robot
U(x,y) = (x×y)1/2 find mu of x for y
Desalegn Reply
U(x,y) = (x×y)1/2 find mu of x for y
Desalegn
what is ecnomics
Jan Reply
this is the study of how the society manages it's scarce resources
Belonwu
what is macroeconomic
John Reply
macroeconomic is the branch of economics which studies actions, scale, activities and behaviour of the aggregate economy as a whole.
husaini
etc
husaini
difference between firm and industry
husaini Reply
what's the difference between a firm and an industry
Abdul
firm is the unit which transform inputs to output where as industry contain combination of firms with similar production 😅😅
Abdulraufu
Suppose the demand function that a firm faces shifted from Qd  120 3P to Qd  90  3P and the supply function has shifted from QS  20  2P to QS 10  2P . a) Find the effect of this change on price and quantity. b) Which of the changes in demand and supply is higher?
Toofiq Reply
explain standard reason why economic is a science
innocent Reply
factors influencing supply
Petrus Reply
what is economic.
Milan Reply
scares means__________________ends resources. unlimited
Jan
economics is a science that studies human behaviour as a relationship b/w ends and scares means which have alternative uses
Jan
calculate the profit maximizing for demand and supply
Zarshad Reply
Why qualify 28 supplies
Milan
what are explicit costs
Nomsa Reply
out-of-pocket costs for a firm, for example, payments for wages and salaries, rent, or materials
AI-Robot
concepts of supply in microeconomics
David Reply
economic overview notes
Amahle Reply
identify a demand and a supply curve
Salome Reply
i don't know
Parul
there's a difference
Aryan
Demand curve shows that how supply and others conditions affect on demand of a particular thing and what percent demand increase whith increase of supply of goods
Israr
Hi Sir please how do u calculate Cross elastic demand and income elastic demand?
Abari
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Source:  OpenStax, Introductory statistics. OpenStax CNX. May 06, 2016 Download for free at http://legacy.cnx.org/content/col11562/1.18
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